Paying for College Guide 2022-23

PAYING FOR COLLEGE

INVEST IN YOUR FUTURE

At the University of Iowa, we’re committed to providing a world-class education at an affordable price to ensure our leading programs are accessible to all future Hawkeyes.

After you’ve applied and been accepted to Iowa, you’ll be eligible for a number of financial aid opportunities to help you pay for your education. With so many options available, we know it can be overwhelming. This guide provides an overview of the financial resources available, along with a step-by-step checklist of important deadlines and requirements.

When you invest in your future at Iowa, you invest in a lifetime of opportunities. Access to world-class writing and communication resources, dedicated career advising, countless hands-on learning experiences, and thousands of internship possibilities make Iowa grads stand out.

FILE THE FAFSA

At Iowa, we’re invested in your future and want to help close the gap between financial need and the cost of education. Once you’ve completed the Free Application for Federal Student Aid (FAFSA), you’ll be considered for grants, loans, Work-Study, and need-based scholarships designed to support your Hawkeye journey.

The opening date to submit your FAFSA is Oct. 1, 2022.

Before Filing the FAFSA

To officially join the Hawkeye family, please visit our online application (we also accept the Common App). It’s important to remember that you must apply and be admitted to the university before your FAFSA can be reviewed for awards.

File the FAFSA Early

Beginning Oct. 1, students can file the 2023–2024 FAFSA. It’s important to apply early because some financial aid funds are limited and offered on a first-come, first-served basis. Priority consideration for need-based scholarships and grants offered by the Office of Student Financial Aid will be given to students whose FAFSA is filed on or before Dec. 1, 2022. We recommend you use the IRS Data Retrieval Tool to transfer your tax information directly from the IRS onto your FAFSA.

To make sure we receive your FAFSA information, please list “The University of Iowa” as your institution. Our federal school code is 001892

Verification

The federal government may require the university to verify your information. If you are selected for verification, we will reach out to you directly for documentation. To see any necessary documentation or steps you have left to complete in the filing process, visit the Financial Aid To Do List in MyUI.

TYPES OF AID

Grants

Grants are offered based on financial need demonstrated on your FAFSA and are provided by the federal or state government, the University of Iowa, or private sources. Grants do not need to be paid back.

Need-Based Grants and Scholarships

Need-based grants and scholarships are offered based on your cost of attendance, expected family contribution as determined by your FAFSA, other financial assistance, and academic criteria. Any financial assistance you receive may affect the amount of your need-based grants and scholarships.

Scholarships

Scholarships recognize academic achievement and other accomplishments. Some may require financial need. You can also pursue scholarships through private donors, foundations, businesses, or other sources.

Federal Direct Subsidized Loan

Subsidized loans are offered based on financial need. No interest will accrue on the loan while you are enrolled in school at least half-time. The U.S. Department of Education will subtract a small loan fee before the loan is disbursed.

Federal Direct Unsubsidized Loan

Unsubsidized loans do not require financial need. Interest will accrue on the loan while you are enrolled in school. The U.S. Department of Education will subtract a small loan fee before the loan is disbursed.

Federal Work-Study

Work-Study is offered based on financial need. This offer allows you to apply for and secure a part-time position that pays bi-weekly.

Student Employment

You can choose to work part time (up to 20 hours/week) either on or off campus to help pay for your costs.

Parent Loans

The Federal Direct Parent PLUS Loan is another option to help pay for your costs. Either parent may complete a PLUS loan request at studentaid.gov starting in April. Parent loans also are available through private lenders. Credit approval is required for a PLUS loan and private loans.

Private Loans

Private student loans are available to help pay for your costs. Most private loans will require a co-signer. If you borrow a private loan, you will be required to complete private loan counseling with a Financial Aid Advisor. Counseling should be done prior to Aug. 1 to avoid delays.

ESTIMATE YOUR COSTS

Don’t let finances

estimated costs

academic

BILLED EXPENSES

Tuition and fees*

and

OTHER ESTIMATED EXPENSES

Books and supplies

expenses

estimated expenses

and your degree. To help you

first-year expenses,

a look

what Iowa students are paying

The tuition/fees and books/supplies figures provided represent costs for undergraduate students enrolled full time (12 or more hours each semester).

*Tuition and fees vary for students in business, engineering, nursing, pharmacy, and undergraduate programs in medicine. All tuition and fees listed include a one-time University Records and Documents Fee of $225 for new students.

