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Frequently Asked Questions about Student Loans

How do I start planning for college?

The best place to start planning for college is with the College Planning Center (CPC). The CPC is a division of Iowa Student Loan Liquidity Corporation, and is available to help you navigate the financial aid process, your college career, and your transition into the business world. Their professional staff has expertise in college financial aid, debt management, and career planning. Below are a few of the services provided by CPC.

CPC can assist you in:
  • Completing the free application for Federal Student Aid (FAFSA), the first step in qualifying for loans, grants, and scholarships
  • Completing college applications for admission
  • Applying for grants and scholarships
CPC also offers:
  • A free email/postcard service to remind high school seniors of important deadlines
  • A variety of brochures ranging from "Helping You Choose a College" to "Keeping You Out of Credit Card Debt."

The services and materials provided by CPC are available to Iowa students free of charge.

For more information, call CPC toll-free at (877) 272-4692, or access their Web site at www.collegeplanning.org.

What is the process to apply for a student loan?

Many types of financial aid require the completion of the FAFSA (Free Application for Federal Student Aid). Some funds are limited and are awarded on a first-come, first-served basis, so it's important that you complete and submit the FAFSA as soon after January 1 as possible for the next academic year.

There are several options for completing the FAFSA:
  • The paper FAFSA is available from high school guidance counselors, financial aid offices, libraries or the College Planning Center.
  • FAFSA on the Web can be found by accessing the College Planning Center's Web site at www.collegeplanning.org. FAFSA on the Web allows you to complete the FAFSA electronically over the Intranet.
  • The Renewal FAFSA is for returning students who want to reapply for federal and state aid. If you are eligible to file a Renewal FAFSA, one will be mailed to you.

A Student Aid Report (SAR) will be sent to you and each college listed on your FAFSA. Colleges use the SAR to calculate your financial aid eligibility.

The colleges listed on your FAFSA will send you an award letter that outlines your financial aid package. Please consult your school's financial aid office for details.

Who do I contact to get information on my student loan?

Iowa Student Loan Liquidity Corp.
Ashford I Building
6805 Vista Drive
West Des Moines, IA 50266
Toll-free telephone number: (800) 243-7552 option 3
Web site: www.studentloan.org

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