Advantages of Paying Your Loan on Time

Repaying your student loans is a serious legal obligation, so you need to set aside enough money to make your student loan payment on time and in full each month.

Iowa Student Loan depends on you to uphold your promise to repay your loan so that we can make loans to other deserving students.

By paying your student loan on time, you are acting as a responsible borrower. You are also successfully managing your finances and establishing good credit.

Each month, Iowa Student Loan provides a report on your account to four credit reporting agencies, Equifax, Experian, Innovis and TransUnion. Paying your student loan on time will have a positive impact on your credit report, whereas if your account is past due, your application could be denied when you try to open a line of credit.