| Scholarship or Voucher Value: |
Each STO determines the amount of the scholarships it distributes. In 2007, the average scholarship was worth $528. |
| Student or School Participation: |
In 2007, a total of 7,527 scholarships were distributed. |
| Student Eligibility: |
Children are eligible to receive scholarships if their family incomes do not exceed 300 percent of federal poverty guidelines.
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| Legal Status of Program: |
No legal challenges have been filed against the program.
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| Regulations on the Program: |
STOs must be governed by a seven-member board of directors, allocate 90 percent of their annual tax-credit donations to scholarships, submit annual reports and undergo an annual financial review by a public accounting firm. They may not restrict their scholarships to one school (although all of an STO’s scholarships may happen to end up at one school if all the parents decide to use them at that school). Donors may not earmark their donations for particular students. Participating schools may only receive scholarships from one STO and must be accredited by the state and adhere to federal and state civil rights laws. |
| Research on Program: |
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| News on Program: |
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| Governing Statutes: |
Section 422.11M of the Iowa Code
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