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Regents allocate $8.3 million for financial aid

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Regents allocate $8.3 million for financial aid

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CEDAR FALLS — The state Board of Regents on June 7 approved allocating $8.3 million in fiscal 2019 to be used as financial aid for resident undergraduate students during the board meeting at the University of Northern Iowa.

The Iowa Legislature appropriated the funding in April; it makes up approximately 69 percent of the $12 million the regents had requested in September 2017.

UNI would receive just under 25 percent of the funding, $2 million, and the remainder will be allocated equally between the UI and Iowa State University, approximately $3.15 million each.

The state Legislature had approved $10.9 million in funding cuts, were evenly split between the fiscal 2018 budgets of ISU and the UI. The bill passed the Iowa House, 59-41, on March 20 and the Iowa Senate, 28-21, on March 21. The bill was signed into law by Gov. Kim Reynolds on March 28.

— Emily Wangen

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