Business nonresident students pay $34,538; third- and fourth-year business nonresident students pay $36,538.

Computer Science and Informatics nonresident students pay $32,541; third- and fourth-year computer science and informatics nonresident students pay $33,584.

Engineering nonresident students pay $33,940; second-, third-, and fourth-year engineering nonresident students pay $36,106. Medicine undergraduate nonresident students pay $32,332. Nursing nonresident students pay $35,989.

Pharmacy nonresident students pay $39,493.

**This cost is estimated and will vary depending on room and meal plan selection.

tuition and fee information: registrar.uiowa.edu/tuition-fees

USE OUR NET PRICE CALCULATOR

Other Resources to Help Pay for College

Student Employment or Work-Study

Want to be paid and develop relevant, practical skills at the same time? Students can take advantage of an on-campus job or a Work-Study position, a limited-fund financial aid program that pays you to work for an employer in your field (Work-Study is not required for campus employment). Visit the Handshake website (careers.uiowa.edu/handshake) to browse current job listings that align with your area of study or fields of interest.

UI Deferred Payment Plan

You can choose to pay your university bill in full or take advantage of the interest-free deferred payment plan, allowing you to pay your bill in three monthly installments each semester (a $20 deferred payment fee is charged when choosing this payment plan).

OF STUDENTS RECEIVE SOME FORM OF FINANCIAL AID

IN SCHOLARSHIPS AND GRANTS

APPLY FOR SCHOLARSHIPS

Arrow-Right ADMISSIONS.UIOWA.EDU/FINANCES/SCHOLARSHIPS

Merit-Based Scholarships

Students who apply to Iowa will be automatically considered for merit-based scholarships. To be eligible, you must submit a completed application by March 1, 2023, submit test scores administered through February 2023, and a 7th semester (or 2nd trimester) gradepoint average (GPA). The university will award scholarships beginning Oct. 1, 2022, and continue on a rolling basis every two weeks. If a student meets requirements for multiple merit-based awards, they will be awarded the scholarship with the highest value.

National Scholars Award—$2,000–$12,000 a year for up to four years

• Nonresident undergraduate first-year students who submit a complete application by March 1 are automatically considered for the National Scholars Award. Scholarship awarding and amounts are based on outstanding academic merit (standardized test scores and GPA) and exceptional promise at the University of Iowa.

• Requirements: Award amount is carefully considered based on merit (standardized test scores and GPA).

• Renewal: Up to four years or until you receive your bachelor’s degree (whichever comes first). You must maintain continuous full-time enrollment at Iowa (fall and spring terms), a minimum 2.75 cumulative Iowa GPA, and continue to pay nonresident tuition. Renewal reviews are done at the end of each semester.

Advantage Iowa Award—$2,000–$8,000 a year for up to four years (amount may increase based on merit and demonstrated financial need)

• Requirements: Award is based on merit. Contributing criteria also include students who are from historically underrepresented populations (Alaskan Native, American Indian/Native American, Black/African American, Hispanic/Latinx, Native Hawaiian or other Pacific Islander, two or more underrepresented races) at Iowa OR participating in a federally funded Upward Bound program.

• Renewal: Up to four years or until you receive your bachelor’s degree (whichever comes first). You must maintain continuous full-time enrollment at the University of Iowa, maintain a 2.00 minimum UI GPA, and meet all additional requirements for renewal (admissions.uiowa.edu/ai). Renewal reviews are done at the end of each semester.

Provost Scholarship—$3,000 a year for up to four years

• Requirements: For National Merit finalists who designate the University of Iowa as their first-choice institution. For National Recognition Program Scholars (African American or Black, Hispanic American or Latinx, Indigenous) who enroll at Iowa.

• Renewal: Up to four years or until you receive your bachelor’s degree (whichever comes first). You must maintain continuous full-time enrollment at the University of Iowa (fall and spring terms) and meet the scholarship’s standards for renewal. National Merit Scholars must meet the National Merit Corporation standards for renewal. National Recognition Program Scholars must maintain a 3.00 cumulative UI GPA. Renewal reviews are done at the end of each semester.

Recognizing hard work is what Hawkeyes do best. Iowa offers a variety of scholarships to outstanding undergraduate students based on their financial need, academic merit, or both.

