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Learn More about Reset Loan
If you're paying high interest rates on your education loans, the Reset Loan might be right for you. This competitive student loan refinance program features fixed interest rates with three repayment terms and an interest rate reduction benefit.
Options
With the Reset Loan, you choose which repayment term is best for you. View the different tabs below for financial details and examples for $25,000 loans.
Note: The Reset Loan may only consist of current education debt and must be:
 At least $5,000.
 No more than $150,000.
Iowa Residents
Examples for a $25,000 Loan
If your FICO^{1} score is ... 
Interest Rate 
Origination Fee 
Annual Percentage Rate 
Finance Charge 
Principal & Interest Monthly Payment 
830 or more^{2} 
4.25% 
0% 
4.24% 
$2,790 
$463 
760–829^{3} 
5.15% 
0% 
5.14% 
$3,405 
$473 
720–759^{4} 
5.99% 
0% 
5.98% 
$3,987 
$483 
NonIowa Residents
Examples for a $25,000 Loan
If your FICO^{1} score is ... 
Interest Rate 
Origination Fee 
Annual Percentage Rate 
Finance Charge 
Principal & Interest Monthly Payment 
830 or more^{5} 
4.50% 
0% 
4.49% 
$2,960 
$466 
760–829^{6} 
5.40% 
0% 
5.39% 
$3,577 
$476 
720–759^{7} 
6.24% 
0% 
6.23% 
$4,161 
$486 
^{1} The FICO score used is the TransUnion FICO Score 4, which is based on data from TransUnion and may be different from other credit scores. FICO is a registered trademark of the Fair Isaac Corporation.
^{2} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 4.25% during the 60month principal and interest repayment period.
^{3} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 5.15% during the 60month principal and interest repayment period.
^{4} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 5.99% during the 60month principal and interest repayment period.
^{5} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 4.50% during the 60month principal and interest repayment period.
^{6} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 5.40% during the 60month principal and interest repayment period.
^{7} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 6.24% during the 60month principal and interest repayment period.
Iowa Residents
Examples for a $25,000 Loan
If your FICO^{1} score is ... 
Interest Rate 
Origination Fee 
Annual Percentage Rate 
Finance Charge 
Principal & Interest Monthly Payment 
830 or more^{2} 
5.30% 
0% 
5.30% 
$7,256 
$269 
760–829^{3} 
6.15% 
0% 
6.15% 
$8,525 
$279 
720–759^{4} 
7.00% 
0% 
7.00% 
$9,824 
$290 
NonIowa Residents
Examples for a $25,000 Loan
If your FICO^{1} score is ... 
Interest Rate 
Origination Fee 
Annual Percentage Rate 
Finance Charge 
Principal & Interest Monthly Payment 
830 or more^{5} 
5.55% 
0% 
5.55% 
$7,626 
$272 
760–829^{6} 
6.40% 
0% 
6.40% 
$8,904 
$283 
720–759^{7} 
7.25% 
0% 
7.25% 
$10,212 
$293 
^{1} The FICO score used is the TransUnion FICO Score 4, which is based on data from TransUnion and may be different from other credit scores. FICO is a registered trademark of the Fair Isaac Corporation.
^{2} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 5.30% during the 120month principal and interest repayment period.
^{3} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 6.15% during the 120month principal and interest repayment period.
^{4} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 7.00% during the 120month principal and interest repayment period.
^{5} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 5.55% during the 120month principal and interest repayment period.
^{6} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 6.40% during the 120month principal and interest repayment period.
^{7} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 7.25% during the 120month principal and interest repayment period.
Iowa Residents
Examples for a $25,000 Loan
If your FICO^{1} score is ... 
Interest Rate 
Origination Fee 
Annual Percentage Rate 
Finance Charge 
Principal & Interest Monthly Payment 
830 or more^{2} 
5.69% 
0% 
5.69% 
$12,216 
$207 
760–829^{3} 
6.47% 
0% 
6.47% 
$14,117 
$217 
720–759^{4} 
7.25% 
0% 
7.25% 
$16,068 
$228 
NonIowa Residents
Examples for a $25,000 Loan
If your FICO^{1} score is ... 
Interest Rate 
Origination Fee 
Annual Percentage Rate 
Finance Charge 
Principal & Interest Monthly Payment 
830 or more^{5} 
5.94% 
0% 
5.94% 
$12,820 
$210 
760–829^{6} 
6.72% 
0% 
6.72% 
$14,736 
$221 
720–759^{7} 
7.50% 
0% 
7.50% 
$16,705 
$232 
^{1} The FICO score used is the TransUnion FICO Score 4, which is based on data from TransUnion and may be different from other credit scores. FICO is a registered trademark of the Fair Isaac Corporation.
^{2} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 5.69% during the 180month principal and interest repayment period.
^{3} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 6.47% during the 180month principal and interest repayment period.
^{4} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 7.25% during the 180month principal and interest repayment period.
^{5} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 5.94% during the 180month principal and interest repayment period.
