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Serving you before, during and after college.
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| If your Federal Stafford Loan ... | Then ... |
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| Is first disbursed on or after July 1, 2009, |
You may qualify for a 0.25% reduction. Lenders partnering with Iowa Student Loan will provide you with 0.25% of the loan balance and apply this amount toward the upfront origination fee (set at 0.50% beginning July 1, 2009). Eligibility RequirementsTo be eligible for this Federal Stafford Loan borrower benefit, you must:
Auto-Debit Benefit In addition, Iowa Student Loan will provide you with a 0.25% interest rate reduction if you pay by auto-debit. The auto-debit privilege is deactivated if three payments are returned for insufficient funds within a 24-month period or if the feature is canceled. Eligibility RequirementsTo be eligible for this Federal Stafford Loan borrower benefit, you must:
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Federal PLUS Loans
If you pay by auto-debit, you may qualify for interest rate reductions on Federal PLUS and Grad PLUS loans serviced by Iowa Student Loan.Iowa Student Loan Interest Rate Reduction
Iowa Student Loan will provide you with a 0.25% interest rate reduction on Federal PLUS and Grad PLUS loans first disbursed on or after July 1, 2009, if you pay by auto-debit.
If the auto-debit feature is canceled or if three payments are returned for insufficient funds within a 24-month period, the rate reduction benefit is lost.
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To be eligible for the Federal PLUS or Federal Grad PLUS loan borrower benefit, you must:
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If your loans were first disbursed before July 1, 2009, please call (800) 243-9201 for information on your specific borrower benefits. |
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