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Partnership Loan

If you need more than financial aid, savings and other income to pay for college, the Partnership Advance Education Loan offers Iowa students and those attending college in Iowa a number of options so that you can choose the one that best fits your financial situation.

Fixed Annual Percentage Rate

5.50% APR–6.85% APR

Variable Annual Percentage Rate

5.86% APR–7.76% APR

View APR Examples for All Options (PDF) APR examples are based on quarterly interest rates for July 1–Sept. 30, 2019.

Applying Is Simple


Provide basic information.

Enter information about yourself and school. Consider applying with one or two cosigners.


Choose your option.

Select between a fixed or variable rate and choose from one of three in-school payment options.


Sign and accept your loan.

Review and sign your application and submit any supporting documents.

All the details. It's a simple idea. We think you should know our credit requirements so you can determine if you qualify before applying.

You Decide When to Start Repaying

There are both benefits and drawbacks to making payments of some sort while you’re in school or postponing repayment until after your college days are behind you.

Pay Now

Immediate Payment Option

In College After College
Principal & Interest Principal & Interest

Pay Interest During School

Interest-Only Payment Option

In College After College
Interest Payments Principal & Interest

Pay Later

Deferred Payment Option

In College After College
No Payments Principal & Interest

See How the Partnership Loan Compares
  Iowa Student Loan Discover Sallie Mae Wells Fargo
Fixed and Variable Rates The Partnership Loan offers fixed and variable rates. Discover offers fixed and variable rate loans. Sallie Mae offers fixed and variable rates loans. Wells Fargo offers fixed and variable rates loans.
Rates Defined by Credit Score Upfront The Partnership Loan offers upfront rates defined by credit score. Discover does not provide upfront rates. Sallie Mae does not provide upfront rates. Wells Fargo does not provide upfront rates.
No Late Fees The Partnership Loan does not have late fees. Discover does not have late fees. Sallie Mae assesses late fees. Wells Fargo assesses late fees.
The Better Choice Iowa Student Loan and the Partnership Loan is the better choice. When compared to Discover the Partnership Loan is the better choice. When compared to Sallie Mae the Partnership Loan is the better choice. When compared to Wells Fargo the Partnership Loan is the better choice.
  Apply Now See more ways we compare to national lenders.

Common Questions

No. Before students and families consider a private student loan, we strongly encourage them to understand and take advantage of all sources of student financial aid, including federal loans for students . Iowa Student Loan's Partnership Advance Education Loan (Partnership Loan) is designed to supplement — not replace — other sources to fill funding gaps for students and parents. Students and parents should work with financial aid professionals at their respective colleges and universities to explore and exhaust all sources of student financial aid before seeking a Partnership Loan.

To be eligible for this private student loan program, you must:

  • Be of majority age pursuant to applicable law at the time of application or be an emancipated minor. An applicant, who is an Iowa resident, not of majority age may apply with an eligible cosigner.
  • Not have defaulted on any private or government student loan.
  • Be attending any nonprofit, Title IV eligible, degree-granting, accredited college or university or nonprofit school of nursing approved by the Iowa Board of Nursing.
    • Iowa residents may attend any eligible school in the country.
    • Non-Iowa residents must attend an eligible school in Iowa.
  • Be accepted, enrolled or attending on at least a half-time basis, as defined by the school, and be making satisfactory academic progress in an eligible education program.
  • Be a citizen or permanent resident of the United States. Cosigners must be citizens or permanent residents of the United States and must reside in the United States. Military addresses are considered U.S. addresses if designated as an APO or FPO.

You can release any cosigners from payment obligations:

  1. After the first 24 consecutive monthly principal and interest payments are received on time.
  2. If you meet the underwriting and credit criteria at the time the cosigner release is requested.

You may borrow up to the cost of attendance minus other aid each year. Your school must certify that the amount you are requesting does not exceed this amount.

The cumulative maximum amount you can borrow from Iowa Student Loan is $80,000.

Use the student loan payment calculator to estimate how much your monthly student loan payment will be once you start repayment.

You can earn a 0.25% interest rate reduction by signing up to have principal and interest payments automatically withdrawn. The 0.25% interest rate reduction will apply once payments begin to be automatically deducted. The reduction will remain in effect as long as automatic payments continue without interruption during the repayment period. The 0.25% interest rate reduction will not lower the monthly payment amount but will instead reduce the interest amount that accrues. The interest rate reduction will be suspended during approved assistance or if automatic payments are rejected due to insufficient funds.

Interest that is not paid during deferments or under other circumstances is capitalized (or added to the principal balance of the loan). Interest on the Partnership Loan capitalizes at:

  • The end of any qualifying deferment period for all loan options.
  • The start of repayment status for loans that do not require principal and interest or interest-only payments while the student is enrolled and during the separation period.
  • The final disbursement of loans that require monthly principal and interest payments while the student is enrolled in school and that have more than one disbursement.

You may qualify for assistance based on your situation. Please call us as soon as possible if you experience issues, so we can help you avoid delinquency.

In the unfortunate event of a borrower’s death or qualifying total and permanent disability, Iowa Student Loan will forgive the loan and not require cosigners or the borrower’s estate to satisfy the loan obligation. A tax professional or the IRS can provide additional information about possible tax consequences of loan forgiveness.

No; in the event of a cosigner’s death or qualifying total and permanent disability, you will not be required to find a new cosigner for an existing loan. In addition, if a cosigner suffers a qualifying total and permanent disability, Iowa Student Loan will release the cosigner from his or her obligation.

Customer service for all loans offered by Iowa Student Loan will be provided by Aspire Servicing Center, a wholly owned subsidiary of Iowa Student Loan.