^{6} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 6.72% during the 180month principal and interest repayment period.
^{7} Annual percentage rate (APR), finance charge and monthly payments are based on borrowing $25,000, a 0% origination fee and a fixed interest rate of 7.50% during the 180month principal and interest repayment period.
Repayment Benefits
Reset Loan borrowers can earn a 0.25% interest rate reduction^{1} when they sign up to have principal and interest payments automatically withdrawn from a checking or savings account using our autodebit program.
Death or Disability: In the unfortunate event of a borrower's death or qualifying total and permanent disability, Iowa Student Loan will forgive the loan and not require cosigner(s) or the borrower's estate to satisfy the loan obligation.
In addition, if a cosigner suffers a qualifying total and permanent disability, Iowa Student Loan will release the cosigner from his or her obligation. In the event of a cosigner's death or qualifying total and permanent disability, the borrower will not be required to find a new cosigner for an existing loan. Please contact us for details.
Please consult a tax professional or the IRS for information about possible tax consequences of loan forgiveness.
^{1} The 0.25% interest rate reduction will apply to loans once payments begin to be automatically deducted. The reduction will remain in effect as long as automatic payments continue without interruption during the repayment period. The 0.25% interest rate reduction will not lower the monthly payment amount but will instead reduce the interest amount that accrues. The interest rate reduction will be suspended during approved deferment(s) or forbearance(s) or if automatic payments are rejected due to insufficient funds.
Eligibility and Underwriting Criteria
The Reset Loan is for creditworthy borrowers (those who meet the underwriting and credit criteria). Applicants who do not meet the underwriting and credit criterial on their own may apply with one or more creditworthy cosigner(s).
Borrowers and cosigners must be citizens or permanent residents of the United States. In addition, you and your cosigner(s) cannot have defaulted on any private or government student loan.
To qualify for the Reset Loan, you or your cosigner(s) must:
 Have monthly payments for approved credit (mortgages, rent, car loans, credit cards and other forms of credit) that do not exceed 40% of gross monthly income (if a mortgage or rent is not included, debttoincome ratio cannot exceed 25%). All student loan debt will be treated as though it is in repayment.
 Provide continuous employment verification covering the last two years if you or your cosigner earn a wage but do not receive a W2. (This requirement may be waived for retirees, disabled persons or those receiving a verified income.)
 Have an annual income of at least $25,000.
 Have a FICO score of at least 720. (The FICO score used is the TransUnion FICO Score 4, which is based on data from TransUnion and may be different from other credit scores. FICO is a registered trademark of the Fair Isaac Corporation.)
 Have no more than two accounts reporting 30day delinquencies during the previous two years.
 Have no delinquencies of 60 days or more during the previous two years.
 Have no chargeoffs, repossessions, collection accounts, judgments, foreclosures, garnishments by credit providers or tax liens.
 Have no previous bankruptcies.
Please note that the list of criteria above may not be exhaustive. Iowa Student Loan may require you or your cosigner(s) to meet additional criteria in order to qualify for a loan. Iowa Student Loan reserves the right to change the list of criteria in any way from time to time.
Refinance Estimator
This refinance estimator figures the estimated monthly payment based on a fixed interest rate and a standard repayment plan, meaning that the repayment amount is the same each month for the life of the loan as long as payments are made on the due date in full each month.
Select your state of residence:
How much do you plan to refinance?
If your FICO score is: 
Your estimated monthly payment is: 
Your estimated total finance charges are: 
5year term 
830 or more 


760–829 


720–759 


If your FICO score is: 
Your estimated monthly payment is: 
Your estimated total finance charges are: 
10year term 
830 or more 


760–829 


720–759 


If your FICO score is: 
Your estimated monthly payment is: 
Your estimated total finance charges are: 
15year term 
830 or more 


760–829 


720–759 


The information provided is an estimate of monthly payments and finance charges. Actual payments and finance charges may vary based on the final loan amount, the type of repayment program selected, when payments are received and other factors. The actual amount of monthly payments will be provided to borrowers on a repayment schedule or a Truth in Lending Act disclosure, as applicable.
FICO scores are based on data from TransUnion and may be different from credit scores. FICO is a registered trademark of the Fair Isaac Corporation.
