Iowa high school seniors still have a few days to register for the Iowa Financial Know-How Challenge: Senior Scholarship program. Registration for the program, which provides free college planning and financing information, plus the chance to earn one of 30 $2,000 scholarships, is open at www.IowaStudentLoan.org/SeniorScholarship until 4 p.m. on Feb. 22.
Students who register online receive instructions to complete two online financial literacy modules about planning and paying for college created by Iowa Student Loan®. Scholarships will be awarded to the 30 seniors who score highest on an assessment related to those tools. In addition, registered students receive emailed tips to further prepare them for college and reduce student loan indebtedness.
“The program is designed to encourage students to really think about the decisions they are making in the next few months and how the financial aspect of those decisions can affect their success in the future,” said Steve McCullough, CEO and president of Iowa Student Loan. “We hope students will even start to lead the family discussion on these topics.”
One parent has been impressed with the information her student learned and retained through participation in the scholarship. “I was especially impressed with her comparing her old beliefs/myths versus the factual information you provided. It truly is fantastic to have this type of conversation with my 18-year-old,” said Mary Cruise of Central City. “Just when I think I have all the bases covered …. A resource like yours helps us parents out even more.”
The two online modules — Student Loan Game Plan® and the ROCI Reality Check — 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.
The 30 high school seniors who score highest on the related assessment test will each receive a $2,000 scholarship that will be sent directly to their colleges in fall 2019. If top-scoring students tie, those students will 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 $250 award to be used toward scholarship and financial literacy programs.
The Iowa Financial Know-How Challenge: Senior Scholarship is open to legal U.S. citizens who are seniors at an Iowa high school during the 2018–2019 school year and attend college in fall 2019. It is a no-purchase-required program, and full rules and details are available at www.IowaStudentLoan.org/SeniorScholarship.
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.