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Private Student Loans

Private student loans are supplemental loans that are intended to fill any gaps in funding college after all other financial aid resources — 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.

Looking for a Private Student Loan?

We proudly offer the Partnership Advance Education Loan® (Partnership Loan) to help you with any college funding shortfall. This private student loan features both fixed and variable interest rate options with different in-school payment choices for undergraduate and graduate students. Students may need a cosigner to qualify for the Partnership Loan, but applicants who meet the underwriting and credit criteria are not required to provide cosigners.

Iowa Student Loan has offered private student loans for more than 20 years. During that time, we have helped approximately 120,000 students obtain the additional funding necessary to achieve their postsecondary education goals. We work hard to offer education loans with competitive rates and clearly defined terms and conditions that are provided upfront, before a student even begins the application process.

In addition to the Partnership Loan, we offer the Iowa Alliance Private Student Loan ProgramSM, which is a limited, variable-rate, no-cosigner loan for students who have previously been denied a cosigned private student loan.

These loans are subject to credit approval.

Already started your application? Manage your application or review your disclosures.

Additional Resources

Looking for more information about financial aid and student loans? Use these private student loan resources to learn more.

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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.

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