About Us Contact Us
Iowa Student Loan www.facebook.com/IowaStudentLoan www.facebook.com/IowaStudentLoan

Partnership Loan

Iowa Student Loan offers private education loans and services to Iowans, as well as to non-Iowa residents attending Iowa colleges and universities.

Choose the Option You Want

The competitively priced Partnership Loan features:

  • Different options for making or deferring payments while you're in school.
  • Fixed and variable interest rates that you know before you apply.
  • A chance to release your cosigner once the first 24 payments are received.

Iowa Student Loan's Partnership Advance Education Loan® (Partnership Loan) is designed to supplement — not replace — other sources to fill funding gaps for students and parents. Students and parents should work with financial aid professionals at their respective colleges and universities to explore and exhaust all sources of student financial aid before seeking a Partnership Loan.

Have Questions?

If you have questions about your different options, call us toll free at (844) 268-2203.

When Do You Want to Repay Your Loan?

If you need additional funding for college costs, determining which Partnership Loan is best for you begins with deciding which payment option you prefer.

Compare financial information on all Partnership Loan options. (PDF)

Do you want to... Then...
Make monthly principal and interest payments while in school?

The Immediate Payment loan options feature:

  • Lower interest rates than the Interest-Only or Deferred Payment options.
  • A 10-year principal and interest repayment term.
  • A fixed-rate annual percentage rate (APR) of 6.15%1 or 6.83%2 depending on your origination fee.
  • A variable-rate annual percentage rate (APR) of 4.38%3 or 5.04%4 depending on your origination fee.

Learn more.

Make monthly interest-only payments while in school?

The Interest-Only Payment loan options feature:

  • Lower interest rates than the Deferred Payment options.
  • A 10-year principal and interest repayment term.
  • A fixed-rate annual percentage rate (APR) of 6.40%5 or 6.83%6 depending on your origination fee.
  • A variable-rate annual percentage rate (APR) of 4.63%7 or 5.03%8 depending on your origination fee.

Learn more.

Hold off making payments until after school?

The more traditional Deferred Payment loan lets you defer all payments until after you graduate, leave school or drop below half-time enrollment. These options feature:

  • Higher interest rates than the other options, but they're still competitive with other lenders.
  • A 15-year principal and interest repayment term.
  • A fixed-rate annual percentage rate (APR) of 6.56%9 or 6.85%10 depending on your origination fee.
  • A variable-rate annual percentage rate (APR) of 4.80%11 or 5.09%12 depending on your origination fee.

Learn more.

Origination Fees

To qualify for a Partnership Loan, you or your cosigner(s) must have a FICO score of at least 670. If the FICO score is:

  • 750 or greater, your origination fee will be 0%.
  • 670 – 749, your origination fee will be 3%. Note: This fee will be deducted from your final loan amount.

1 Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $10,000, a 0% origination fee and a fixed interest rate of 6.15% during the 120-month principal and interest repayment period.

2 Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $10,000, a 3% origination fee and a fixed interest rate of 6.15% during the 120-month principal and interest repayment period.

3 Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $10,000, a 0% origination fee and maintaining a constant interest rate on a variable rate loan of 4.38% during the 120-month principal and interest repayment period. APR examples are based on quarterly interest rates for Jan. 1 – March 31, 2015.

4 Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $10,000, a 3% origination fee and maintaining a constant interest rate on a variable rate loan of 4.38% during the 120-month principal and interest repayment period. APR examples are based on quarterly interest rates for Jan. 1 – March 31, 2015.

5 Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $10,000, a 0% origination fee, deferring principal for 51 months and a fixed interest rate of 6.40% during the 51-month in-school and separation period and the 120-month principal and interest repayment period.

6 Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $10,000, a 3% origination fee, deferring principal for 51 months and a fixed interest rate of 6.40% during the 51-month in-school and separation period and the 120-month principal and interest repayment period.

7 Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $10,000, a 0% origination fee, deferring principal for 51 months and maintaining a constant interest rate on a variable rate loan of 4.63% during the 51-month in-school and separation period and the 120-month principal and interest repayment period. APR examples are based on quarterly interest rates for Jan. 1 – March 31, 2015.

8 Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $10,000, a 3% origination fee, deferring principal for 51 months and maintaining a constant interest rate on a variable rate loan of 4.63% during the 51-month in-school and separation period and the 120-month principal and interest repayment period. APR examples are based on quarterly interest rates for Jan. 1 – March 31, 2015.

9 Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $10,000, a 0% origination fee, deferring interest and principal for 51 months and a fixed interest rate of 6.89% during the 51-month in-school and separation period and the 180-month principal and interest repayment period.

10 Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $10,000, a 3% origination fee, deferring interest and principal for 51 months and a fixed interest rate of 6.89% during the 51-month in-school and separation period and the 180-month principal and interest repayment period.

11 Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $10,000, a 0% origination fee, deferring interest and principal for 51 months while maintaining a constant interest rate on a variable rate loan of 4.98% during the 51-month in-school and separation period and the 180-month principal and interest repayment period. APR examples are based on quarterly interest rates for Jan. 1 – March 31, 2015.

12 Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $10,000, a 3% origination fee, deferring interest and principal for 51 months while maintaining a constant interest rate on a variable rate loan of 4.98% during the 51-month in-school and separation period and the 180-month principal and interest repayment period. APR examples are based on quarterly interest rates for Jan. 1 – March 31, 2015.

Privacy Terms of Use Identity Theft and Online Fraud

Iowa Student Loan is a nonprofit organization dedicated to providing the resources students and families need to succeed in postsecondary education. Iowa Student Loan provides scholarships, grant and loan forgiveness programs, and private student loans for those who have exhausted other sources of financial aid.

Aspire Resources Inc. provides customer service and resources on behalf of the U.S. Department of Education for borrowers with federal student loans through the William D. Ford Federal Direct Loan Program (Direct Loan).

Aspire Servicing Center provides customer service and resources for borrowers with federal student loans previously serviced by Iowa Student Loan and for borrowers with private student loans offered by Iowa Student Loan and a number of other lending institutions.

6775 Vista Drive, West Des Moines, IA 50266-9305
Copyright ©2012-2015 Iowa Student Loan®
Use of this site signifies your agreement to the Terms of Use and Online Privacy Statement