Iowa Student Loan Company Overview

Iowa Student Loan is a private, nonprofit corporation whose mission since 1979 has been to help students and parents obtain the financial resources necessary for a postsecondary education. To date, Iowa Student Loan has helped more than 260,000 students pay for college.

Based in West Des Moines, Iowa, with over 370 employees, Iowa Student Loan is a significant Iowa financial services company, with $3.7 billion in student loans. Iowa Student Loan is self-funded and self-capitalized; it has no shareholders and does not receive state appropriations.

Iowa Student Loan is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code and 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.

Iowa Student Loan has a positive economic impact in Iowa. Based on a 2007 Economic Impact Study, the company’s business activity on an annual basis resulted in the following:

• Generates more than 2,400 Iowa jobs.
• Stimulates an additional $237 million in annual consumer spending.
• Increases personal income for Iowa residents by about $72 million.
• Boosts Iowa’s goods and services production by about $134 million.
• Causes the state’s income and sales tax collections to grow by about $2.3 million.

Iowa Student Loan is highly regulated and rigorously audited by state and federal governments. In its governance, it is accountable to a publicly-appointed Board of Directors of educational, banking and public interest representation. This provides extensive levels of oversight, checks and balances that ensure the company adheres to its mission and meets its obligations.