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 Rate Reduction Program.
Through the program, service members can get interest reduced to 0.00% for up to 24 months on private student loans.
Service members may be eligible for the program if:
- They were deployed under Title 10 between Sept. 11, 2001, and June 30, 2015.
- While on federal active duty, they 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. Borrowers should consult their tax adviser regarding any tax consequences resulting from an interest reduction.
Learn how to apply.