The Frank O’Bannon Grant (formerly the Indiana Higher Education Grant) is need based and the amount of the award varies each year based on funding levels and the number of eligible students. The amount of an O’Bannon Grant is calculated based on Free Application for Federal Student Aid (FAFSA) information and the type of Indiana high school diploma earned by the student (Academic Honors, Core 40, or General).
Frank O’Bannon Grant receives its funding through appropriations made by the Indiana General Assembly.
To qualify for state grant consideration the student must:
- Be an Indiana resident
- Be a U.S. Citizen or eligible non-citizen
- Demonstrate significant financial need
- Be enrolled in 12 credit hours of course instruction on the 28th day of class;
- Attend, or plan to attend, an eligible Indiana college or university
- Have made any FAFSA corrections, such as signatures, by May 15; and
- Have submitted a valid Free Application for Federal Student Aid (FAFSA) by March 10 of the year proceeding the academic year the applicant plans to enroll.
The state award eligibility period is limited to eight semesters within a maximum of eight years. A student must be full-time (12 semester hours) on the state award “census” date (the end of the 25% refund period & end of the fourth week of the semester). If a student has dropped below full-time before the census date, state awards are cancelled in full and the student’s bursar account will reflect an amount due that is equal to the cancelled award.
- Varies per year in accordance with state appropriations, the type of high school diploma that the student received, and the Expected Family Contribution as determined by the FAFSA
- Restricted to tuition and fees only
- Ranges from $900-$3,700, plus incentives up to $1,600 for eligible students:
- 1. Academic Honors Incentive ($800, first year only) – graduate high school with Academic or Technical Honors Diploma;
2. GPA Incentive ($800, second, third, and fourth years) – earn at least a 3.0 cumulative GPA through the end of the previous award year;
3. Accelerated Schedule Incentive ($1300, second and third years) – complete at least 39 credit hours by the end of the first year; complete at least 78 credit hours by the end of the second year;
4. Associate’s Degree Incentive ($800, first, second, third, and fourth years) – earn an associate’s degree from an accredited Indiana college or university before enrolling in a baccalaureate program.
Frank O’Bannon Grant Renewal
- Valid for 8 semesters of full-time enrollment, and must be used within 8 years of initial application.
- Due to state regulations, completing at least 24 credit hours per year is required of students who initially enrolled and began receiving financial aid from the state of Indiana on or after the start of the Fall 2013 semester. Therefore, in order to continue receiving Frank O’Bannon funds from one year to the next students must complete at least 24 credit hours by the end of their first year in college, 48 credit hours by the end of their second year in college, and 72 credit hours by the end of their third year in college. If a student fails to successfully complete at least 24/48/72 credit hours during the appropriate timeframe, he or she will not be eligible for this award the following year. Students who attended and received financial aid from the state of Indiana prior to the Fall 2013 semester will not be held to the new credit hour legislation.