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In 2013, Indiana lawmakers sent a clear signal that encourages on-time college completion through student financial aid incentives and annual credit completion expectations, because students who complete at least 30 credit hours per year have the best chance to graduate on-time.
Students who receive state financial aid for the first time during the 2013-2014 academic year or thereafter will be required to meet certain completion requirements to renew state financial aid awards in subsequent years. This includes students who first started school prior to July 1, 2013 but receive their first state awards after that date. Students receiving the Frank O'Bannon Grant, 21st Century Scholarship and Part-Time Grant are subject to credit completion requirements.
PLEASE NOTE: The number of remedial credits that will be counted toward the credit completion requirements will be limited to 12, and the remedial credits must be earned during the student's first academic year.
Students who fail to meet the credit completion requirements due to extenuating circumstances may file an appeal.
FRANK O'BANNON GRANT
To renew a base Frank O'Bannon Grant (administered as the Higher Education Award or the Freedom of Choice Award), a student must complete at least 24 credit hours or the equivalent by the end of the first year in college, 48 or the equivalent by the end of the second year and 72 or the equivalent by the end of the third year. Students may earn additional financial aid incentives for academic performance including completion of at east 30/60/90 credit hours or the equivalent by the end of the first/second/third year in college, maintaining a cumulative GPA of at least 3.0, earning an associate degree before enrolling in a bachelor degree program or completing at least 39/78 or the equivalent credit hours by the end of the first/second year in college.
21st CENTURY SCHOLARSHIP
To renew a 21st Century Scholarship, a student must complete at least 30 credit hours or the equivalent by the end of the first year in college, 60 or the equivalent by the end of the second year and 90 or the equivalent by the end of the third year. If a student fails to complete 30/60/90 credit hours or the equivalent but does complete 24/48/72 or the equivalent within the appropriate timeframe, the student may be awarded a Frank O'Bannon Grant (see above) instead of the 21st Century Scholarship.