IN HB1280

Establishes the Indiana Lifelong Learning Incentive for Excellence (LIFE) scholarship program to provide postsecondary education scholarships to Indiana residents, administered by the state student assistance commission

Creates the LIFE scholarship fund using slot machine wagering taxes collected after June 30, 2010, and redirects certain riverboat admissions taxes that previously went to the state general fund

Scholarship amounts vary by institution type: full tuition and fees at state schools; average tuition/fees of the four highest-tuition state institutions for nonprofit private schools; Ivy Tech tuition/fees rates for for-profit proprietary institutions

Recipients must be U.S. citizens or eligible permanent residents, Indiana residents, not in default on educational loans, not convicted of drug felonies, and not incarcerated

Students must maintain a cumulative 3.0 GPA after 30 semester hours (or 45 quarter hours) to continue eligibility, and scholarships are limited to students who have attempted fewer than 61 semester hours (or 91 quarter hours)