Helping Students - Student Support Climbs over $200 million

Freshman pre-business major Jamison Arends is one of the 4,200 Iowa State students who received scholarships through private support this fiscal year.

With almost daily bad news on the economic front, there’s a bit of good news for current and future Iowa State University students.

That good news is an increase in student scholarships on campus as a result of Campaign Iowa State: With Pride and Purpose. Benefactors have made gifts and future commitments totaling over $200 million to the Iowa State University Foundation for student scholarship support during the campaign.

More than 550 additional scholarships have been created for Iowa State undergraduate and graduate students since the fundraising effort started on July 1, 2003. Last fiscal year alone, nearly 4,200 students received scholarships through private support.

It’s an area of increased importance in recent years as federal and state funding for student financial aid has decreased.

"Private support for student scholarships is critically important to this university, our students and the state of Iowa. That’s particularly true as Iowa State students face additional challenges with the uncertain economic conditions that our state and nation are currently experiencing," said Gregory L. Geoffroy, Iowa State president. "We’re grateful to our alumni and friends, corporations, foundations, and many organizations that have contributed to our scholarship funds during Campaign Iowa State."

The cost of attendance for Iowa State students rose over 70 percent in a 10 year period from 1997-98 to 2006-07. This cost includes tuition and fees; room and board; and other costs such as books and transportation. Additional costs incurred by students also include study abroad programs and extended programs of study such as double majors. During the same time period, the median Iowa household increased by just over nine percent.

As a result, more than 70 percent of Iowa State students graduate with debt. Over the same 10 year period, the average debt load of Iowa State undergraduates increased 57 percent to just under $30,000.

The new student scholarship gifts were made during Campaign Iowa State: With Pride and Purpose, the university’s $800 million fundraising effort. More than $660 million in gifts and future commitments for facilities and student, faculty and programmatic support have been made to Campaign Iowa State. The goal for student support in the campaign is $235 million.

"The scholarships I have received at Iowa State have enabled me to concentrate solely on my academic career," said Carol Bennett, a junior double majoring in management and psychology. The Ottumwa native is the recipient of a Roy J. Carver Scholarship.

Scholarships have been created in virtually every academic department on campus. Some highlights include:

• The Hixson Opportunity Awards Program received an additional $7 million gift from the Lied Foundation Trust of Las Vegas, Nev., through its trustee, native Iowan Christina Hixson. The need-based scholarship program was established in 1995 to help students with the ability and desire to pursue a college degree but who face significant hurdles because of personal and financial hardships.
• The student leadership of the Engineering Career Expo has given $100,000 in profits from the fair to create the Engineering Student Leadership Development Scholarship. This endowed scholarship will be given to students enrolled in or admitted to the College of Engineering, who are or have been in a leadership position in a recognized student activity.
• The AEGON Transamerica Foundation, Cedar Rapids, established a $100,000 endowed scholarship for finance and accounting students. The scholarships are awarded annually to four College of Business sophomores or juniors majoring in finance or accounting, or enrolled in the Master of Accounting program.

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