Iowa State University of Science and Technology – Financial Aid Program

Iowa State University was established on March 22, 1858 as Iowa Agricultural College and Model Farm. Story County was selected as a site for this purpose on June 21, 1859 and the original farm of 648 acres was purchased for a cost of $5,379. Abraham Lincoln signed the law that led to the formation of the land-grant universities. Iowa State University was one of the first of these special colleges that were founded on three very unique concepts: Open higher education to all, teach practical classes and share knowledge far beyond the campus borders.

The Farm House was the first building on the Iowa State campus. It was completed in 1861, and in 1862, the Iowa legislature voted to accept the provision of the Morrill Act, which was awarded to the agricultural college in 1864. Iowa Agricultural College was later renamed as Iowa State College of Agricultural and Mechanic Arts in 1898.

The college was started as a co-educational institution from the very beginning and the first official class entered at Ames in 1869. The first class of 24 men and 2 women graduated in 1872. Over its long span of more than a century, ISU has consistently maintained its high quality standards in agriculture, engineering, extension, home economics, and created the nation’s first state veterinary medicine school in 1879.

ISU was officially renamed as Iowa State University of Science & Technology in 1959. The thrust on technical education lead to many research patents and inventions over the years. The first Binary Computer (the ABC) was invented here and constructed here. Apart from this, there are various other articles like Maytag, Blue Cheese, and the Round Hay Baler which have emerged from this prestigious institution.

The university started with a small number of students and today it has reached an approximate number of twenty seven thousand students and over 100 buildings with world class programs in agriculture, technology, science and arts.

Financial Aid in Iowa State University:
Higher education costs are always a case of concern for the parents and the students as well. Some of the deserving students miss out on an opportunity to get a good quality education due to lack of proper financial support and planning.

ISU has a separate grant, aid, loan program which awards monetary help to the deserving and the needy students. The federal grant and aid is available at the school if the student has registered for the FAFSA. It is the first step towards availing federal and state scholarships.

The university also gives loans for a variety of purposes. One can apply for education loan that is a form of financial aid that must be repaid with interest. Then there are the Student Loans which are given to the deserving candidates. These include the Federal Direct Stafford Loan, Federal Health Professions Loan, Federal Perkins Loan and Federal Direct Graduate and Veterinary Medicine PLUS Loan.

ISU also gives Parents Loan in the form of The Federal Direct PLUS Loan that is available for parents of a dependent student to cover educational costs not already covered by the student’s financial aid package.

Apart from all the above mentioned, Private Loans are offered by private lenders with no federal forms to complete. Eligibility for private student loans often depends on the applicant’s credit score.

Thus it can be safely said that Iowa State University is a very special place that has a very rich historical background.