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State Fair Kicks Off Iowa Student Loan Giveaway

Parent Drawing Provides College Savings Accounts, Scholarship Program Helps Students Pay for College

Aug. 6, 2015

Students and families visiting the Iowa State Fair will be able to obtain information about two Iowa Student Loan® programs which help provide funding for college.

In its second year, the Save Now, Save Later: College Savings Plan Parent Giveaway will provide even more individuals with a chance to boost their high school students' college savings plan.

Kicking off opening day of the fair, Aug. 13, Save Now, Save Later offers parents and legal guardians of students in grade nine, 10, 11 or 12 a chance to win a $1,500 College Savings Iowa® account deposit, while learning key financial planning tips for college, and how they can help their future college student in the process. Thirty individual awards will be given out during the program's second year, increased from 20 awards in 2014.

Iowa Student Loan is again working directly with College Savings Iowa, who will have informational handouts about the giveaway, including registration instructions, available at their booth within the Varied Industries Building during the fair. College Savings Iowa is the state's direct-sold 529 program, administered by State Treasurer Michael Fitzgerald.

"(The program) gives you a very realistic understanding of what the cost of college is," said Ron Degen, of West Des Moines, a 2014 winner. "It really drives home the fact that you can't start saving early enough."

Registration runs through Nov. 30 and includes required participation in an online, college financial literacy tool, Student Loan Game PlanSM, offered by Iowa Student Loan. Winners will be randomly selected in December and notified and announced in January 2016.

Also included in the handout provided during the fair will be information on Iowa Student Loan's senior scholarship program, the Iowa Financial Know-How Challenge: Senior Scholarship.

In early 2014, Iowa Student Loan offered the inaugural scholarship program, which was a spinoff of the Iowa Financial Know-How Challenge, intended to help raise awareness of financial literacy concepts among staff and students in Iowa high schools. Iowa Student Loan awarded nearly $100,000 through the school challenge.

Set to launch in November, the Iowa Financial Know-How Challenge: Senior Scholarship has awarded high school seniors with $60,000 in scholarships. This year's scholarship program will incorporate elements from the original school challenge with senior scholarship requirements. Like years prior, the scholarship will require students to register and participate in Iowa Student Loan's two online financial literacy tools to become eligible.

The program will fund 30 seniors each with a $2,000 scholarship. This is an increase of 10 winners and $500 per scholarship over previous years. New in 2015, high schools where the 30 winning students attend will each receive a $500 boost to their financial literacy programs.

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Media Contact

Christopher Weishaar, SNSL Program Administrator, (515) 273-7102, cweishaar@studentloan.org

Additional Resources

Download the PDF version of this news release.
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