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Indiana Financial Aid Information & Changes Division of Student Financial Aid (SFA) Indiana Commission for Higher Education.

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Presentation on theme: "Indiana Financial Aid Information & Changes Division of Student Financial Aid (SFA) Indiana Commission for Higher Education."— Presentation transcript:

1 Indiana Financial Aid Information & Changes Division of Student Financial Aid (SFA) Indiana Commission for Higher Education

2 State Financial Aid Programs Need-Based Awards & Programs Frank O’Bannon – Higher Education Award – Freedom of Choice Award 21 st Century Scholars Program EARN Indiana

3 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

4 Frank O’Bannon Award Higher Education Award & Freedom of Choice The applicant must: – Be an Indiana resident by December 31, 2013 – 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

5 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 credit hours – Demonstrate financial need – Additional aid available to students who complete credit hours; achieve a cumulative GPA of at least 3.0; earn an associate degree or complete credits on an accelerate schedule

6 DRAFT

7 Example Base Awards Expected Family Contribution Institution $0$1 to $500 $501 to $1,000 $1,001 to $1,500 Public On-Time$3,300$2,800$2,300$1,800 Full-Time$2,600$2,200$1,800$1,400 Ivy Tech or Proprietary On-Time$2,700$2,200$1,700$1,200 Full-Time$2,200$1,800$1,400$1,000

8 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, 2014: Deadline for INITIAL reporting of diploma type June 13, 2014: Deadline for FINAL updates

9 Academic Honors Incentive Students who earned an Academic or Technical Honors diploma in high school receive incentive for first year of college Students must earn a cumulative GPA of at least 3.0 to receive incentive in second, third and fourth years of college

10 Associate Degree Incentive Student receives Associate Degree from eligible Indiana institution Student then enrolls in baccalaureate program Student qualifies for Frank O’Bannon award

11 Accelerated Schedule Incentive Available to student in second year if student completes at least 39 credit hours by end of first year Available in third year if student completes at least 48 credit hours by end of second year

12 21 st Century Scholars Program 7 th and 8 th 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 21 st Century Scholars Program

13 21 st 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 credit hours

14 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

15 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

16 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

17 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 11 th grade by July 1, 2014 – Enroll in an eligible Indiana institution within 5 months of high school graduation – File the FAFSA by the deadline (November 15, 2014) – Submit application by the deadline (September 4, 2014)

18 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

19 Minority Teacher Scholarship An individual is eligible if he or she: – Is a minority student; – 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

20 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

21 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

22 FAFSA RECEIVED by the federal processor between January 1, 2014 and March 10, 2014 Corrections received by May 15, 2014 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

23 More Information Website: – Click the “Division of Student Financial Aid” link Phone: Fax:


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