Establishing the Iowa for all college corps program in the college student aid commission and making appropriations

This bill establishes the Iowa for all college corps program in the college student aid commission (commission). The bill provides that the purpose of the program is to provide grants to selected students to make higher education more affordable. The bill requires the commission to administer the program in collaboration with the state board of regents (BOR). The bill establishes that an Iowa resident applicant who graduated from a high school in this state shall be eligible for a grant under the program if the applicant has completed and filed an application with the commission, is enrolled in an eligible university, has completed at least 450 hours of community service during the eligible university’s academic year, and if the applicant satisfies any other criteria established by the commission. The bill limits the amount of a grant under the program to an amount not to exceed the highest resident tuition rate established for institutions of higher education governed by the state board of regents during the school year the applicant submitted an application under the program. The bill requires the commission to award grants on a first-come, first-served basis based on the date the applicant submits an application. The bill requires the commission, in collaboration with the BOR, to adopt rules to administer the program. The bill establishes a fund for the program in the state treasury. The bill provides that the commission shall use not more than percent of the moneys in the fund at the beginning of the fiscal year to pay the costs and expenses associated with the administration and operation of the program. The bill appropriates $10 million from the general fund to the commission for FY 2022-2023 for deposit in the fund. The bill also authorizes the commission to hire three full-time employees. The bill defines “eligible university”.