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Board Leadership

Appointed by the governor of Iowa, this dedicated leadership team has decades of executive experience in finance, education and strategic planning needed to provide appropriate direction and oversight to ensure we adhere to our mission and meets our obligations. Iowa Student Loan supports the Education Finance Council's Guiding Principles (PDF). Throughout this report, you may choose to highlight these best practices or return to regular viewing.

Corporate Overview

Image of Iowa Financial Know-How Challenge: Senior Scholarship award ceremony

Since 1979, Iowa Student Loan has helped families obtain the resources necessary to succeed in postsecondary education, including the various aspects of financing that education.

Appointed by the governor of Iowa, Iowa Student Loan board members provide appropriate direction and oversight to guide the development of these resources, support our nonprofit mission and expand our community reinvestment efforts. Board members serve on numerous committees, meet regularly to review budget and fiscal reports, analyze customer satisfaction data and provide project and program direction. Outcomes of our meetings are regularly reported to the governor and other public officials.

In 2016, we strived to share our programs and resources with new audiences and address the needs of those who may otherwise be overlooked or are not receiving sufficient information. New external partnerships were formed in support of community programs with similar goals. We also expanded our digital presence and communications efforts in an effort to reach more students and families.

Our products continue to provide supplemental funding, filling any gaps after financial aid resources have been exhausted, for traditional college students. But in 2016, we entered into new ventures and offered even more opportunities for students to find funding for college and repay any student debt.

Within this annual report, I'm pleased to share more details on the accomplishments Iowa Student Loan made in 2016 to deliver on its nonprofit mission.

Christine L. Hensley

Chair, Iowa Student Loan Board of Directors

Nonprofit Mission

Iowa Student Loan is a private, nonprofit corporation, helping Iowa students and families obtain the resources necessary to succeed in postsecondary education.

Helping Families Pay for College

Since inception Iowa Student Loan has helped more than 392,500 students pay for college.

Customer service functions are performed from our West Des Moines office for nearly 170,000 current borrowers. These borrowers consistently provide high satisfaction scores on monthly surveys.

Iowa Economic Impact

Just six years after our creation, in 1985, we employed 16 people. In 2000, we employed 135, and today, we have an employee base of 220 people with 99% residing in Iowa.

Employee numbers image

We understand that our continued growth as an organization positively impacts the local economy and we work hard to maintain and grow local jobs by providing competitive salaries and benefits, including 401(k) with corporate match and pension, in addition to payroll deferral to College Savings Iowa 529 Plans, tuition reimbursement and student loan refinancing options.

In 2016, our employees expanded their philanthropic reach and made a positive impact on additional local and regional charities through service, donations, events and outreach.

Supporting Free Community Programs

Iowa Student Loan uses available corporate resources for community reinvestment programs supporting our mission each year. Approved annually by the board of directors, this figure represents the budgeted total dedicated to community reinvestment programs, which range from our Senior Scholarship to support for like nonprofit organizations programs that provide additional support for Iowa students and families.

Dollars Dedicated to Community Reinvestment Image.

Leadership Team

Iowa Student Loan and our subsidiary, Aspire Resources Inc., are based in West Des Moines, Iowa, and manage $2.6 billion in student loans. Iowa Student Loan does not have shareholders, and we do not receive state appropriations.

Since 1979, Iowa Student Loan has helped families obtain the resources necessary to succeed in postsecondary education. And each year we find new ways to help families pay for college and expand our reach to help more families understand their education financing options.

In 2016, we further expanded our programs and partnerships to provide additional resources for Iowans seeking to complete college, begin a career and repay any student debt.

This annual report contains further details about those initiatives and the accomplishments Iowa Student Loan made in 2016 to deliver on its nonprofit mission.

Iowa Student Loan Board

The current Iowa Student Loan board of directors includes the following members:

Christine Hensley
Chair, Des Moines

Tammy Bramley
Vice Chair, Ute

Dan Clute

Rob Denson

Lorraine Groves
Sioux City

Laurie Hempen
New London

Miles Lackey

Marcia Rogers
Cedar Rapids

Jim Schipper

Scott Schneidermann
Rock Rapids

Adam Voigts


Aspire Resources Inc. Board

Aspire Resources Inc. is a wholly owned, for-profit subsidiary of Iowa Student Loan performing functions not specifically included in Iowa Student Loan's original tax-exempt designation.

The Aspire board of directors is appointed annually by the Iowa Student Loan board of directors, and Iowa Student Loan is the parent company and sole owner of Aspire. All revenues beyond operating expenses and reserves are returned to Iowa Student Loan to fulfill our nonprofit purpose of helping Iowa students and families.

Aspire employees perform customer service for student loan borrowers under the name Aspire Servicing Center.

Dr. Norm Nielsen
Chair, Cedar Rapids

Dr. John Hartung
Vice Chair, Indianola

Catherine "Kay" E. Beyerink
Sioux City

John Hintze
West Des Moines

Tony Kaska

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Subject to credit approval, loans are made by Iowa Student Loan Liquidity Corporation or Bank of Lake Mills. Bank of Lake Mills does not have an ownership interest in Iowa Student Loan Liquidity Corporation. Bank of Lake Mills is not affiliated with the school you attended or are attending. Bank of Lake Mills is Member FDIC. Loan servicing, including billing and other customer service, will be provided by Aspire Servicing Center.