Iowa Need-Based Academic Award—amount varies based on financial need and funding level

• Requirements: 29 ACT (SAT 1330) and any GPA, OR 26 ACT (SAT 1230) and a 3.60 GPA on a 4.00 scale.

You will not be eligible if you have previously earned a bachelor’s degree.

• Renewal: Up to four years or until you receive a bachelor’s degree (whichever comes first). You must maintain continuous full-time enrollment at the University of Iowa (fall and spring terms) and a 2.75 cumulative UI GPA. You must also demonstrate financial need by filing the FAFSA by Dec. 1. Changes in financial need may affect this award.

Iowa Scholarship Portal

The Iowa Scholarship Portal allows students to easily search for scholarships and apply for additional financial opportunities throughout their time at Iowa. Many scholarships within the portal are offered by Iowa’s colleges and departments on campus. Eligibility for these scholarships will depend on various factors such as a student’s academic history, chosen program of study, financial need, hometown/school, etc.

Other Sources of Scholarships

Students are encouraged to explore other scholarship opportunities from local, regional, and national agencies. A great way to investigate outside funding is by searching for scholarships online. You may also want to consider contacting businesses, civic and fraternal organizations, parents’ employers, churches, high school guidance offices, and public libraries that offer scholarship opportunities for students.

GRANTS

Looking for need-based financial aid that you don’t need to repay? You may be eligible for federal, state, and private grants that are automatically awarded based on students’ financial need.

Federal Pell Grant—For students pursuing their first undergraduate degree who qualify based on the Expected Family Contribution (EFC) from the FAFSA. For the 2022–2023 academic year, grants ranged from $692 to $6,895.

Federal Supplemental Educational Opportunity Grant (SEOG)—For students pursuing their first undergraduate degree who demonstrate exceptional financial need. Grants range from $200 to $1,000 and are limited to eight semesters. Funds are limited and are awarded on a first-come, first-served basis. You should file your FAFSA as soon as possible after Oct. 1 for consideration.

AID CHECKLIST

for admission (admissions.uiowa.edu/apply

you’ve been offered any merit-based scholarships, you will be notified shortly after you receive your admission letter

you’ve already been admitted, please accept our offer of admission by paying the $325 acceptance fee through your Admissions Profile on MyUI (myui.uiowa.edu

October 1

your 2023–2024

Application for Federal Student Aid (FAFSA) at studentaid.gov

Students may file their FAFSA beginning Oct. 1 and are encouraged to submit by Dec.1. Some financial aid is limited and offered on a first-come, first-served basis.

1

filing deadline to receive maximum aid consideration. Although you can file your FAFSA after this date, funding for some programs may run out.

financial aid offer will be sent. The offer provides a breakdown of your first-year finances, including estimated costs and financial aid.

communication on accessing your financial aid offer in MyUI. This process will continue through July.

March 1

1

for students to apply for admission to be considered for merit scholarships.

to submit updated transcript and/or official test scores (if you have them) for scholarship reconsideration (prior to a student’s admission session). Changes to GPA in the final grading period (8th semester) will only be used for admission purposes.

May 1

for all admitted students to accept admission by paying the acceptance fee. Students who don’t meet the deadline will not be eligible for scholarships, and any previously awarded scholarships will be canceled.

your Financial Aid To Do List on MyUI to finalize any loans.

1

first U-Bill will be posted on MyUI. Payment is due by Aug. 28 and can be paid online through MyUI.

of Student

Iowa

ASK QUESTIONS at admissions@uiowa.edu or call 319-335-3847 .

COMPLETE THE FAFSA at studentaid.gov as soon as possible after Oct. 1.

A VISIT at admissions.uiowa.edu/visit or call 319-335-1566.

APPLY NOW at admissions.uiowa.edu/apply .

The University of Iowa prohibits discrimination in employment, educational programs, and activities on the basis of race, creed, color, religion, national origin, age, sex, pregnancy (including childbirth and related conditions), disability, genetic information, status as a U.S. veteran, service in the U.S. military, sexual orientation, gender identity, or associational preferences. The university also affirms its commitment to providing equal opportunities and equal access to university facilities. For additional information on nondiscrimination policies, contact the Director, Office of Institutional Equity, the University of Iowa, 202 Jessup Hall, Iowa City, IA 52242-1316, 319-335-0705, oie-ui@uiowa.edu. W006143—N—09/22