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Showing posts from August, 2012

Policy Paper: The effects of Iowa College Student Aid Commission’s (ICSAC) decision to reduce the Iowa Tuition Grant (ITG).

This is an old draft (please excuse the grammatical errors!) of a paper I wrote for a macroeconomics course. Thought it would make a good blog post as I reminisce through some old e-mails, several years old in fact.



Overview
The Iowa College Student Aid Commission is the state agency that administers the Iowa Tuition Grant for Iowa students attending not-for-profit independent colleges and universities. Last spring we authorized Financial Aid Administrators to provide awards of up to $4,000, the maximum award allowed by law. The recent economic downfall has led to the drops in state revenue, thus ICSAC will reduce the grant by $435 for the remainder of the year. While the maximum award has been lowered to $3,565. The full reduction will affect students scheduled to receive awards totaling $1,000 to $2,000 for the remainder of the academic year. All students scheduled to receive less than $1,000 will have their awards reduced by $220. This reduction in ITG funding will result in a higher …