IN HB1249

Establishes an early graduation scholarship of $3,500 for Indiana students who graduate from high school by the end of grade 11 and enroll in an approved postsecondary institution within five months

Eligible students must be Indiana residents who attended a publicly supported secondary school full-time for at least two semesters before graduation and received their diploma after December 31, 2010

Reduces state tuition support payments to school corporations by the amount of early graduation scholarships awarded, with funds transferred to the early graduation scholarship fund

Requires the Indiana State Board of Education to amend rules (including 511 IAC 6-7.1-3) to allow students to graduate early and qualify for the scholarship, with temporary rulemaking authority through July 1, 2012

Scholarship funds must be applied to tuition and fees before other grants or scholarships and cannot be counted as a financial resource when determining eligibility for other state financial aid