Who is Iowa Student Loan Corporation (ISL)?
Iowa Student Loan (ISL) was created in 1979 and offers a variety of student loan products from private loans to scholarships. In 40 years, Iowa Student Loan has grown to manage $2.6 billion in student loans. Iowa Student Loan Corporation operates as a 501 (c)(3) tax-exempt, non-profit organization.
Iowa Student Loans (ISL)
Iowa Student Loans, or ISL, offers loans for undergraduate and graduate students throughout the country. In addition to in-school loans, the company also provides student loan refinancing with their Reset Refinance Loan.
Undergraduate and Graduate Student Loans
ISL offers a range of private student loan options through their Partnership Advance Education Loan. This is a national program for undergraduate and graduate students. And cosigners are encouraged to help you qualify.
ISL also offers the Illinois Partnership Loan Program specifically for Illinois residents attending a college or university in the state of Illinois.
The Partnership No-Cosigner Loan for Undergrads targets full-time college juniors or higher, enrolled at an Iowa or Illinois college or university, and who are taking most of their classes on campus. These flexible loans can be used to cover various expenses such as tuition, books, fees, and more. Interest rates are fixed.
Undergraduate and graduate student loans come with three repayment options:
- Immediate payment: Make payments while still in school
- Interest-only payments: Make payments on your student loan interest only while in college
- Deferred payment option: Defer your payments until after college
Parent Loans
The College Family Loan is a national loan for parents and legal guardians who want to help undergraduate or graduate students by paying for their college education.
The College Family Loan comes with three repayment options:
- Immediate payment: Make payments while still in school
- Interest-only payments: Make payments on your student loan interest only while in college
- Deferred payment option: Defer your payments until after your son or daughter graduates
What is Iowa Student Loan (ISL) Refinancing?
Iowa Student Loan offers multiple refinance loan options, starting with the Reset Refinance Loan. This loan offers competitive fixed rates, zero origination fees, no pre-payment fees, and no late fees. You can include the following loan types in the Reset Refinance Loan:
- Federal Loans, including Parent PLUS Loans
- Private Loans
- Previously consolidated or refinance student loans
In-School Refinance
The Reset Refinance Loan for In-School Borrowers is available to current students or parents who wish to refinance their current student loan for a lower interest rate. ISL is one of the only lenders that provides this option. Most lenders require you to wait until you have finished school to refinance. With ISL you can get your rate in less than a minute without impacting your credit score. Apply with a cosigner for the best possible rates.
Parent Loan Refinance
To get a lower fixed rate, you can refinance Federal Parent PLUS Loans, as well as include your private student loans. ISL's parent refinance loan has a quick prequalification process and offers multiple repayment options. There are no origination fees, prepayment penalties or late charges.
| Pros | Cons |
|---|---|
| Non-profit lender offering competitive rates | Some products are limited to borrowers in Iowa or Illinois |
| You can utilize two cosigners | All cosigners must meet minimum credit criteria |
| No origination, application, prepayment or late fees | Repayment terms are not as generous as the federal loan options |
| 24-month cosigner release | |
| Most loan products offer fixed rates only |
Iowa Student Loan Corporation Customer Service
You can reach Iowa Student Loan Corp's customer service via phone five days a week, Monday-Friday. You can also email them or send correspondence to their West Des Moines, IA office.
Iowa Student Loan Corporation Headquarters
Iowa Student Loan Liquidity Corporation is headquartered are in West Des Moines, Iowa.