Student Loans

Midwest Heritage has partnered with Iowa Student Loan to offer three supplemental private student loan programs*.

  • The Partnership Advance Education Loan (Partnership Loan) can help you pay for college while you’re in school.
  • The College Family Loan is for parents, family members and others who wish to borrow on behalf of a student. The student is neither the borrower nor consignor but loan proceeds are sent to the college for the benefit of the student.
  • The Reset Refinance Loan (Reset Loan) can help you simplify repayment or pay lower interest for existing student loans after you finish college.

The Partnership Loan:

This loan is designed to supplement--not replace--other sources to fill funding gaps for students and parents. Students and parents should work with financial aid professionals at their respective colleges and universities to explore and exhaust all sources of student financial aid before seeking a Partnership Loan

  • Provides terms and conditions upfront, so you know what you’re getting before you apply.
  • Features variable and fixed interest rates.
  • Lets you begin making principal and interest, make interest-only payments or defer payments while you attend school.
  • Offers benefits such as an interest rate reduction and cosigner release.

The College Family Loan:

Receive a loan with a lower annual percentage rate than what is calculated for a Federal PLUS Loan
Choose when to begin repayment
Take advantage of an interest rate reduction by having principal and interest payments automatically withdrawn

The Reset Loan:

The Reset Loan lets you refinance or combine existing student loans into one new loan. This may help you if you have student loans with higher interest rates or are making payments to a number of different servicers.

Competitive fixed interest rates.
Three different repayment terms.
An interest rate reduction benefit.

Tools and Tips to Help Minimize Borrowing

Take advantage of these smart borrowing resources

  • Student Loan Game Plan helps you learn how you can reduce the amount you may need to borrow for college.
  • Return on College Investment lets you explore jobs and earnings for graduates of specific majors.
  • College Funding Forecaster allows you to estimate college costs for four years based on your freshman financial aid award letter.
  • Student Loan Coach, Iowa Student Loan’s blog, provides tips on how to prepare, plan for and finance college.

Tips

Complete the FAFSA first. The first step in applying for financial aid, which includes federal student loans, is completing the Free Application for Federal Student Aid (FAFSA).
Work with our college financial aid office to explore and exhaust all sources of student financial aid before seeking a private student loan.

About Iowa Student Loan

Iowa Student Loan was established in 1979 as a private, nonprofit corporation, and its mission is to help Iowa students and families obtain the resources necessary to succeed in postsecondary education.

*Midwest Heritage is compensated by Iowa Student Loan for the referral of Partnership and Reset Loan customers.