ISU President Steven Leath announced his ambitions and priorities at his installation earlier this month. One of the most considerable announcements was the goal of raising $150 million in private gifts to increase financial aid for students.

“The primary goal here is really making college affordable for Iowa State students,” said Miles Lackey, associate vice president at Iowa State. “President Leath is very concerned about the level of debt students are incurring and wants the institution to do all that it can to reverse that trend.  That being said, if we do our job to make college more affordable, I am sure enrollment will continue to grow.”

Donations will come from both alumni and non-alumni that are eager to present students an opportunity to be part of the Cyclone nation.

“Here at Iowa State we are blessed to have very generous supporters that went to school here, as well as other very generous supporters that did not,” Lackey said. “Frankly, we’ll need support from the entire Cyclone family to accomplish this fundraising goal.”

Increasing the amount of donations is not necessarily tied into the goal of increasing enrollment. Once the money is raised, if the donors do not give a specific use for the money they donated, it will go to support students based on merit or need, Lackey said.

Leath will raise funds for this initiative and also have help from other organizations. The ISU Foundation is an organization involved in connecting with donors and encouraging alumni and friends of Iowa State to support the future generation of ISU graduates. The foundation will be helping Leath with reaching his donation goals.

Larissa Jones, vice president of development at the ISU Foundation, said that they have several ideas already in place.

“The timeline for the student support initiative is five years,” Jones said.

Jones also said they will try their best to encourage alumni and friends of the university to donate.

“We will partner with the campus,” Jones said. “Certainly President Leath will serve as a spokesperson, but so will the senior vice presidents and deans. There will be events, publications, phone calls, direct mail and personal conversations.”

Jones affirmed that the events and broadcasting will not add any additional costs to the fundraising project or cost students money.

“The ISU Foundation serves as the fundraising arm for the institution. This initiative is part of our annual operations and will not have separate costs associated with it,” Jones said

Jones said that the financial support will become available the year after it is donated.

“[The ISU Foundation is] always raising money for student support, but this initiative has increased priority and focus,” Jones said.