Year in Review
The 2013 Year in Review (PDF), "Responding to Students' Changing Needs," provides a complete summary of Iowa Student Loan's activities over the past year to fulfill its nonprofit mission of helping students and families obtain the resources necessary to succeed in postsecondary education. This annual report is required by Iowa Code Section 7C.13(2).
Iowa Student Loan continually adapts to meet Iowa students' and families' expressed needs for furthering their education and training. In 2013, Iowans asked for:
- Resources to help avoid high college debt. Iowa Student Loan responded by developing new tools that help college students discover how to maximize their return on college investment, or ROCI. The ROCI Tool and ROCI Reality Check online resources were launched, and the Student Loan Game PlanSM tutorial continued to be promoted to students.
- Financial literacy for school-aged students. In response, Iowa Student Loan worked with its educational organization partners to continue the Iowa Financial Know-How Challenge for Iowa high schools and launched a new scholarship program for Iowa high school seniors. In addition, Iowa Student Loan provided free financial literacy curriculum to middle schools and contributed more than $1.2 million to support free college planning services across the state.
- Financing options to pay for college. Iowa Student Loan maintained its supplemental private loan options with upfront, transparent rates and terms. The nonprofit organization also partnered with Iowa-area banks, credit unions and colleges and universities to create more funding options to meet the specific needs of students.
- Support for workers in critical fields. Iowa Student Loan continued to provide nurse educator and new teacher grants, loan forgiveness and interest rate reductions to Iowans who help fill critical jobs in our state. In 2013, outreach to Iowa's service members was expanded with sponsorship of the Military and Veterans State Conference.
- Assistance for borrowers repaying loans. Iowa Student Loan continued to focus a great deal of time and effort on communicating with borrowers by providing in-school communications, a variety of effective repayment assistance options and career resources. In addition, in 2013, Iowa Student Loan conducted 67 financial literacy presentations at Iowa colleges.
In 2013, Iowa Student Loan also worked hard to maintain and expand the federal student loan servicing work begun in 2012 and the nearly 100 jobs it helped create. Since becoming a federal contractor on behalf of the U.S. Department of Education, Iowa Student Loan has devoted a tremendous amount of resources to ensure that borrowers from across the country receive the same quality customer service Iowans have come to expect from this organization.