$4,678

Avg. Federal Grant

$5,309

Avg. Federal Loan

$162,851,585

Total Aid Awarded

Iowa State University (ISU) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

71%

Total Aid Amount Average Total Aid Awarded per year.

$162.852M

Financial Aid Official Website

www.financialaid.iastate.edu/

Iowa State University’s (ISU) office of admission and financial aid understands that students are starting on one of the most essential and inspiring journeys of life. They also know how stressful that journey can become when it comes to filling out all the necessary paperwork and worrying about how you are going to pay for it. Financial aid and scholarships play a crucial role in making this journey a convenient one. The university is accredited by The Higher Learning Commission. With this accreditation, the university is able to offer various scholarships, grants and other financial aids that help students financially, provided that they show academic excellence. Out of all the students who apply through FAFSA, 71% of the students are awarded financial aid, with the total aid received rounding up to an amount of $162,851,585.

Scholarships

  • International Student Admissions Scholarship: International first-year students will offer a limited number of merit scholarships. Selection is based on SAT or ACT scores and high school marks/grades. There isn't a separate application for scholarship consideration. Iowa State University awards $2,000-$10,000.

  • Iowa Resident National Merit Full Tuition Scholarship: This scholarship is particularly for the students who are national merit scholars who achieved a cumulative GPA of 3.00. Students must register as full-timers in the university to be eligible.

  • Iowa State Community College Transfer Scholarships: In this scholarship, the entitled student must be required to have a minimum cumulative GPA of 3.0 on a scale of 4.0, and the student must have completed 45 credits, which are transferable in nature from the previous university student attended. This scholarship is inclined towards the transferred students who are advanced for admission at Iowa State University, who exhibit significant financial need and registered solely for the fall semester.

  • Return to Iowa-Generation Scholarship: This is a very unique scholarship where students need to fulfill the application form where students need to specify the history of parents, grandparents, etc who attended or graduated from Iowa State University. This scholarship is awarded to the transfer students who are non-resident of Iowa. This scholarship offers $1,500 which is viable for 3 academic years.

For more information regarding other scholarships, you may contact their representatives through their website.

Grants

The students applying for or studying at Iowa State University are eligible for different kinds of Federal Grants. Federal calculation bases the amount of the award on the EFC, the cost of attendance, enrollment status (full-time or part-time), and the number of semesters attended in the academic year. 

The different kinds of grants awarded are:

Institutional Grant

  • Iowa State University (ISU) Grant: In this grant, the student may expect variation in the amount received because it is subjected to the availability of the fund. This grant was offered to the student who exhibited the essential financial need and granted if the student meets all the necessary eligibility requirements set by the office of financial assistance of Iowa State University.

  • Education and Training Voucher: This is the institutional grant, which offers the amount to cover college-related expenses, and students in this grant do not receive any amount because the whole amount is sent to the university. This ETV program is exclusively for the adopted students who are adopted after the age of 16. This grant provides the amount of $5,000 every academic year to cover all the college expenses.

Federal Grant

  • Pell Grant: Pell grant is offered to the students who did not yet receive their first bachelor’s degree. This grant encourages the student to partake-in the university. Students must demonstrate the financial need required by them to avail of the benefit of the Pell grant. The eligibility criterion is set by filling up the FAFSA form.

  • Federal SEOG: FSEOG grant is offered to the students who are awarded a pell grant, FSEOG works as a supplemental grant or additional grant which supports the pell grant if the student shows a major financial need. The eligibility of this grant is determined by fulfilling the FAFSA form and the student with the lowest EFC is preferred for this grant.

  • TEACH Grant: This grant offers the amount approximately up to $3,500 whereas the disadvantage of this grant is it can be converted into the federal direct unsubsidized loan if the student fails to maintain the minimum requirement set by the federal aid office where the student must require a minimum GPA of 3.25 or have a percentage above 75% in any of the undergraduate programs. This grant is entitled to that student who is seeking their first master’s and bachelor’s degree and they are willing to work and teach in the scarce area. 

For more information regarding other scholarships, you may contact their representatives through their website.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

19%

State Grant Aid

N/A

Institution Grant Aid

78%

Pell Grant

19%

Average Aid Awarded

Federal Grant Aid

$4,678

State Grant Aid

$3,444

Institution Grant Aid

$7,005

Pell Grant

$4,445

Financial aid is a form of funding that helps you pay for college programs, such as grants, loans, scholarships, or work-study programs. While gathering knowledge about the different financial aids that a college can offer is one of the important things to do. One of the essential things is to notice how financial aid is broken down and how much aid given to what number of students in an academic year.  As per our reports:

  • 71% of students earn grants, an average of approximately $162,851,585.

  • Approximately 19% of students receive Federal Grant Funding, which amounts to an average of $4,678.

  • 19% of students receive Pell Grants, which amounts to an average of about $4,445.Approximately students receive state grants at an average of about $3,444.

  • 78% of students received the institutional grant at an average of about $7,005.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$10,675

$30,001 - $48,000

$10,057

$48,001 - $75,000

$6,568

$75,001 - $110,000

$3,578

Over $110,000

$1,990

The student’s FAFSA application determines how much they are required to contribute to the college tuition each year, how much financial assistance they are eligible for, and how it gives the students a clear understanding of what to expect from each type of assistance they receive.

The average federal assistance received for a student with a family income ranging from $0 to $30,000 is $10,675, while a student with a family income ranging from $ 30,001 to $48,000 is $10,057. The student has a family income ranging from $48,001 to $75,000; the average federal aid received by them is $6,568. In contrast, the student with an annual income ranging from $75,001 to $110,000 the average federal aid is around $3578 is given, which decreases sharply by the previous income range group. The student has an annual income level of over $110,000; the average amount of federal aid provided is $1,990.

Student Loans for Iowa State University (ISU)

Average Loan Amount Average Loan Amount received per year.

$7,431/Year

Students Taking Out Loans

50%

Loan Default Rate

3.2%

Other Colleges In Iowa

Coe College
Coe College

Cedar Rapids, Iowa

Drake University
Drake University

Des Moines, Iowa

Other Colleges In Ames

PCI Academy
PCI Academy

Ames, Iowa

Other Public Colleges