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IN HB1231
Bill
Status
2/24/2015
Primary Sponsor
Todd Huston
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AI Summary
HB 1231 Summary
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Creates the "Accelerate Your Success Award" program for Indiana students enrolled in accelerated degree programs that allow graduation at least one year ahead of the standard program length.
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Establishes an "Accelerate Your Success Award Fund" administered by the commission for higher education, consisting of general assembly appropriations and private gifts/grants, with funds remaining available year to year rather than reverting to the general fund.
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Eligible programs must achieve on-time graduation rates of 70% or higher, serve low-income and first-generation students, and charge tuition allowing students to pay at least 10% less over the accelerated program duration compared to the published program length.
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Award amounts equal the lesser of actual tuition and fees or 180% of the standard financial aid amount, with recipients receiving awards for up to 3 years (baccalaureate) or 1.5 years (associate/certificate).
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Students receiving the accelerate your success award may not simultaneously receive a Frank O'Bannon award, and each term of accelerate your success award eligibility reduces other financial aid eligibility by one term.
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Effective date: July 1, 2015.
Legislative Description
Accelerated degree programs. Provides for a higher education award for students who participate in an accelerated degree program. Specifies that a student receiving the award may not receive a Frank O'Bannon award. Appropriates to the commission for higher education: (1) $1,000,000 in the 2015-2017 biennium for start-up grants to state educational institutions to establish accelerated degree programs; and (2) $1,500,000 in state fiscal years 2015-2016 and 2016-2017 for awards to students participating in accelerated programs. .
Last Action
Senator Stoops added as cosponsor
3/19/2015