Home » Financial Aid » Student Loans » Indiana Student Loans

Indiana Student Loans

Whether you live in Indiana or some other state, you may not be aware of all the opportunities available to you for assistance in financing your higher education. Most states have guaranty agencies that are sanctioned by the state government to provision funding for college loans, many of which are in relation to federal loan options.

In Indiana, student loans of this kind are sanctioned by the state government through the Indiana Secondary Market for Education Loans as the guarantor. It is this agency's responsibility to see that students receive the most affordable and accessible funding for college by partnering with competitive lending agencies and services such as the American Education Services (who handles FFELP loan for the state of Indiana). Aside from sanctioning funding, ISM also offers tools, calculators, online applications, and a number of other services for college bound students and their parents.

Of course, as a government sanctioned entity, ISM is able to extend Stafford and PLUS Loans, as well. However, the institution goes much farther than this in the quest to help satisfy Indiana student loan needs. As a not-for-profit institute, ISM can offer incentives such as reduction or removal of origination fees and interest rate cuts for consistent on time payment or automatic withdrawal payments for federal loans.

The Indiana Secondary Market for Education Loans also partners with the American Education Services to create affordable state funding programs that make alternative loans available to students in the state when federal funding isn't enough. For example, the Upromise program is available to residents of Indiana, in which participants actually earn credit toward their loan repayment by making purchases that are covered by the program. AES also offers a plethora of information on various available state and federal loan programs, repayment period requirements, interest rates available, and the entire process of planning out your college educational path.

If you've finished your studies and find yourself with a number of federal, state, and private loans to keep up with, Indiana student loans through AES can also assist you with consolidation, which will lump all of your loans into one manageable, low interest payment every month, saving your money and improving your credit situation.

Paying for school is not easy, but we are here to help. OEDb's student finance section will help you find the money you need to pay your tuition and other college expenses. We cover scholarships, college grants, and student loans. Scholarships and grants are both forms of "free money", meaning they don't need to be paid back. Scholarships are typically awarded by businesses or individuals, with the money being earmarked specifically for tuition. They can be awarded based on a student's location or by religious affiliation, such as Catholicism or Islam. Grants are typically awarded by governments or non-profit organizations and the money often can be applied to several different expenses a student may incur, not solely tuition. They can be awarded based on location or ethnicity, for instance African American or Hispanic. Loans are not considered "free money", because unlike scholarships and grants, they do need to be paid back after graduation. Common federal loans include Perkins and Stafford. Loans are also available by location.