The bill proposes a new initiative to support Iowa residents who excel academically by waiving undergraduate tuition and mandatory fees at regents institutions for those who achieve the maximum score on specific college readiness assessments, namely those administered by ACT, Inc. or the College Board. In addition to the tuition waiver, qualifying students will receive a stipend of $5,000 per semester. To ensure eligibility, the board may require documentation of the test scores, and students must maintain satisfactory academic progress toward graduation to continue receiving these benefits.

This legislation aims to incentivize high academic performance among Iowa residents and promote access to higher education. The board of regents is granted the authority to establish standards for satisfactory academic progress, ensuring that the support provided aligns with the students' educational goals.

Statutes affected:
Introduced: 262.9