IN SB0520

Legislative Description

College grant pilot program. Establishes the higher education grant pilot program (pilot program) for the purpose of defraying the cost of attending Indiana state postsecondary institutions. Provides that the commission for higher education (commission) shall administer the program. Provides that Indiana high school graduates who have resided for at least one year in one of the following counties are eligible for a grant under the pilot program: (1) Allen County. (2) Jackson County. (3) Lake County. (4) Marion County. (5) Vanderburgh County. Provides that an applicant for a grant under the pilot program must file the Free Application for Federal Student Aid (FAFSA) and accept all offered federal scholarships and grants for the academic year. Provides that a grant under the pilot program must be in an amount sufficient to pay the difference between: (1) the amount of other financial aid (not including loans) received by the grant recipient for the academic year; and (2) the amount of the grant recipient's: (A) mandatory tuition and fees; (B) cost of books, supplies, and equipment; and (C) if the grant recipient's household income is less than 250% of the federal income poverty level, cost of room and board; for the academic year. Provides that to maintain eligibility to receive a grant under the pilot program for the next academic year, a recipient of a grant under the pilot program must: (1) maintain continuous enrollment as a part-time or full-time student at a state educational institution; (2) maintain a grade point average of 2.0 on a 4.0 scale; and (3) perform at least eight hours of community service each semester; during the academic year for which the individual receives the grant. Provides that at least 5% of the funds distributed as grants under the pilot program must come from private donations. Requires the general assembly to appropriate funds sufficient to provide grants under the pilot program in the number and amount projected by the commission to be awarded in the state fiscal year. Provides that an individual may not receive grant funds under the pilot program for more than 124 credit hours. Requires a recipient of a grant under the pilot program to reside in Indiana for at least two years following the recipient's graduation from the undergraduate program for which the recipient receives the grant, and requires a grant recipient who does not comply with this requirement to repay to the commission a prorated amount of the grant funds based on the proportion of the two-year period during which the recipient did not maintain continuous residence in Indiana. Provides that grant funds under the pilot program are paid directly to the state educational institution at which the grant recipient is enrolled. Establishes the Indiana promise fund for the purposes of maintaining and distributing grant funds under the pilot program. Provides that the commission may establish a career counseling requirement for recipients of grants under the pilot program. Requires the commission to report to the governor and the legislative council regarding the pilot program and any suggested changes to the pilot program not later than October 1, 2024.

Last Action

Committee Referrals