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Iowa College Student Aid Commission

These days, the only type of college loans that the Iowa College Student Aid Commission is encouraging are federal student loans.

In 2007, it was revealed that Iowan students were routinely steered towards private loans serviced by Iowa Student Loan, the non-profit agency set up by the state. When studies showed that private student loans increased in Iowa at 5 times the national rate, the plug was pulled on Iowa's alternative loan program.

With the switch to federal Direct student loans, the Iowa College Student Aid Commission has no further role in originating federal loans.

Iowa participates in federal student loan forgiveness programs for nursing and teaching.

There are two programs in which the state partners with Des Moines University (DMU), to give medical students an incentive to practice in Iowa. They are the

Physician’s Recruitment Program

and the

Osteopathic Forgivable Loan Program

These programs include an $80,000 forgivable loan for four years of service in a participating rural Iowa county.

The main (need-based) grant programs in the state are the Iowa Grant for public schools (worth up to $1,000 per year) and the Iowa Tuition Grant for private schools (worth up to $4,000 per year).

There is also the Iowa Vocational-Technical Tuition Grant for two-year, tech schools (up to $1,200 per year).

The application for these grant programs is the FAFSA, so check your Iowa FAFSA deadline each year to make sure you can apply.

The Iowa College Student Aid Commission also oversees a few scholarship programs. These have a merit component in addition to financial need.

All Iowa Opportunity Scholarship (AIOS)- awards tuition equal to one year at the state university ($7,534 for 2011-2012) to students attending there or at a private school. (Students attending community college may reappply for a second year's tuition.) The merit component is graduating from high school with a with a 2.5 GPA. Financial need is established by having an EFC of 7,534 or less.

Governor Terry E. Branstad Iowa State Fair Scholarship- awards $500 to $1,000 for one year to high school graduates who participate in the state fair, have financial need, volunteer in their community, and take part in extracurricular activities. Class rank and GPA account for 10% of the scoring for this award.

Robert D. Blue Scholarship- awards $500 to $1,000 based on GPA, financial need, an essay, andreference letters. A separate application is needed.

If you have a tuition gap and are looking for a private loan lender, check out credit unions offering college loans.

The ICSAC has assumed a strictly informational role regarding student loans. Their site has much information about federal loans- nothing about private loans.

Iowa College Student Aid Commission
Fourth Floor
200 10th Street
Des Moines, IA 50309
Phone: (515) 725-3400
Toll-Free: (800) 383-4222
Toll-Free Restrictions: IA residents only
Fax: (515) 725-3401

More information about topics mentioned above:

Federal student loans

federal Direct student loans

FAFSA