Paying for College

A Commitment to Affordability

Iowa’s private colleges are committed to affordability. Even more, each delivers on value, quality and graduation rates that put students in their fields of study faster.

Iowa Private Colleges are Affordable

  • It costs less than you think! Nationwide, average adjusted net tuition and fees at private four-year colleges went down by 12% in the past ten years. That’s why student loan debt is declining too. At Iowa private, non-profit colleges and universities, the number of students graduating with debt has gone down in the last five years and the amount of debt carried is down by an inflation-adjusted 16%!
  • Fewer 5th year students. Nationwide, 84% of students who received a bachelors’ degree from a four-year private college were able to actually complete it in four years, compared to 70% of graduates at state institutions.
  • Graduation rates mean gainful employment. Just as important as their degree, advancing students into the workforce more quickly adds up to better lifetime earning potential.
  • Nationwide, median annual earnings for someone with a bachelor’s degree are 60% higher than for a person with only a high school diploma!

More Ways to Pay for College

  • Private College Aid. More than 90% of Iowa private college students get financial aid from the college itself.
  • Grants. For students who also qualify for federal, state and local grants, the total grant aid (Note: you don’t pay this back) at Iowa’s private colleges can exceed $20,000 per student per year. 
  • Iowa Tuition Grant. Iowa residents who attend an Iowa private college may qualify for the Iowa Tuition Grant which could deliver up to $8,500 of grant money per academic year. Nearly 9,000 students like you qualified last year. Remember the Iowa Tuition Grant is money you don’t have to pay back, it is not a loan. So, don’t leave money on the table. See if you qualify today!
  • Merit Scholarships. Many of Iowa’s private colleges offer scholarships to students based on their academic performance. This is why it pays to maintain strong Grade Point Averages and to stretch and take courses that show you can handle the rigor of challenging coursework and core academic theories. Be sure to finish your high school career strong as well, colleges want to see that you remained focused and attentive right to the end of your high school career. take the time to research Iowa’s private colleges and inquire with their admissions’ departments about these merit scholarships; there may be more money available than you thought.
  • College 529 Plans. The 529 plan, a college savings investment account that is typically operated by a state, is a popular and smart way to invest. Mostly, this option offers a way to grow the investment in a tax-free way and ensure the money is directed to advancing your student’s education.

FAFSA: What you need to know

Each year, students will need to complete a FAFSA to determine their financial aid eligibility. Even if you completed a FAFSA your freshman year, you’ll need to continue applying each year of school, as your family’s financial situation may change. Here is the general application process and what to expect: 

• ONE: Prepare your financial information and your parents’ information as well if you are a dependent

• TWO: Create an FSA ID at fsaid.ed.gov to log into the FAFSA portal and electronically sign your application – if you are a dependent, your parents will need to set up one as well

• THREE: Complete your FAFSA application at fafsa.gov and be sure to notate your top schools

• FOUR: You will receive your Student Aid Report in an email confirming that your form was received and include preliminary information related to your eligibility for federal student aid. It will also include your estimated Student Aid Index (SAI) and estimated eligibility for Federal Pell Grants. FAFSA eligibility information will be provided to schools and states in the first half of March.

• FIVE: A financial aid award letter will be provided by your top schools once your school application has been accepted and FAFSA eligibility information has been provided – this will outline the loans, grants and scholarships available to you from their institution, including the Iowa Tuition Grant.

For more information, visit: https://iowatuitiongrant.org/fafsa