Iowa Student Loans Review
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Iowa Student Loans Reviews

Lauren Le-Hair


Lauren Le-Hair

Student Loans at Competitive Interest Rates
Student Loans at Competitive Interest Rates
About Iowa Student Loans

Iowa Student Loan Education Lending, or ISL Education Lending for short, is a not-for-profit entity that has provided student loans and student loan refinancing since 1979. ISL is known for its non-traditional student loan offerings. For example, family members other than parents can take out a loan on a student’s behalf, and ISL also offers the ability to have more than one co-signer.

Despite the name, ISL student loans are available in 49 of the 50 states of the US, the only exception being Maine. As ISL is a not-for-profit entity, the organization has the ability to offer student loans at competitive interest rates.









Iowa Student Loans Student Loans Review

ISL Education Lending is well-established in the private student loan and student loan refinancing markets, providing these products since 1979. As the organization is a not-for-profit entity, ISL can offer very competitive rates.
Another benefit of obtaining a student loan from ISL is that no fees are charged, including origination fees, application fees, and even late fees. Full details of the products offered are shown in the table below. However, you or a co-signer need a good (or better) credit score to be eligible for a student loan from ISL.

Iowa Student Loans Student Loans Highlights


min $5,000


3.85% - 7.91%


3.03% - 7.69%




10-15 years


10 days











Pros & Cons

  • Student loans at competitive interest rates
  • Multiple co-signers are available
  • No application, prepayment, or late fees charged
  • Long-standing company with an excellent reputation
  • Not many loan products or repayment terms are available
  • High credit score required for eligibility
  • Deferment policies are not documented

Student Loans Type

  • Private student loans
  • Student loan refinance

Iowa Student Loans Refinance Highlights


min $5,000


3.94% - 8.18%

Pros & Cons

  • Student refinance loans at competitive interest rates
  • Multiple co-signers are available
  • No application, prepayment, or late fees charged
  • Long-standing company with an excellent reputation
  • Not many loan products or repayment terms are available
  • High credit score required for eligibility
  • Deferment policies are not documented

Iowa Student Loans Student Loans Terms & Requirements

ISL Education Lending offers private student loans for undergraduate students, graduate students, and parent or family loans. ISL also provides refinancing loans. To be considered for any student loan from ISL Education Lending, you need to meet the following criteria:

  • Be a US citizen or permanent resident
  • Be enrolled at least 50% of the time in a Title IV qualifying school
  • Have a minimum credit score of 670
  • Debt to income ratio of under 40%
  • Must have a verifiable source of income
  • No previous bankruptcies
  • No previous defaults on student loans
  • No accounts currently in arrears

If you don’t qualify for a loan on your own, like many students, you can apply with a co-signer. Your co-signer will also need to meet the criteria set out above.

Partnership Advance Loan

The Partnership Advance loan helps students to bridge the gap between their existing loan and the amount required for their educational needs. You can apply with or without a co-signer, presuming that one of your meets the requirements set out by ISL. Co-signers can be released from their obligations after 24 months of on-time payments.

College Family Loan

The College Family loan is available to family members and not just parents, as is the case with most student support loans. This is not a co-signer loan, with the family member being responsible for repayments.

Student Loan Refinancing

Student loan refinancing can be a great option if you have multiple student loans in place that you want to consolidate into one loan at a lower rate. ISL Education Lending offers student loan refinancing from 3.94%.
The rates offered across all of ISL’s products are very competitive and are certainly worth considering if you require a private student loan or student loan refinancing. This, coupled with ISL’s excellent long-standing reputation, means the organization ranks highly amongst our student loan providers.

How to Apply

We applied for a private student loan with ISL Education Lending because of the competitive interest rates offered and the excellent customer service team based in the US. Starting the process was easy from ISL’s website.

ILS Step 1: student loans
Step 1

Student loan application

After clicking “Apply Now”, we were shown all of the available student loan products, selecting the Undergraduate Loans option. Before starting the process, we verified that we had read and agreed to the Electronic Communications Disclosure.

Clicking this led us to a form where we had to enter our school information, contact information, personal information, financial information, and co-signer details. Most student loan applications split this up into several bitesize chunks, but we appreciated seeing how little information was required to complete the form in full.

After entering all of the required details, we clicked continue and were met with a tool that is unique to ISL. We were asked to complete our “Student Loan Game Plan”, which helps to assess borrowing requirements and loan affordability.

This took us through a detailed series of questions, including degree type and borrowing amount. Then, the site walked us through a comprehensive budget process, including things such as college living arrangements, meal plans, books, transportation, and tuition fees. After completing a full budget, a soft assessment is made as to whether a loan would be affordable for us.


Required Information

To apply for a loan with ISL, you will need to provide the following information:

  • Name
  • Address
  • Social Security Number
  • Date of birth
  • College
  • Degree details
  • Phone number
  • Email address
  • Income details
  • Employer details
  • Co-signer information

State Availability

Available - Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming.

Not Available - Maine.

Privacy & Security

ISL has been in operation as a non-profit since 1979. During that time, the organization has built up a strong reputation over the years for being a reputable lender. There should be no concerns about the trustworthiness of this lender.

In terms of privacy and security, ISL protects your sensitive data at all times, whether you are looking for pre-qualification, submitting an application, or repaying a loan. The highest-quality encryption technology is used to protect all sensitive data.

Customer Support

ISL Education Lending is known for its excellent levels of customer service. Aspire Servicing Center provides ISL’s customer support, which you can reach via multiple channels, including phone, email, regular mail, and social media.

We contacted ISL via email to see how long the organization’s response time would be. After submitting the form, we received a message stating that a reply could take up to two working days, which was longer than expected. However, we received an email back within 3 hours giving a comprehensive answer to the matter we had asked. Three hours is still a longer response time than many competitors, so we would recommend contacting ISL by phone if you need a quick reply.

Phone Support
(855) 811-9849
Mon - Fri
8:00 AM - 4:30PM

In Conclusion

ISL Education Lending offers competitive student loans and refinancing solutions from a well-established, not-for-profit student loan organization. While there are some downsides, like having a limited number of loans available and the requirement of a high credit score, the options for two co-signers and non-parent family-backed student loans are certainly worth investigating if it fits your situation. Ultimately, the products make ISL stand out from its competitors.


Is Iowa Student Loans the same as ISL Education Lending?
Yes, Iowa Student Loans rebranded to ISL Education Lending. There have been no changes made to the products offered.
Are student loans from ISL Education Lending only available to students in Iowa?
No, ISL operates nationwide, and private student loans and student loan refinancing are available to those in 49 states except for Maine. However, if you opt for a no co-signer loan, you do need to be an Iowa resident or attend a school in Iowa.
What loan terms does ISL Education Lending offer?
Private student loans are available for 10 or 15 years, and Refinance Loans are available for 5, 7, 10, 15, or 20 years.

Iowa Student Loans Disclaimer

Subject to credit approval, loans are made by Iowa Student Loan Liquidity Corporation or Bank of Lake Mills. Bank of Lake Mills does not have an ownership interest in Iowa Student Loan Liquidity Corporation. Bank of Lake Mills is not affiliated with the school you attended or are attending. Bank of Lake Mills is a Member of FDIC. Loan servicing, including billing and other customer services, will be provided by Aspire Servicing Center.


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Lauren Le-Hair

As an experienced content writer, Lauren’s passion for the finance sector is only exceeded by her love of writing. Lauren specializes in the financial industry, drawing on her knowledge and experience to deliver top-quality, specialized content with an expert tone of voice and a unique flair. She also holds a First Class (Hons) Batchelor’s degree from Staffordshire University.