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 Calculator
Interested in calculating what your monthly payments will be on your student loans?  This Loan Payment Calculator computes an estimate of the size of your monthly loan payments and the annual salary required to manage them without too much financial difficulty. This loan calculator can be used with Federal education loans (Stafford, Perkins and PLUS) and most private student loans. (This student loan calculator can also be used as an auto loan calculator or to calculate your mortgage payments.)