Iowa student loan liquidity
IOWA student loan was established in the year 1979 by Gov. Robert Ray., as a private, non profit corporation with an aim to provide finance at a low cost to the needy students and parents for completing their postsecondary education and provides thousands of college loans each year to Iowa students. The Iowa office is situated at West Des Moines , Iowa and the organization is supposed to be a self-funded and self-capitalized one with no shareholders etc. There are Board of Directors under Iowa who looks after the funds & ; finance. However, the funds are not allowed to be used for any personal purpose by the members of the Iowa team and are strictly meant for educational loan purpose. Till today Iowa has approved and provided loans to nearly 260,000 students.
It is observed that thousands of students under middle class family are suffering from lack of funds each year and depend upon private organizations for loan purpose as the other loan providers like bank etc. have lots of formalities which many time all the people cannot compile with.
ISL provides the best services and options for students and parents who can otherwise not afford a college education, and cannot pay college fee.
Iowa. students can take advantage if ISL interest rate and fee reductions on Federal Stafford loans, Federal Plus Loans and Federal Stafford Loans, as well as private loans, Additionally, ISL helps students consolidate their loans to take advantage of lower interest rates.
There different schemes under Iowa loan, like :
Federal Stafford Loan, Federal Plus loan, Federal Graduate Plus Loan borrowers, Nursing Education Loan Forgiveness Program, Teachers Loan Forgiveness Program etc.
Iowa also encourages students and parents to work in colleges and universities to learn about its sources of federal, state and institutional aid before borrowing the fund from Iowa.
For overcoming the shortages of funds if any, Iowa Student Loan works with Iowa s local banks and other credit unions for getting alternate sources of funding for easing the potential shortage of student loan finance. Under the worst circumstances also Iowa aims to help the needy students with funds even if national conditions are adverse.
It is seen that most of the ISL borrowers trust on the positive conditions offered by federal loans for financing college loans. Under a plan for disbursement of loans, students and parents can work directly with ISL for federal loans, which is a very good offer, and most of the middle income families can try taking advantage from this.
Iowa Student Loan is nevertheless considered to have highest customer service ratings, and they tell they are determined to continue the high level of service in future also.