Iowans who attend the state’s three public universities could receive a permanent tuition discount of more than $1,000 if the Legislature creates a need-based grant program, according to an Iowa Board of Regents proposal released Wednesday.
The board, which oversees the universities, plans to ask the Legislature next year for $39.5 million to start a grant for Iowa undergraduates at the University of Iowa, Iowa State University and the University of Northern Iowa who have financial need.
The proposal is part of a plan to eliminate, within five years, $150 million in scholarships paid for with other students’ tuition dollars.
The current policy, called tuition set-aside, earmarks about 20 percent of tuition paid by every student to scholarships for others.