There’s been much recent public discussion about the best way to allocate state funding for our three public universities. If the goal is ensuring Iowa high school graduates can get their college education in Iowa then I strongly support it, but I think there’s an alternative and very efficient way to reach the goal of keeping Iowa students in Iowa. Increase funding for the Iowa Tuition Grant program.
If you’re not familiar with the Iowa Tuition Grant (ITG), here’s a basic description. Students from Iowa who meet the financial need criteria are eligible for a grant, which they can use at any private, nonprofit college or university in the state. The schools have to match the grant with their own financial aid.
I signed the original legislation creating the ITG program on April 30, 1969. The purpose was to provide the broadest opportunities for Iowa students to get a great college education in Iowa. Signing the bill, I knew we’d be expanding Iowa students’ ability to choose from among our excellent Iowa private colleges and universities. I was also confident that this was a great financial opportunity for our state. Here’s why:
-Low cost. The ITG is a small fraction of state spending on education. Iowa spends more than $3.5 billion in state tax money each year supporting education, K-12 and college. Only 1.3 percent of that total, roughly $48 million, supports the ITG.
• Leverage. Private colleges and universities have to match the ITG grants their students receive. Each year, these private schools also generate $450 million in private financial aid for their students. That’s 9 times what the state appropriation is for the ITG program.
• Dollars targeted to need. The ITG is only for students who have financial need. Students have to meet the financial eligibility requirements to qualify, so these dollars are targeted where they are the most acutely needed.
• Accessibility. The combination of the ITG, federal grants and the hundreds of millions in private financial aid make private colleges and universities an affordable option for Iowa students from across the financial spectrum.
• Quality. The ITG provides 15,000 students each year with access to very high quality educational experiences at exceptional Iowa institutions with very high post-graduation placement rates.
Increased funding for the Iowa Tuition Grant program will provide more opportunities for more Iowa students to attend high quality, Iowa colleges and universities. That’s why I signed the ITG into law 45 years ago and why it’s still a great idea today.
Robert D. Ray served as Governor of Iowa from 1969-1983. He also served as President of Drake University in 1998.