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Iowa Families Receive Awards for Educational Expenses

Iowa Nonprofit's Tool to Project Total College Cost Encourages Family Financial Preparation for College

May 10, 2017

Iowa high school students and their families can enter weekly drawings for two $250 awards, and Iowa high school seniors can enter a grand prize drawing for two $1,500 awards by completing a free online tool that helps them estimate the total cost of a four-year undergraduate degree.

Iowa high school students, and their parents or guardians, can enter their information for the drawings after completing the College Funding Forecaster until June 9. This free online tool provided by Iowa Student LoanĀ® uses information from students' freshman year financial aid award packets, as well outside scholarships and grants and family savings and earnings, to project estimated costs, funding gaps and potential student loan debt over four years.

So far, ten entrants have met the requirements to claim weekly awards. Congratulations to the following students, all current high school seniors:

Student NameCity
Kamryn SmithCentral City
Joseph LaboskyCresco
Nathan StelkenDyersville
Kelli DenlingerHoly Cross
Rowan MeyersMason City
Joshua VandenBergMason City
Mya McAlpinNorwalk
Brandt BarnhartRobins
Mallory McQueenSheldon
Dreycen FoilesSibley

"Families may be able to stretch budgets for the first year of college where they didn't receive quite enough aid to cover funding gaps, especially with scholarships and grants," said Chris Hensley, chair of the Iowa Student Loan board. "But with increases in costs and the expiration of one-year awards, it's harder to know the costs for additional years based solely on a financial aid award packet. The College Funding Forecaster really helps families understand total cost and make educated decisions."

The tool allows families to customize both expenses and available funding to adjust results for changes in students' situations over the four years. The results show yearly and total estimated costs of attendance, available funding and projected funding gaps. The tool also provides informational tips on how to reduce costs and potential debt.

After viewing their results, users have the opportunity to enter the drawings. Two names are drawn each week for $250 student awards for educational expenses. In a grand prize drawing, two names will also be drawn to each receive $1,500 for the students' college expenses in fall 2017. The grand prizes will be paid directly to the students' colleges.

For details and complete rules for the giveaway, visit www.IowaStudentLoan.org/Giveaway. To begin the College Funding Forecaster and enter the giveaway, go to www.IowaStudentLoan.org/Forecaster. Questions should be emailed to scholarship@studentloan.org.

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Media Contact

Megan Garrett, Corporate Communications & Media Relations, (515) 273-7145, mgarrett@studentloan.org

Additional Resources

Download the PDF version of this news release.

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