May
23
Iowa Student Loan
Based in West Des Moines, Iowa, the organization employs about 275 employees and manages more than $3.5 billion in student loans. Iowa Student Loan is self-funded and self-capitalized. It is governed by a board of directors that, since its inception, has been appointed by the governor of Iowa. Iowa Student Loan does not have shareholders, nor does it receive state appropriations.
Operating as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code, Iowa Student Loan is subject to strict regulation of its exempt purpose and use of funds. No funds may be used for the private benefit of any officer or director of the company.