About Iowa Student Loan
Iowa Student Loan was established in 1979 as a private, nonprofit corporation, and its mission is to help Iowa students and families obtain the resources necessary to succeed in postsecondary education. Iowa Student Loan has helped more than 375,000 students pay for college.
Based in West Des Moines, Iowa, the organization employs more than 345 employees and manages $2.8 billion in student loans. Iowa Student Loan is self-funded and self-capitalized. It is governed by a board of directors that, since its inception, has been appointed by the governor of Iowa. Iowa Student Loan does not have shareholders, nor does it receive state appropriations.
Operating as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code, Iowa Student Loan is subject to strict regulation of its exempt purpose and use of funds. No funds may be used for the private benefit of any officer or director of the company.
About Aspire Resources Inc.
Iowa Student Loan's Wholly Owned Subsidiary
Aspire Resources Inc. was created as ISL Service Corp. in 2001 as a wholly owned, for-profit subsidiary of Iowa Student Loan to perform functions in addition to Iowa Student Loan's tax-exempt designation. The Aspire name reflects that its customers (students, schools and lenders) aspire to succeed and that the company aspires to provide exceptional customer service to help them reach their goals.
Aspire performs student loan customer service functions for borrowers throughout the United States in the William D. Ford Federal Direct Loan (Direct Loan) Program. These functions complement Iowa Student Loan's programs serving Iowa students and families. In addition, as a member of Iowa Student Loan's corporate family, Aspire works with students, postsecondary educational institutions and lenders to provide private loan servicing and to facilitate loan data transfers through its iLink service.
The Aspire board of directors is appointed annually by the Iowa Student Loan board of directors, and Iowa Student Loan is the parent company and sole owner of Aspire. All revenues beyond operating expenses and reserves are returned to Iowa Student Loan to fulfill its nonprofit purpose of helping Iowa students and families.
Visit www.AspireResourcesInc.com to learn more about Aspire.