ISL launches no-cosigner graduate loans for Iowa health, law and business students

ISL Education Lending has introduced two no-cosigner graduate loan programs to help Iowa students cover funding gaps after federal PLUS loans for new graduate and professional borrowers ended. The nonprofit says the loans are already supporting students at 10 Iowa colleges and universities.

Why it matters: - The end of federal PLUS loans for new graduate and professional student borrowers has made advanced degrees harder to finance. - ISL Education Lending’s new loans are designed to help Iowa students in eligible graduate and professional programs cover tuition and living costs. - The loans can reduce dependence on private lenders, cosigners and income requirements.

What happened: - ISL Education Lending launched the ISL Health Professions Graduate Loan and the ISL Graduate Studies Loan earlier this year. - Both products are no-cosigner loans for full-time graduate students in eligible programs. - Steve McCullough, ISL Education Lending president and CEO, said the nonprofit has already helped students continue graduate-level studies at 10 Iowa colleges and universities. - ISL also posted information for graduate and professional students on its website.

The details: - The ISL Health Professions Graduate Loan covers dentistry, including advanced dentistry, medicine, occupational or physical therapy, speech and language pathology, veterinary medicine, physician assistant programs, pharmacist programs and certain nursing programs. - The health professions loan can be used for college costs and living expenses. - The health professions loan includes a residency period after repayment begins. - Eligible borrowers in residency can make reduced monthly payments for a set period before full principal and interest payments start. - For the 2026–2027 academic year, the deferred repayment APR on the health professions loan is 8.35%. - Borrowing limits depend on the student’s other debt obligations and program. - More information is available at the health professions loan page. - The ISL Graduate Studies Loan is for students pursuing a master’s or doctorate in accounting, business administration or law. - The graduate studies loan can cover tuition, living costs and other expenses not covered by financial aid, federal loans or other sources. - More information is available at the graduate studies loan page.

Between the lines: - ISL is targeting programs where students often cannot earn much income while enrolled and may face extended training after graduation. - The residency repayment feature matches the financial reality of some health profession careers, where income may stay low during post-graduate training. - The launch also broadens ISL’s role beyond standard student lending by pairing graduate loans with financial literacy tools and planning resources.

What’s next: - ISL said students and families can also look at its Partnership Advance Education Loan and College Family Loan if they have creditworthy cosigners or need parent borrowing options. - Applicants can choose when repayment starts on those loans. - ISL Education Lending plans to continue offering borrower benefits, financial literacy tools and community reinvestment programs. - More information about the organization is available at ISL Education Lending.

The bottom line: - ISL’s new graduate loan programs are aimed at filling a funding gap for Iowa students in high-cost professional degrees at a time when federal borrowing options have narrowed.