CEDAR FALLS, Iowa - The University of Northern Iowa distributed $99.1 million in financial aid to students during the 2023-24 academic year, an increase of nearly 9% over the previous year. UNI financial aid includes grants and scholarships, loans, work study, and employment. Ninety-nine percent of first-year students receive some form of financial aid at UNI.

UNI continues to have the lowest net cost for Iowa residents of any college or university in the state, providing high-quality degrees in high-demand areas such as business, health, engineering and education.

The average debt of UNI students also continues to decline. In fact, UNI had the third-lowest average debt among all 2023 graduates from four-year colleges and universities in the state of Iowa at $14,396. That figure is the lowest among Iowa’s three Regent universities and well below national averages. A winning combination of robust financial literacy, private loan counseling, TEACH grants and 15-credit semesters helps explain this low debt rate. 

"At UNI, we are deeply committed to ensuring that financial challenges do not stand in the way of earning a degree,” said Tim Bakula, director of the Office of Financial Aid and Scholarships. “The financial aid we distributed last year is a testament to that commitment. Our goal is to empower students with the resources and support they need to succeed both academically and financially."

Future educators make up a significant portion of the student body at UNI. Setting these students up for success is vital to create top-tier schools throughout the state and the country. This is why UNI has been a part of the Federal Teacher Education Assistance for College and Higher Education (TEACH) Grant since its inception in 2008. Designed for students planning to teach in a high-need field in a low-income school, these grants provide $4,000 per year for four years as an undergraduate student and two years as a graduate student. During fiscal year 24, nearly 600 UNI students were awarded TEACH Grant funding, totaling $1.9 million in aid.

University of Northern Iowa financial aid advisors can provide information and resources regarding paying for college and planning for the future. The Office of Financial Aid and Scholarships is located on the UNI campus in 105 Gilchrist Hall. Learn about applying for UNI financial aid and how to start your journey by visiting the office’s website or calling 319-273-2700.