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.
Iowa Student Loan® is a private, nonprofit corporation offering supplemental private student loans to help you pay for college.2
The Partnership Advance Education Loan® (Partnership Loan):
- Provides terms and conditions upfront, so you know what you’re getting before you apply.
- Features variable and fixed interest rates.
- Lets you make principal and interest payments, make interest-only payments or defer payments while in school.
- Offers benefits such as an interest rate reduction and cosigner release.
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.
1Bank Midwest does not accept applications for private student loans. These providers are listed for your convenience.
2Bank Midwest is compensated by Iowa Student Loan for the referral of Partnership Loan customers.