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Scholarship Provides Money for College Along with Valuable Tips

Registered Iowa high school seniors receive emailed tips on planning and paying for college and a chance to earn one of 30 $2,000 college scholarship

Registration opens today for a scholarship that offers Iowa high school seniors a chance to receive one of 30 scholarships worth $2,000 for college while learning important financial literacy skills. In addition, each recipient's high school will receive a corresponding $100 award.

High school seniors may register for the Iowa Financial Know-How Challenge: Senior Scholarship at www.IowaStudentLoan.org/Know-How between now and Feb. 26. Iowa Student Loan® will award $2,000 scholarships to 30 students who complete two online financial literacy tutorials and score highest on a related assessment. Registered students also receive emails highlighting financial literacy tips, such as the importance of early career and college planning and ways to reduce student loan indebtedness.

Laila Kamhawy, a 2019–2020 Senior Scholarship recipient and 2020 graduate of Waukee High School, said, "I'm really grateful to Iowa Student Loan because I learned many different (and surprisingly easy!) ways to save money before and during college."

Another 2019–2020 recipient, Joe Fletcher of Huxley, also found the information he gained from the scholarship process helpful. "The financial guidance Iowa Student Loan provides for students is crucial to success in college and beyond," he said.

After registering for the scholarship, students receive emailed instructions for completing the three required online components. The two tutorials — Student Loan Game Plan® and Return on College Investment — were developed by Iowa Student Loan to help students understand the consequences of college borrowing and discover how to maximize their return on college investment, or ROCI.

A related multiple choice assessment will check students' understanding of the concepts in the tutorials. The 30 high school seniors who score highest on the assessment test will each receive a $2,000 scholarship that will be sent directly to their colleges in fall 2021. If top-scoring students tie, those students may be asked to complete a separate component so that 30 final recipients can be determined.

Each scholarship recipient's high school will also receive a corresponding $100 award to be used toward scholarship and financial literacy programs.

"This year's seniors have had a lot thrown at them," Christine Hensley, Iowa Student Loan board chair, said. "We are committed to continuing programs like the Iowa Financial Know-How Challenge: Senior Scholarship to help college-bound students plan and succeed."

"The tips and resources we provide as part of the scholarship qualification process are really the most valuable aspects of the program," said Steve McCullough, CEO and president of Iowa Student Loan. "Every registered student has an opportunity to gain financially from those resources, even if they are not one of the recipients in the end."

Additional Resources Available

Iowa Student Loan also has additional resources for families planning for college and for students who intend to pursue advanced degrees. The Parent Handbook consists of valuable tips to help families of students in sixth through 12th grades prepare for success in college and other postsecondary options. The Grad Degree Gauge encourages students to make informed decisions about borrowing levels and their ability to repay new student loan debt when considering the pursuit of an advanced degree. Both tools are available free at www.IowaStudentLoan.org/SmartBorrowing.

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Media Contact

Christopher Weishaar, Digital PR Specialist, (515) 273-7102, cweishaar@studentloan.org