Research Loans

Paying for college and deciding to take out student loans can seem overwhelming at first. Understanding the difference between federal and private student loans is the first step in making the right decision and getting the best financing for your education.

It's important to remember that student loans are debts that must be repaid. For most student loans, repayment will begin after you’ve graduated, left college or dropped to less than half time.

Federal Student Loans

To find out if you qualify for any federal student loans, you will need to complete the Free Application for Federal Student Aid (FAFSA). The results of the FAFSA will be shared with the schools you list on the form, and those results will allow your school to award you financial aid. After exhausting all other sources of financial aid, federal student loans can help you achieve your goals of earning a postsecondary education.

Private Student Loans

Private student loans can help to bridge the gap between any government student aid you receive and the amount needed to attend your school of choice. Applying for a private student loan should only be considered after you have exhausted all federal student loan options.

The Iowa Alliance Private Student Loan Program is provided by Iowa Student Loan and its Partnering Lending Institutions. This private loan program is for students who received an Iowa Student Loan Partnership Loan during the 2007-2008 academic year.

The Iowa Alliance Private Student Loan Program has limited funds that have been allocated to Iowa residents attending eligible Iowa colleges and universities by sector. Additional eligibility criteria exists, so please check with the financial aid office at your school to determine your eligibility for this program and if funding is still available.