Armed Forces Interest Reduction
Iowa Student Loan recognizes and appreciates the sacrifices made by members of the military and their families. To assist service members with their student loan, we offer the Iowa Student Loan Armed Forces Interest Reduction Program.
Through the program, service members can get interest reduced to 0.00% for up to 24 months on private student loans.
You may be eligible for the program if:
- You were deployed under Title 10 between Sept. 11, 2001, and June 30, 2017.
- While on federal active duty, you have a non-defaulted private loan owned by Iowa Student Loan during the period of eligibility.
Note: Iowa Student Loan is required to issue a 1099-C form to the IRS and the borrower reporting a reduction of indebtedness of $600 or more. You should consult your tax adviser regarding any tax consequences resulting from an interest reduction.
Call Iowa Student Loan directly at (855) 811-9849 to learn more.