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Iowa Student Loan

Military Service Benefits

Iowa Student Loan recognizes and appreciates the sacrifices made by members of the military and their families.

Interest Rate Reduction

You may be eligible to have interest:

  • Reduced to 0.00% for up to 24 months on your private student loans through the Iowa Student Loan Armed Forces Interest Reduction Program if you meet all the following requirements:
    • You were deployed under Title 10 between Sept. 11, 2001, and June 30, 2015.
    • While on federal active duty, you have a non-defaulted private loan owned by Iowa Student Loan during the period of eligibility.

    Note: Iowa Student Loan is required to issue a 1099-C form to the IRS and the borrower reporting a reduction of indebtedness of $600 or more. Consult your tax adviser regarding any tax consequences resulting from an interest reduction.

  • Limited to 6.00% on your federal or private student loans under the Servicemembers Civil Relief Act.

Postpone Payment

You may qualify for a military service deferment or a post-active duty student deferment if you meet eligibility requirements.

Apply Now

Contact Iowa Student Loan to learn more. You may log in to your online account to send a secure email to submit your request or ask that a representative contact you at the time and number you provide.

You may also download and complete application forms below and email, mail or fax them with your required documentation. You or an authorized representative (see below) may need to provide a copy of your military orders in addition to any other required documents.

Program How to Apply
Iowa Student Loan Armed Forces Interest Reduction Program Call Iowa Student Loan at (800) 243-7552.
Interest Reduction through the Servicemembers Civil Relief Act Complete, sign and return a Servicemembers Civil Relief Act Interest Rate Limitation Request (PDF).
Military Deferment or Post-Active Duty Student Deferment Complete, sign and return a military service/post-active duty deferment form (PDF).

Account Authorization

You may allow another person access to your account while you are on active duty or away from home.

If You Are... Then...
A service member who wants to allow another person access to your account Fill out and submit a Third-Party Authorization Form (PDF).
A service member who wants to allow another person to make decisions about and changes to your account Provide Power of Attorney and submit documentation, with your name and account number.
A family member or friend who wants to apply for military deferment on a service member's behalf Submit a completed deferment form and required supporting documentation to Iowa Student Loan. Contact Iowa Student Loan for assistance.
A family member or friend who wants to apply for SCRA benefits on a service member's behalf Obtain Power of Attorney from the service member and provide a copy of this to Iowa Student Loan with the SCRA request form.

Additional Resources

For more information:

Iowa Student Loan helps students and families obtain the resources necessary to succeed in postsecondary education.
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