Hunter
02/16/23
The State Board of Regents says that federal financial aid dollars dropped for the fifth straight year.
The announcement was part of the Regent’s annual financial aid report to be released next week.
The Daily Iowan reports that the total awarded aid dropped from $503.4 million in 2020-21 to $484.3 million in 2021-22. According to the report, federal aid has been steadily dropping since 2010-11.
The report brought some good news as well.
The total amount of financial aid awarded by institutions and the government increased slightly at all Iowa public universities, going from $1.05 billion to $1.06 billion last school year.
The University of Iowa received $118 million in institutional funding, an increase of $7 million from last year. Institutional grants and scholarships for undergraduate students rose by 4 percent.
The regents distributed $22.4 million of the federal COVID-19 relief dollars to the UI, the last of the money from the Coronavirus Aid, Relief and Economic Security Act released in 2020.
The DI says the full report will be presented on Feb. 22 at the regents meeting.