Undergraduate Resident Financial Aid

$7 million

An Iowa State University education is a mix of practical knowledge, critical thinking skills, and high-impact opportunities like research and study abroad. It is an investment that produces an excellent return for Iowa students and the state of Iowa. Our FY20 legislative request of a $7 million increase to our general state appropriation will help more Iowa students access an Iowa State education.

ISU students are graduating at the fastest rate in 20 years, averaging 4.4 years to finish their degree. Last year, we conferred a record 8,356 degrees. Once they leave ISU, more than 94 percent of graduates secure a job in their field or continue their education within six months. Nearly two out of three resident graduates stay in Iowa to become part of the state’s workforce. Financial support for resident undergraduates makes financial sense for Iowa.

Specifically, $7 million in new recurring funds will continue the progress we are making in lowering student debt. In FY17, student debt at ISU decreased by more than 3 percent. The percent of ISU graduates that borrowed dropped to 59 percent – the lowest percentage since records have been collected. ISU continues to be successful in raising private support for scholarships and other aid as part of our Forever True, For Iowa State fundraising campaign. More than $18 million was awarded in scholarship support last year to more than 6,400 students. Still, we can do more.

When comparing states by the percent of need-based aid awarded to students at public institutions, Iowa is last in the country (50th). When compared to our neighbor and peer university states, Iowa has the largest amount of state need-based aid going to private colleges and universities and the lowest going to public universities.