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Iowa Student Loan

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Private Student Loans

When you choose to work with us, you will find we offer education loans with competitive rates and clearly defined terms and conditions that are provided upfront. Our two private loan programs are the:

  • Partnership Advance Education Loan® (Partnership Loan) for undergraduate and graduate students.
  • College Family LoanSM for others (parents, family members, friends, etc.) who wish to borrow on behalf of a student to help with costs for undergraduate or graduate studies.
Private Student Loans Image

Questions? Call our experts at (844) 268-2203.

Iowa Student Loan has offered private student loans for more than 20 years and has helped approximately 120,000 students obtain the additional funding necessary to achieve their postsecondary education goals.

Private Loan Options

The Partnership Loan and College Family Loan are very similar programs, other than who the borrower is. Both loans feature three in-school payment options — immediate payment, interest only and deferred — so that you can choose the loan that works with your budget and financial goals. Review the following chart for a snapshot of the differences between the loans.

  Partnership Loan College Family Loan
Borrower Student Parent, family member or friend
Cosigner(s) Required if the applicant (borrower) does not meet the underwriting and credit criteria on his or her own and will be a responsible party to the debt Required if the applicant (borrower) does not meet the underwriting and credit criteria on his or her own and will be a responsible party to the debt
Interest Rates Fixed and variable rates Fixed rates only
Benefits Interest rate reduction for automatic payments and cosigner release option Interest rate reduction for automatic payments

These loans are subject to credit approval.

Keep in Mind

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.

Refinance Loan Option

We created the Reset Refinance LoanSM (Reset Loan) for borrowers who want to refinance or consolidate their existing student loan debt. The Reset Loan may help provide lower interest rates and simplified repayment on student loans.

The Reset Loan is subject to credit approval.

Additional Resources

Looking for more general information about financial aid and student loans? Use these private student loan resources to learn more about the financial aid process, private student loans, credit scores and ways to reduce loan costs.

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