Future Ready Iowa Last-Dollar Scholarship

The Last-Dollar Scholarship is designed to close a specific gap: after nonrepayable federal and state grants and scholarships are applied, it may cover remaining tuition and qualified fees in eligible programs. Student loans are not subtracted as if they were scholarships. There is no universal fixed award; the result depends on the applicable price and the nonrepayable aid the student already receives.

Potentially eligible students include Iowa residents who recently completed high school, homeschooling, or an equivalency credential, as well as people age 20 or older; they must enroll at least part time in an approved program. Their Student Aid Index (SAI) must be 30,000 or below, and the eligible-program list changes with workforce demand. The aid may be used at Iowa community colleges and certain participating accredited private colleges.

FAFSA is required, and Iowa lists June 30, 2027, as its FAFSA deadline for the 2026–27 school year. To remain eligible, students must keep Iowa residency, file FAFSA each year, attend orientation, register with advising support, and meet satisfactory academic progress. Continuous enrollment of at least six credits per semester or term is also required, though summer is not part of the continuous-enrollment rule.

The award is calculated against eligible tuition and fees and should not be treated as a promise to pay housing, transportation, or every personal expense. The state also describes academic coaching and career guidance for recipients. Before choosing a program, confirm that it appears on the current list and that the institution participates. Filing FAFSA early matters because other state aid can have limited funding.

Official program information and application