Looking for a supplemental private student loan to help pay for college?
If you live or plan to attend school in Iowa or Minnesota, we have options to consider when financing your education.1
1. Complete the FAFSA.
The first step in applying for financial aid, which includes federal student loans, is completing the Free Application for Federal Student Aid (FAFSA). The FAFSA is a free form provided by the U.S. Department of Education that may be completed without professional assistance via paper application or online at www.fafsa.gov. In your award letter from your college, the financial aid office will inform you of your eligibility for federal student loans.
2. Work with your college financial aid office.
Contact the financial aid professionals at your college or university to explore and exhaust other sources of federal, state and/or institutional financial aid before seeking a private student loan. Accepting a private loan before using other types of available aid may decrease your eligibility for federal, state and institutional aid.
3. Consider private loans.
Bank Midwest has partnered with Iowa Student Loan® to offer two supplemental private student loan programs*.
- The Partnership Advance Education Loan (Partnership Loan) can help you pay for college while you’re in school.
- The Reset Refinance Loan (Reset Loan) can help you simplify repayment or pay lower interest for existing student loans after you finish college.
|The Partnership Loan:
The Reset Loan lets you refinance or combine existing student loans into one new loan. This may help you if you have student loans with higher interest rates or are making payments to a number of different servicers.
The Reset Loan features:
Students in Minnesota can take advantage of long-term, low-interest post high school educational loans offered by the SELF program administered by the Minnesota Office of Higher Education, a state agency.
In South Dakota:
The South Dakota Board of Regents has published a list of resources for students to find more information about paying for college.
1Bank Midwest does not accept applications for private student loans. These resources are listed for your convenience.
2Bank Midwest is compensated by Iowa Student Loan for the referral of Partnership Loan customers.