Since 2012, Iowa has been under .500 each season at home ATS. You have to go back to 2011 when they were 4-3 ATS to have a winning record.
Penn State was 4-0-1 ATS in road games back in 2012 and then 3 years of sanctions happened. Flash forward to 2016 and they were 4-1 ATS on the road. Translation: they are strong cover candidates with a full roster.
The night game element swings in Iowa's favor, but the opponent coming to town (#4 ranked) swings that back. PSU is playing first road game of season - might be a slow start. I don't see Iowa putting up the points here to cover once PSU starts to score in the 2nd quarter and beyond.
Give me PSU -13.5 and the UNDER in this one.