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Iowa Student Loans – All about the Iowa Student Loan Program

August 26, 2011

Iowa Student Loans

If you live in Iowa and are looking for help with tuition costs, then Iowa Student Loans can no doubt assist you with this process. If you are not familiar with who they are, Iowa Student Loans is a non profit private loan lender who is there to assist Iowa residence in getting money to use for their schooling. They were established in 1979 and have grown to now managaing over 3.5 billion dollars in loans anually. To get your even more familiar with them, the information below will expand even more on Iowa Student Loans explaining all the loan programs and the process in which they take to get the best loan for you.

Iowa Student Loans

Iowa Student Loans – Overview & Loan Programs

Basically what encompasses the Iowa Student Loans organization is both federal and private loans and are offered to their applicants as way to meet the financial needs of whatever you other financial aid, like grants, scholarships, family help, isn’t covering. When it comes to the Iowa Student Loans federal loan options, which they encourage you to pick first because of the affordablility and better repayment options, there are 4 different options that can help all differnt types of students. The 4 are:

  1. The Federal Perkins Loan
  2. The Federal Stafford Loan which has the option of subsidized, or based on financial need, or unsubsidized which is not based on financial need.
  3. Direct PLUS Loan
  4. Direct PLUS Loan option is also available to graduate students as well as students who are seeking a professional degree.

As far as the private loans go with Iowa Student Loans, they currently have 2 different options to choose from:

  1. The Partnership Advance Student Loan – This one comes with fixed rates and doesn’t require that you start paying it back until 6 months after school is over, and comes in three different forms. This option allows you to take out up to 80,000 dollars for school.
  2. Iowa Alliance Private Student Loan – Doesn’t require a co-signer and has an annual APR rate of 9.82 percent

Iowa Student Loans – Getting The Right One for YOU

If you go through Iowa Student Loans, they have a program that figures out the best program for you which is figured out by caluclating 5 different categories which are :

  1. Determining your need which will be calculated by figuring out how much your education will cost for the school you want to attend as well as factoring any other financial aid that you are receving not in the form of loans.
  2. The second step of the Iowa Student Loans process is to apply for a personal identification number, which will make the process of applying much easier for everyone. If you are taking out a loan with the help of a parent, they will need to get a PIN number as well.
  3. You will then fill out a Free Application for Federal Student Aid (FAFSA) which will determine which programs you are eligible for.
  4. The next step is the review of results.
  5. The last step of the Iowa Student Loans process is the review of the reward letter, where you will view see which financal aid programs you are eligible for.

If you like what you have seen here, and want to contact Iowa Student Loans to see what they can do for your financial aid needs, they can be contact by phone which is toll free through their customer service branch at: 1 -800-243-7552.