Company History
2001
Feb. 13, 2001 — ISL Service Corp. is created to perform functions outside of Iowa Student Loan's tax-exempt designation.
April 2, 2001 — iLink begins to work with colleges and universities and lenders throughout Iowa to streamline student loan program data transmission.
2004
July 9, 2004 — ISL Service Corp. enters into a Federal Family Education Loan Program (FFELP) consolidation origination and servicing agreement with CollegeInvest.
2008
July 21, 2008 — Eighteen participating banks sign agreements for the first Iowa Alliance Private Student Loan ProgramSM (Iowa Alliance Loan) to provide loans to Iowa students who are unable to obtain a creditworthy cosigner.
July 28, 2008 — ISL Service Corp. enters into a private loan origination, purchase and servicing agreement with Veridian Credit Union, to be followed by eight other lender programs within the next three years.
2009
May 19, 2009 — Agreements with 18 lenders are signed for the second Iowa Alliance Loan participation pool.
2010
July 12, 2010 — The third participation pool of 14 lenders for Iowa Alliance Loan includes a two-year agreement.
Dec. 1, 2010 — ISL Service Corp. submits a proposal to service federal student loans under the William D. Ford Federal Direct Loan Program (Direct Loan).
2011
May 18, 2011 — ISL Service Corp. signs a memorandum of understanding with the U.S. Department of Education for Direct Loan servicing.
May 31, 2011 — ISL Service Corp. redeems participation interest in the 2008 – 2009 Iowa Alliance Loan pool.
June 16, 2011 — Higher Education Servicing Corporation contracts ISL Service Corp. to service $15 million in rehabilitated student loans.
July 20, 2011 — The board of directors approves the name change to Aspire Resources Inc. to better reflect the company's expanded operations.
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