Iowa Student Loan


Iowa Student Loan is all about your success. Established in 1979 as a private, nonprofit corporation, Iowa Student Loan helps Iowa students and families obtain the resources necessary to succeed in postsecondary education. To date, we have helped more than 392,500 students pay for college.

Iowa Student Loan provides scholarships and programs for Iowa families, offers private student loans for students who have exhausted other sources of aid, and reinvests funds in programs to benefit students and borrowers. Based in West Des Moines, we are self-funded and self-capitalized and are governed by a board of directors appointed by the governor of Iowa. For nearly 40 years, we have worked to support the local economy by maintaining and growing jobs and providing competitive salaries and benefits. Along with our subsidiary, we employ more than 200 people and manage $2.6 billion in student loans.

Loan Features

Private student loans are supplemental loans that are intended to fill any gaps in funding college after all other financial aid resources for students — scholarships, grants, work-study and federal student loans — as well as earnings and savings have been exhausted.

Like federal student loans, private loans must be repaid with interest. While federal loan rates, terms and other details are set by the government, individual lenders set the rates, terms, criteria and other details for private student loans. Student loans should be used for education costs only. Remember that every dollar you borrow now must be repaid later with interest and possibly other fees.

Private Loans
We offer three different competitively priced private education loan options to help you fund a college education or refinance existing student loan debt. Each loan has clearly defined terms and conditions, including credit score requirements for specific rates, that are provided upfront before you start the application process. All private loans are subject to credit approval.

Partnership Loan
This loan is for undergraduate and graduate students and their cosigners. It features fixed and variable rates, an interest rate reduction for using auto-debit during repayment and a cosigner release option.

College Family Loan
Created for parents, family members and others who wish to borrow on behalf of undergraduate and graduate students to help those students with college costs, this is a fixed-rate loan.

Reset Refinance Loan
This loan was designed for borrowers looking to refinance or consolidate existing student loan debt. This fixed-rate option can simplify repayment and provide lower interest rates for some borrowers.

Application Process

To meet Iowa Student Loan’s most basic eligibility requirements, you or your cosigner must:

Have a credit score of 720+
Have a debt-to-income ratio of 40% or less
Be a US citizen or permanent resident
Be the age of majority in your state (usually 18)
Have no more than two credit accounts with 30-day delinquencies in the past two years
Have no credit account with a 60-day delinquency in the past two years
Have none of the following: previous student loan defaults or bankruptcies, repossessions, foreclosures, charge-offs, judgements, collection accounts, wage garnishments or tax liens.

Once your application has been processed and your school has certified your eligibility, you will receive an email with a unique link to the Disclosure Manager to view and accept required disclosures before your loan can be finalized. If you need the Disclosure Manager email resent, need assistance with accessing your disclosures or have questions regarding your application, please call (800) 542-6005 between 8 a.m. and 4:30 p.m. (Central time). If you need the Disclosure Manager email resent between 4:30 and 6 p.m. (Central time) Monday through Thursday, please call (844) 268-2203. Messages left after hours will be returned on the next business day.

Repayment Terms

Minimum Loan Amount $5,000
Maximum Loan Amount $150,000
Loan Term 5-15 years
APR 3.75%–7%

Customer Support

P.O. Box 659703
West Des Moines, IA 50265-0970

Corporate Office
(855) 811-9849
8 a.m.–4:30 p.m. Mon.–Fri.

Private Loan General Questions
(844) 268-2203
8 a.m.–6 p.m. Mon.–Thurs.
8 a.m.–4:30 p.m. Fri.

Private Loan Application Support
(800) 542-6005
8 a.m.–4:30 p.m. Mon.–Fri.

Fax (515) 471-3996

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