Thirty Iowa high school seniors will each be awarded $2,000 for college through the third Iowa Financial Know-How Challenge: Senior Scholarship, sponsored by Iowa Student Loan®.
To enter the scholarship, interested students should register and review scholarship rules at www.IowaStudentLoan.org/SeniorScholarship between now and March 4. After registering, students will be emailed instructions on how to complete the required steps, which include two online tutorials and a multiple-choice assessment, to qualify for the scholarship.
Iowa Student Loan developed the online tutorials to educate students on ways to reduce their need to borrow for college and how to maximize their return on college investment, or ROCI. The assessment will measure students’ understanding of those concepts.
Completing the registration and all three elements should take around an hour, according to scholarship organizers at Iowa Student Loan. Students can complete the elements one at a time or back-to-back anytime between Nov. 2 and March 4, using the instructions they receive via email.
The 30 students with the highest scores on the assessment will each win a $2,000 college scholarship. The money will be sent directly to the winners’ colleges and universities to be applied to their fall bills. If top-scoring students tie, those students may need to write and be judged on a brief essay to determine final winners.
In addition to the student scholarships, a corresponding $500 will be awarded to each recipient’s high school.
During the scholarship qualifying period, registered students will receive emails with tips for college enrollment and financing. An option allows registrants to provide parents’ emails so their families can also benefit from this valuable information.
Michaela Ostendorf, a graduate of Madrid High School and a 2015 recipient of the scholarship, commented, “Receiving this scholarship helps me with my goal of paying for my college education while incurring little to no debt. I encourage others to utilize the information from Iowa Student Loan in preparation for college.”
Over the past two years, nearly 5,000 Iowa high school students registered for the Iowa Financial Know-How Challenge Scholarship, with 40 recipients from 33 high schools across Iowa.
Shuling Cheng, a 2015 graduate of Johnston High School and another scholarship recipient, said, “This generous scholarship will help cover a portion of the room and board as well as the books and supplies expenses.”