Iowa student loan liquidity
Iowa Student Loan is a private, non-profit corporation that was established in the year 1979 with a mission of helping students and their parents to obtain the necessary funds for the completion of post secondary education. Iowa Student Loan is located at 6805 Vista DriveWest Des Moines IA. Its contact number is 515-243-5626. Since its formation, Iowa Student Loan has helped more than 260000 in fulfilling financial requirements for the college education. It basically operates as a tax-exempt organization and has been constituted under section 501(c) (3) of IRC or the Internal Revenue Code.
Iowa Student Loan Liquidity Corporation is a Public Charity that has been organize under 501(c) (3) too. It is located at 6805 Vista Drive Asford 1 W Des Moines IA. It provides funds for the purpose of acquisition of student loans. These loans are obtained as per the United States Higher Education Act of 1965. Apart from above, Iowa Student Loan Liquidity Corporation also provides different types of procedures for the servicing of loans obtained under above act. It is also required to file the Internal Revenue Services forms 990 and 990 EZ. All the contributions made by Iowa Student Loan Liquidity Corporation are deductible as per law. If financial data of corporation as on 30th June 2006 is seen, total revenues were $219 126 852 whereas total expenses of the corporation stood at $197072385.
Upromise is one of important programs run by the Iowa Student Loan Liquidity Corporation. It allows student in repaying education loan in a faster way. This program also helps families in saving some amount for the education. All the loan account holders at the corporation are eligible for the program. This program can be joined free of cost. Education loans are repaid by the contributions made by the companies with which a person spends money. Even a person can invite friends and family members in joining Upromise and they can also contribute towards repaying the student loans. This program is considered as one of best ways of managing the educational expenses.
In the month of May 2007, Iowa Student Loan Liquidity Corporation announced that it would not offer any cost reimbursements to schools any more. As per the study conducted, schools also said that they do not plan for any type of cost reimbursements in future as they were apprehensive that students were being influenced by the financial aid staff at school for using its products"> It is important to note here that in the past five years, Iowa Student Loan Liquidity paid $1.5 million to 50 Iowa colleges towards the expenses related to administration of loans to Financial aid offices. Many experts feel that reason behind the behavior of schools in Iowa is related to the investigation made into the student loan industry by the Attorney General of New York. The reader should note that Attorney General had criticized all the arrangements in the nation like Iowa Student Loan Liquidity Corporation.