by our College Data Analytics TeamMost college students will not be charged the full price tag of a school. Instead, they will be offered a financial aid package that includes a combination of loans, grants, scholarships and possibly work-study opportunities.
Curious about the financial aid opportunities at Iowa State and what you may be eligible for? Explore the answers here.
$5,636.00 is the typical Iowa State University’s first year financial aid package. A significant 93% of freshmen benefit from financial aid, with the main type being loans.
Financial aid helps lower the cost, or the full retail price of the institution. But bear in mind that the only true college discount is scholarships & grants.
Uneasy about the debt that may be included in your financial aid plan? Find the average amount of debt per student at Iowa State University.
Financial awards given by a college or university to its students, known as institutional scholarships and grants, help to offset the cost of tuition and other education-related expenses. These awards fall into two categories: merit-based and need-based, and they do not need to be paid back. Merit-based institutional scholarships are granted to students who have shown outstanding academic accomplishments, special talents, or abilities in a particular field. Factors such as high school performance, standardized test results, or involvement in extracurricular activities often contribute to these scholarship decisions. Conversely, need-based institutional grants cater to students who demonstrate financial need. The awarded amount is typically based on the student’s family’s financial standing and is intended to cover the difference between the cost of attendance and the family’s ability to contribute. Colleges and universities might use data from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms to determine a student’s eligibility for need-based grants. Institutional scholarships and grants are a vital source of financial support for students, as they can significantly reduce the cost of attending college and help make higher education more accessible.
The stats below refer to aid that is provided by Iowa State University.
83% of new students (4562 total) were given scholarships at Iowa State University, averaging $6,992.00 per student. This puts it in the top 50th percentile among colleges and universities nationwide.
In addition to scholarships, 30% of first years (1617 total) were awarded federal grant aid, averaging $4,248.00 each.
Amount of Financial Assistance Per Income Level
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 4.91% | $11,974.00 |
| Income 30k-48k | 4.11% | $10,313.00 |
| Income 48k-75k | 6.32% | $7,099.00 |
| Income 75k-110k | 6.68% | $3,934.00 |
| Income 110k + | 9.15% | $2,249.00 |
The table above displays students who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Get more info on Title IV here.
Of the 5476 undergraduate students at Iowa State University around 93% (4700 total) receive some form of grant aid. The typical amount awarded was $5,636.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.