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Who We Are

Iowa Student Loan is a nonprofit corporation offering private student loans for students and families who have exhausted other sources of aid. In addition, we provide scholarships and programs for Iowa families, and reinvest funds in programs to benefit Iowa students and borrowers.

Established in 1979, Iowa Student Loan is based in West Des Moines. We are self-funded and self-capitalized. For 40 years, we have worked to support the local economy by maintaining and growing jobs and providing competitive salaries and benefits. Along with our subsidiary, we employ more than 200 people and manage $2.6 billion in student loans. We do not have shareholders nor do we receive state appropriations.

Operating as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code, Iowa Student Loan is subject to strict regulation of its exempt purpose and use of funds.


Our mission is to help Iowa students and families obtain the resources necessary to succeed in postsecondary education.

See how we put our mission into practice.

About Our Subsidiary

Aspire Resources Inc. was originally created as ISL Service Corp. in 2001 as a wholly owned, for-profit subsidiary of Iowa Student Loan. Its purpose is to perform functions not specifically included in Iowa Student Loan’s original tax-exempt designation. Aspire disburses private student loans on behalf of its partnering lenders, transmits student loan data among postsecondary institutions and lenders, and provides customer service on behalf of its external business partners and to borrowers with federal and private student loans.

Aspire employees perform customer service for borrowers under the name Aspire Servicing Center. Aspire employees also provide private loan services and facilitate student loan data transfers for postsecondary educational institutions and lenders through the iLink Service Center.

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 its nonprofit purpose of helping Iowa students and families.

Visit to learn more about Aspire, or visit to learn more about Aspire Servicing Center.

Board of Directors

The Iowa Student Loan board of directors is appointed by the governor of Iowa. Board members represent education, banking and the general public. The board provides extensive levels of oversight and checks and balances ensuring Iowa Student Loan adheres to its mission and meets its obligations.

Board member, Christine Hensley

Christine Hensley
Chair, Des Moines
Represents: Banking Institutions

Board member, Tammy Bramley

Tammy Bramley
Vice Chair, Ute
Represents: General Public

Board member, Dan Clute

Dan Clute
Represents: General Public

Board member, Rob Denson

Rob Denson
Represents: Community Colleges

Board member, Nancy Dunkel

Nancy Dunkel
Represents: Regents Institutions

Board member, Lorraine Groves

Lorraine Groves
Sioux City
Represents: Credit Unions

Board member, Laurie Hempen

Laurie Hempen
New London
Represents: General Public

Board member, Marcia Rogers

Marcia Rogers
Cedar Rapids
Represents: General Public

Board member, Jim Schipper

Jim Schipper
Represents: Banking Institutions

Board member, Scott Schneidermann

Scott Schneidermann
Rock Rapids
Represents: Savings and Loan Institutions

Board member, Adam Voigts

Adam Voigts
Represents: Private Colleges and Universities


Board of Directors Meeting Schedule and Minutes

Pursuant to Iowa Student Loan policy, board meetings are open to the public. Listed are the dates, times, locations and details of the Iowa Student Loan Board meetings, along with links to meeting minutes.

Board of Directors Meeting Schedule and Minutes
Date Time Loacation Details
Jan. 17, 2019 (PDF) 2:30 p.m. Iowa Student Loan Board Room Board Meeting
March 28, 2019 (PDF) 3:00 p.m. Iowa Student Loan Board Room Board Meeting
May 16, 2019 (PDF) 3:00 p.m. Iowa Student Loan Board Room Board Meeting
July 18, 2019 (PDF) 11:45 a.m. University of Iowa, Iowa City Board Meeting
Sept. 19, 2019 (PDF) 3:00 p.m. Iowa Student Loan Board Room Board Meeting
Dec. 5, 2019 TBD Iowa Student Loan Board Room Board Meeting

Executives and Management

Executive, Steven W. McCullough

Steven W. McCullough
President and Chief Executive Officer

Executive, Erin Lacey

Erin Lacey
Executive Vice President and Corporate Treasurer

Management, Cindy Bartz

Cindy Bartz
Vice President of Project Management and Chief Information Officer

Management, Joe Bird

Joe Bird
Senior Vice President of Business Development and Client Relations

Management, Mary Kay DeBolt

Mary Kay DeBolt
Senior Vice President of Operations and Corporate Secretary

Management, Ron Foresman

Ron Foresman
Vice President of Accounting and Risk Management

Management, Greg Nichols

Greg Nichols
Senior Vice President of Public Affairs and Community Relations