Institutional Loans

If a student is eligible for either of these institutional loan programs it would be reflected on your financial assistance award letter. 

Mabel E. Sherman Loan:  The interest rate for the Mabel E. Sherman loan is 7%. 
Interest will accrue one (1) year after you leave school or are enrolled less than half time. 
Repayment shall not exceed 10 years.  Recipients of this loan must be Iowa residents.

McElroy Loan:  The interest rate for the McElroy loan is 8%.  Interest will accrue
six (6) months after you leave school or are enrolled less than half time. 
Repayment shall not exceed 10 years.

Loan Calculators
Interested in  learning more about how different financial choices can affect your monthly payments and budget?  Use the Loan Repayment Calculator to estimate how much the monthly payments will be when it's time for you to pay back.