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No-Cosigner Undergraduate Student Loan

No-fee loan for juniors and seniors studying in Iowa and Illinois

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* Will not impact your credit score.

Partnership No-Cosigner Loan for Undergrads

This unique new loan was created for students at the junior level and higher who are enrolled in full-time studies at an Iowa or Illinois college. Borrowers must make $251 monthly payments per Partnership No-Cosigner Loan for Undergrads while enrolled until principal and interest payments begin.

Have a Cosigner?

Students with creditworthy cosigners can get a lower rate with the Partnership Advance Education Loan

Fixed Annual Percentage Rate

8.24% APR1

View APR Example (PDF)

Rate does not include the auto-debit discount, which will lower the rate.

Applying Is Simple

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Provide basic information.

Enter information about yourself and your college or university.

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Enter your loan amount.

Enter your requested loan amount and agree to receive occasional additional information via email.

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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.

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. The suite of Partnership Loan products are 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.
  • Not have defaulted on any private or government student loan.
  • Be attending any nonprofit, Title IV eligible, degree-granting, accredited Iowa or Illinois college or university or nonprofit school of nursing.
    • Nonprofit schools of nursing located in Iowa must be approved by the Iowa Board of Nursing.
  • Be attending on a full-time basis, as defined by the school, and be making satisfactory academic progress in an eligible education program.
  • Have a cumulative GPA of at least 2.75.
  • Be completing a majority of your coursework on campus (not online).
  • Be a U.S. citizen or permanent resident residing in the United States. (Maine residents are not eligible currently.) Military addresses are considered U.S. addresses if designated as an APO or FPO.
  • Agree to receive career information via email.
  • Complete Student Loan Game Plan while applying or within the last 270 days before applying.

No. At this time, the Partnership No-Cosigner Loan for Undergrads is only available for undergraduate students attending an eligible Iowa or Illinois college or university.

The Partnership No-Cosigner Loan for Undergrads is for full-time student borrowers at the junior or above grade level based on completed credits. Students must be attending an Iowa or Illinois college or university and taking the majority of classes on campus. Cosigners are not accepted for this loan. If you have a creditworthy cosigner, consider the Partnership Advance Education Loan as you may qualify for lower rates with that loan program.

To qualify, you must have:

  • A FICO score of at least 660. (The FICO score used is the TransUnion FICO Score 8, which is based on data from TransUnion and may be different from other credit scores. FICO is a registered trademark of the Fair Isaac Corporation.)
  • No more than $95,000 in total debt, which includes any monthly credit installments (e.g., federal or private student loans, car payments, etc.). The loan for which you are applying will not be included in this total debt amount.
  • No more than two accounts reporting 30-day delinquencies and no delinquencies of 60 days or more during the previous two years.
  • No charge-offs, repossessions, collection accounts, judgments, foreclosures, garnishments by credit providers or tax liens.
  • No previous bankruptcies.
  • Not defaulted on any private or government student loan.

Note: The list of criteria above may not be exhaustive. ISL Education Lending may require you to meet additional criteria in order to qualify for a loan. ISL Education Lending reserves the right to change the list of criteria in any way from time to time.

You may borrow up to the cost of attendance minus other aid annually, up to $17,500. Your school must certify that the amount you are requesting does not exceed this amount.

The minimum amount for this loan is $2,001. The minimum loan amount for residents of Massachusetts is $6,001.

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 this loan capitalizes at the end of any qualifying deferment period.

There are no origination, prepayment, late or other fees associated with this loan.

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 Liquidity Corporation will forgive the loan and not require 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.

Customer service for all loans offered by ISL Education Lending will be provided by our affiliate, Aspire Servicing Center.

  • 1 Annual percentage rate (APR) assumes a principal and interest repayment term of 15 years, borrowing $10,000, a 0% origination fee, a fixed interest rate of 8.51%, and deferring principal and interest for 42 months while requiring $25.00 monthly payments. While enrolled and during any separation period, you must make monthly payments of at least $25.00. The $25.00 monthly payments while enrolled may not be enough to fully pay the interest that will accrue while you’re enrolled. If the interest that accrues each month is more than $25.00, the amount of interest that is not paid will be added to your loan balance. Your loan balance may therefore increase while you’re enrolled in school even though you are making the required payments, which is called negative amortization. Because of the negative amortization, your loan will have a larger principal balance at the start of the principal and interest repayment period than the amount that you originally borrowed. Back to content