Military Mobilization and Your Student Loan
Iowa Student Loan® stands ready to help you — the nation's armed forces and its National Guard and Reserve troops — understand the benefits you're entitled to.
Loan Information on This Page
Read below about military benefits for the following Federal Family Education Loan Program (FFELP) loans:
- Stafford
- Supplemental Loan for Students (SLS)
- PLUS
- Consolidation
Note: Assistance is also available to borrowers with Iowa Student Loan private loans.
Deferment Request Forms
You may download the following FFELP loan program forms:
FFELP Loan Programs
You can receive help with federal loan repayment through:
- Interest rate reduction
- Military deferment and extension
- Post-active duty student deferment
- Public service deferment
Note: Please send Iowa Student Loan a copy of your military activation/deactivation papers.
Interest Rate Reduction
You may be eligible to have your interest rate lowered to 6.00% under the Servicemembers Civil Relief Act if your loan(s) were disbursed before your activation. Please contact Iowa Student Loan to see if you qualify for this rate reduction.
Military Deferment and Extension
You may qualify for a military deferment under one of the following conditions:
| You are on active duty during: |
You are on qualifying National Guard duty during: |
- A war.
- Another military operation.
- A national emergency.
|
Loan Status — Repayment
If your loans are currently in a repayment status (other than in an in-school deferment or graduate fellowship deferment status) a deferment can be granted for the expected period of your active duty, beginning on the first day of active duty.
Additional Information
You may be eligible for additional deferments or extensions.
| You May Qualify for… |
If… |
Your Next Step |
| Extended Loan Status
You are entitled to maintain your loan status while you:
- Are on active duty or reassigned.
- Resume enrollment in the next enrollment period.
|
Your loan status is one of the following when you are called to active duty:
- In-school.
- Grace period.
- In-school deferment.
- Graduate fellowship deferment.
|
Contact Iowa Student Loan for additional information. |
| 13-Month Post-Active Duty Student Deferment |
You choose to not return to school upon deactivation. |
See details in the related section below. |
| 180-Day Extension on Military Deferment |
You were on active duty on or after Oct. 1, 2007. |
Contact Iowa Student Loan to see if you qualify for this additional time. |
Please contact Iowa Student Loan for more information regarding military mobilization and your student loans.
Post-Active Duty Student Deferment
You may qualify for a post-active duty student deferment of 13 months if you meet all the following criteria:
- You are an active or retired member of the National Guard or Reserve.
- You were called to duty while in school.
- You were enrolled at least half time in an eligible school at the time of or within six months prior to your activation.
- Your service includes a period on or after Oct. 1, 2007.
- You choose to not return to school upon deactivation.
Please contact Iowa Student Loan to see if you qualify for this deferment.
Public Service Deferment
You may qualify for a public service deferment if you have one of the following:
- An outstanding FFELP loan made before July 1, 1993.
- A balance on a FFELP loan when you received another loan disbursed on or after July 1, 1993.
Request Form
Download the Public Service Deferment Request (PDF)
Please contact Iowa Student Loan for more information regarding military mobilization and your student loans.
Return to Top
Private Loan Program
Armed Forces Interest Rate Reduction Program
As an Iowa Student Loan private loan borrower, you may use up to 84 months of deferment time over the life of your loan(s) if you are deployed while in school or your loans are in repayment. Please contact Iowa Student Loan to determine your available deferment time. You must provide a copy of your orders to Iowa Student Loan for deferment processing.
Learn more about the Iowa Student Loan Armed Forces Interest Rate Reduction Program.
Please contact Iowa Student Loan for more information regarding military mobilization and your student loans.
Return to Top
|