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Origination Fees Eliminated

Students and families taking out a Partnership Advance Education Loan® or College Family Loan® no longer pay an origination fee. This change means that students and families will receive all the funds they borrow to help with college costs and will not need to borrow more to cover any fees.

Lower than PLUS Rates

In addition, this change means that the highest fixed annual percentage rate (APR) for both the Partnership Loan and College Family Loan and for any in-school payment option is 6.85%. This APR is lower than the APR we calculate for the Federal Direct PLUS Loan for the 2017–2018 academic year. We encourage students and families to remember that loan costs are only one factor they should consider when comparing the PLUS Loan to other loans, and we continue to provide PLUS Loan comparison charts online for both our supplemental loan options.

November Is Financial Aid Awareness Month

Watch your mail for Financial Aid Awareness Month materials that will help you remind students to complete the FAFSA. Request additional materials.

Scholarship Recipients Announced

Thirty Iowa high school seniors were each awarded $2,000 scholarships for college this fall through the Iowa Financial Know-How Challenge: Senior Scholarship program. Registered students were required to complete Student Loan Game PlanSM, ROCI Reality Check, a related assessment and then write a short essay that was independently judged. Learn more about the recipients and the program.

In addition, five recent high school graduates from Illinois, Minnesota and Missouri each earned $1,000 to attend college in Iowa this fall through the 2017 Come 2 Iowa Senior Scholarship. Students participating in this scholarship program also completed Student Loan Game Plan, ROCI Reality Check and a related assessment. The five recipients also submitted independently judged essays. Read about the recipients and scholarship program.

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