The Iowa Economic Development Authority is granting innovation funding to support a Davenport startup aimed at making college tuition costs transparent.
The IEDA board approved a $25,000 Proof of Commercial Relevance loan for TuitionFit, an online platform that allows the public to share college financial aid offers. Davenport resident Mark Salisbury, who worked in higher education for 25 years, launched the company this past winter.
With college tuition costs varying from student to student, depending on economic and academic status, Salisbury wants the public to better understand the cost of college and make more informed decisions when choosing an institution to attend.
In addition, he hopes colleges will improve enrollment by inviting students to apply based on a realistic price.
The IEDA awarded the loan for market planning and market entry. The announcement came earlier this month, when the IEDA approved projects for five legacy companies, plus funding for four startups across the state.