Indiana Financial Aid Information & Changes

2014-2015Indiana Commission for Higher Education

State Financial Aid Programs

Need-Based Awards & Programs• Frank O’Bannon– Higher Education Award– Freedom of Choice Award

• 21st Century Scholars Program• EARN Indiana

State Financial Aid Programs

Non Need-Based Award• National Guard Supplemental Grant• Child of Veteran and Public Safety Officer

Supplemental Grant Programs• Mitch Daniels Early Graduation Scholarship• Student Teaching Stipends• Minority Teacher Scholarship

Frank O’Bannon Award

• Higher Education Award & Freedom of Choice• The applicant must: – Be an Indiana resident by December 31, 2014– Be a US Citizen or eligible noncitizen– Be a high school graduate or hold a GED– Attend an eligible Indiana institution– Be a full-time student – File a clean, on-time FAFSA

Frank O’Bannon Award

• Award Renewal– File a clean, on-time FAFSA each year– Meet the Satisfactory Academic Progress (SAP)

requirements as outlined by the college– Successfully complete 24-48-72 credit hours – Demonstrate financial need– Additional aid available to students who complete

30-60-90 credit hours; achieve a cumulative GPA of at least 3.0; earn an associate degree or complete credits on an accelerate schedule

Reading the GridStudent EFC (from FAFSA)

School Type

Example John has an EFC of $752. He plans to attend Indiana University.

School Type

EFC

John’s base award is $2,600.

Reading the Grid: Add Incentives

$800Academic Honors: • Student receives Academic or Technical

Honors Diploma in high school (year 1 award)• Student earns 3.0 GPA or higher (years 2-4)

Associate Degree: • Student earns an associate degree prior to

enrolling in an bachelor degree program.

Accelerated Schedule:• Student earns/completes 39+ or more credit

hours by the end of first year; must be on track to graduate in three years

$800

$1300

CHIPS & “Academic Honors” Incentive

• Report students on track to earn Academic Honor and Technical Honor Diplomas

• DO NOT report Core 40 diploma recipients• February 28, 2015: Deadline for INITIAL

reporting of diploma type• June 12, 2015: Deadline for FINAL updates• ahdc40@che.in.gov

21st Century Scholars Program

• 7th and 8th graders may enroll by June 30• Student’s household must have annual income of

not more than amount required to qualify for federal free or reduced price lunches

• REMEMBER– Must matriculate to college within 1 year of high school

graduation– Must file a FAFSA each year– Eligibility requirements from Frank O’Bannon award also

apply to 21st Century Scholars Program

21st Century Scholars Program

• Award Renewal– File a clean, on-time FAFSA each year– Meet the Satisfactory Academic Progress (SAP)

requirements as outlined by the college– Successfully complete 30-60-90 credit hours

EARN Indiana

• Employment Aid Readiness Network• Gives students with financial need access to

résumé-building, experiential, paid positions• Provides employers up to 50 percent wage

match for hiring EARN students• Enhances student-employer matching through

partnership with Indiana INTERNnet

National Guard Supplemental Grant

• 100% of tuition and regularly assessed fees• Public institutions only• Certified by Guard Unit each semester• Student must be in active drilling status,

cannot have been AWOL during prior year• Must file FAFSA by March 10 and complete

required National Guard paperwork

Child of Veteran and Public Safety Officer Supplemental Grant Programs

• 100% of tuition and regularly assessed fees• Public institutions only• Eligible children of disabled Indiana veterans• Eligible children of National Guard members

killed while serving on state active duty• Eligible children of Indiana public safety

officers killed in the line of duty

Mitch Daniels Early Graduation Scholarship

• $4,000 scholarship to be applied toward tuition and regularly assessed fees, balance remitted to scholarship recipient

• To qualify, students must: – Be an Indiana resident– Meet all requirements to graduate from a publicly-supported

high school at the end of the 11th grade by July 1, 2015– Enroll in an eligible Indiana institution within 5 months of high

school graduation– Submit application and file the FAFSA by the deadline

(September 4, 2015)– Correct any FAFSA edits by November 4, 2015

Student Teaching Stipends

• Student Teaching Stipend for Minorities• Students Student Teaching Stipend for High-

Needs Fields• Student must show at the time of application

that he or she will engage in student teaching during the academic term

Minority Teacher Scholarship• An individual is eligible if he or she: – Is a minority student (Black or Hispanic); – Is a full-time student at an eligible institution; – Intends to pursue a course of study that would

enable the student, upon graduation, to teach in an accredited school in Indiana;

– Agrees in writing to apply for a teaching position in an accredited school in Indiana following teacher certification and, if hired, to teach for at least 3 years

Professional Degree• Four or five year postsecondary school course of

study• Student may be admitted without an

undergraduate degree• Leads to degree that is not undergraduate or

graduate degree as determined by Commission• Prepares holder of degree for a profession• Examples: Physical Therapy, Veterinary,

Pharmacy, Optometry

Eight-Year Rule

• Awards are only renewable, if otherwise eligible, for eight years

• “After date the individual first applies after July 1, 2011 and becomes eligible for benefits”

• SFA has defined as when student first starts taking classes

Financial Aid and Accuplacer

• 2015 Graduates first class affected• No financial aid ONLY IF– General Diploma with evidence-based waiver– Taking remedial classes that are not in a co-

requisite model– And student does not pass Accuplacer

• Indiana Department of Education for more information on Accuplacer.

FAFSA

• RECEIVED by the federal processor between January 1, 2015 and March 10, 2015

• Corrections received by May 15, 2015• REMEMBER– Students must file the CORRECT year’s FAFSA– Students should file a FAFSA each year by March 10

even if they are not sure whether they will be attending college

– FAFSA may be filed with estimated tax information in order to meet March 10 deadline

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Degree Maps• Semester-by-semester list of courses to take to graduate

on time• For every Hoosier student attending public institution

starting with AY 14-15 freshman• Students should be sure to have their maps handy

during registration!! • Map built on assumption that classes are not dropped

or failed • Successfully complete courses to stay on track for

graduation *and* to stay eligible for the free course guarantee

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More Information

• Website: www.in.gov/che– Click the “Division of Student Financial Aid” link

• Email: ahdc40@che.in.gov • Phone: 1.888.528.4719• Fax: 317.232.3260