Sec. 3. (a) This section applies to an academic year beginning after August 31, 2014. The commission shall publish annually a schedule of award amounts for the higher education award and freedom of choice grant issued under this article. The schedule must provide award amounts on the basis of the federal needs calculation. The federal needs calculation shall be derived from information submitted on the recipient’s financial aid application form. The commission shall determine award amounts separately for:

(1) recipients attending approved public state educational institutions (except Ivy Tech Community College);

(2) Ivy Tech Community College;

(3) recipients attending a nonprofit college or university listed in IC 21-7-13-6(a)(1)(C); and

(4) recipients attending approved postsecondary credit bearing proprietary institutions.

     (b) This subsection applies to an academic year beginning after August 31, 2017. The schedule of award amounts published under subsection (a) must offer a larger award to first time and prior recipients who successfully completed:

(1) at least thirty (30) credit hours or the equivalent during the last academic year in which the student received state financial aid; or

(2) at least thirty (30) credit hours or the equivalent during the last academic year in which the student was enrolled in a postsecondary educational institution.

     (c) In determining eligibility under subsection (b), the commission shall apply all the following types of credits regardless of whether the credits were completed during the last academic year described in subsection (b)(1) or (b)(2):

(1) Credits earned from dual credit, advanced placement, Cambridge International, and international baccalaureate courses.

(2) College credits earned during high school.

(3) Credits earned exceeding thirty (30) credit hours during a previous academic year in which a student received state financial aid.

     (d) The schedule of award amounts shall set forth an amount for recipients described in subsection (a)(1) that is equal to fifty percent (50%) of the amount for recipients described in subsection (a)(3).

As added by P.L.281-2013, SEC.5. Amended by P.L.2-2014, SEC.91; P.L.165-2016, SEC.2; P.L.191-2018, SEC.21; P.L.10-2019, SEC.91; P.L.52-2022, SEC.1.