Loans

Financing Your College Education

If you apply for financial aid, you might be offered loans as part of your award. Loans are called “self-help aid” because they are money you borrow and must pay back with interest. You should only borrow what you really need.

You can ask for a smaller loan amount by filling out a Partial Loan Request Form or by contacting the Financial Aid office.

If you choose to take out a loan, make sure you understand who is giving you the loan and the terms and conditions that come with it.

Compare Different Types of Loans

  Federal Direct Subsidized Federal Direct Unsubsidized Parent PLUS Private
Need Based Yes No No No
Credit Based No No Yes Yes
Interest Rate Disbursed 7/1/2025-6/30/2026 6.39% 6.39% 8.94% Determined by lender
Interest Charged While in School No Yes Yes Determined by lender
Origination Fees Disbursed 10/1/2020-9/30/2026 1.057% 1.057% 4.228% Determined by lender
Repayment 6 months after dropping below 6 credit hours or graduation. 6 months after dropping below 6 credit hours or graduation.  Once the loan is disbursed, but may request deferment. Determined by lender
Minimum Enrollment 6 credit hours 6 credit hours 6 credit hours Determined by lender
Eligibility
  • Meet general eligibility requirements for federal and state aid
  • Maintain satisfactory academic progress.
  • Meet general eligibility requirements for federal and state aid
  • Maintain satisfactory academic progress.
  • Parent credit check
  • Student must:
    • Meet general eligibility requirements for federal and state aid
    • Maintain satisfactory academic progress.
 Determined by lender
Maximum Eligibility Period No No No Determined by lender
Application FAFSA FAFSA FAFSA and Parent PLUS application Individual application with lender

Planning for Student Loan Repayment

Repaying your student loans is an important step after college, but you don’t have to figure it out on your own. Understanding your loan types and repayment options can help you stay on track and avoid surprises. If you’re ever unsure about your loan status or payments, reach out early—there are resources and repayment plans available to help make your payments more manageable.

Your Guide to Student Loan Repayment Ascendium Repayment Assistance

Federal Student Aid Helpful Links

Contact Us

Financial Aid

Main Campus
Hawkeye Center 118
319-296-4020
800-670-4769 ext.4020
319-209-9239 (text only)
319-296-4495 (fax)
Email Financial Aid

Schedule an Appointment

Regular Hours — Spring 2026

Monday – Friday 8 AM – 4:30 PM