Student Financial Aid and Student Financial Success office in 0210 Beardshear Hall, Sept. 5, 2024
At Iowa State University, students ain’t just carting around books and dreams on campus — they’re also lugging around the weight of financial need, and the relief that comes with a little help. For the 2023-24 academic year, ISU students got an average of $10,272 in gift aid, as per data from the Office of Student Financial Aid. This aid, which don’t need to be paid back, includes grants and scholarships from federal, state, institutional, and private sources. It’s a sneaky little support system that holds up student life, not only shaping access to education but also the overall experience.
“I’m using data from the 23-24 aid year, ’cause the 24-25 aid year is still in the works, with the summer semester coming up,” said Chad Olson, director of student financial aid. “Recipients of gift aid are chosen through various processes. Merit awards at Iowa State University are given based on the student’s academic performance in high school or community college. Need-based grants are decided by financial need, shown by the FAFSA, and taking into account other gift aid the student may be getting. Some institutional scholarships are granted after a review by a scholarship selection committee, which might look at academic performance, extracurricular activities, and even personal essays.”
Institutional merit-based scholarships averaged $4,888, while need-based awards averaged $4,277. Federal Pell Grants were given at an average of $5,126 per student, along with additional federal support from the Federal Supplemental Education Opportunity Grant ($316) and Federal Teach Grant ($3,598). Private scholarships averaged $2,466, and state grant programs added $1,993 to the total package. As the 2024-25 aid year starts to shape up, these numbers show the real deal of what helps students stick around, thrive, and hopefully, rise above.
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