Lower-Rate Student Loans for Parent Borrowers
Illinois College Family Loan
The Illinois College Family Loan is a private loan for parents looking to help an undergraduate or graduate student with college costs. It is available to Illinois residents with a college student attending or planning to attend an Illinois not-for-profit college or university.
To qualify, students must also be Illinois residents. The private loan is provided through ISL Education Lending (ISL), a non-profit lending institution based in Iowa with strong borrower protections.
This product is for parents with a credit score of at least 660. Fixed Annual Percentage Rate: 3.45% APR - 6.77% APR.*
Why Choose This Loan?
No fees
Flexible in-school payment options
Fixed APR:
3.70% – 6.77%*
*Borrowers can qualify for a 0.25% interest rate reduction by enrolling in automatic monthly payments lowering the interest rate range to an APR of 3.45% to 6.77%. This auto-pay discount is applied as long as automatic payments are maintained. Note: Not all borrowers receive the lowest rate. If you are approved for a loan, the rate offered will depend on your credit profile and the term you select and will be within the ranges shown above.
Are You an Eligible Borrower?
Eligibility starts with one word: Illinois.
Applicants must be Illinois residents with a child attending an Illinois public or private not-for-profit higher education institution.
Parents must also maintain a credit score of at least 660.
