A Highly Affordable Option

In terms of affordability, Graceland University and its added value of a small private institution is on a par with Iowa’s state schools, University of Northern Iowa (UNI), Iowa State University (ISU), and University of Iowa (UI).

Graceland was listed for lowest average net cost alongside these three “regent universities” in the Annual Student Financial Aid Report that was recently published by the Iowa Board of Regents.

The report found that for the first time ever, financial aid given to undergraduate students by state universities has surpassed the amount provided by the federal government.

According to the report, institutional financial aid for undergraduate students grew by more than 5% to $319 million in the 2023-2024 academic year, the fourth consecutive year of increases. Federal undergraduate aid sat at just over $311 million in the same year.

The average net cost for all public university students in Iowa was $18,660, the report further stated. The regent universities’ ranking by most affordable option for earning a bachelor’s degree in the state of Iowa is joined at the top by two private institutions: Graceland University in Lamoni, and Buena Vista University in Storm Lake.

UNI (average net price: $15,931) leads the list, directly followed by Graceland University ($16,632), then ISU ($17,374), Buena Vista University ($18,156), and UI ($20,121).

With federal aid across the USA on a downward trend, Iowa universities of all sizes are stepping up to make education work for their students, offering more diversified financial aid packages. The increased financial literacy of students is also becoming an important part of the equation, resulting in fewer students graduating with debt.

A more in-depth summary of the Iowa Board of Regents’ Financial Aid Report, you can find in this Iowa Capital Dispatch article – or you can directly dive into the report on the website of the Iowa Board of Regents.