The bill proposes a new provision in Iowa law that mandates regents institutions to waive undergraduate tuition and mandatory fees for Iowa residents who achieve the maximum score on specific standardized tests, including those administered by ACT, the College Board, and the Classic Learning Test. In addition to the tuition waiver, eligible students will receive a stipend of $5,000 per semester. To qualify for the waiver and stipend, students may need to provide documentation of their test scores.

Furthermore, the bill stipulates that students must maintain satisfactory academic progress toward graduation to continue receiving the waiver and stipend. The Board of Regents is granted the authority to establish standards for what constitutes satisfactory academic progress. This initiative aims to incentivize high academic achievement among Iowa residents and support their higher education endeavors.

Statutes affected:
Introduced: 262.9