This article is intended for Iowa parents applying for the 2024/25 Students First Grant.
Funding is available to the ESA (Education Savings Account) holder for the entire time they are eligible, which is from kindergarten through 12th grade (or up to 20 years), and for the years that they are able to participate. The ESA holder does not need to take any action, as it is managed like a bank account.
One important condition is that any refunds from the ESA MUST be used towards tuition and fees first. Additionally, if new funding is deposited on July 15th, it MUST first go towards tuition and fees.
For example, if a student participates in the program in third grade but does not attend a school in fourth grade, their funding access would be revoked for that year. However, if they return in their fifth year and attend a school, they would have access to the funding for that year and what is left of their funds from third grade, but not from fourth grade. This rule applies for all years the student participates, up until they graduate high school. So, if a student were to skip just fourth grade, by the time they graduate high school, they would have access to 9 years of available balances.