Applying for Aid

Merit-Based Aid

Merit-based financial aid is offered to over 65% of enrolled students each year. These awards recognize excellence in academic and professional settings. Decisions are based on the information provided in the admission application materials and in the evaluative interview that is part of the admission review. No additional application form is required.

The criteria for these awards mirror those for admission—academic record, work history, leadership experience, and test scores— and applicants with the highest qualifications receive offers for aid. Domestic and international applicants are eligible for awards. Awards may consist of a scholarship, or a graduate assistantship with a scholarship. The average scholarship amount is approximately $5,000. Graduate assistantships provide an annual salary of approximately $8,000, a contribution toward health insurance costs, and resident tuition status for non-Iowa residents (a savings of over $10,000 per year in tuition).

MBA Loans

"How to Finance Your MBA" provides general information regarding types of financial aid available, as well as information on where to look for additional sources of aid. This booklet is available on the GMAT web site, which also provides additional resources and links regarding financial aid.

Federal Aid

U.S. citizens and permanent residents may apply for aid sponsored by the federal government by completing the Free Application for Federal Student Aid (FAFSA). In addition to the paper application form, you may apply online at www.fafsa.ed.gov (but do not submit more than one application). Completing the FAFSA application form is often a required first step in applying for state loans and for some private funding sources.

Additional Resources

Information regarding other sources of financial assistance is available at The University of Iowa Financial Aid website. Links to sources for both loans and scholarships are provided.