Sec. 8. (a) Except as provided in this chapter, a scholarship is equal to the lesser of the following amounts:

(1) The balance of the student’s total cost of attendance for the academic year.

Terms Used In Indiana Code 21-13-2-8

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • scholarship: refers to the William A. See Indiana Code 21-13-2-0.5
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(2) Four thousand dollars ($4,000).

     (b) If the total of all scholarships awarded under this chapter exceeds the amount available for distribution in a state fiscal year, the amount to be distributed to each applicant shall be proportionately reduced so that the total reduction equals the amount of the excess based on the financial need of each eligible applicant.

[Pre-2007 Higher Education Recodification Citation: 20-12-21.7-7(a) part.]

As added by P.L.2-2007, SEC.254. Amended by P.L.148-2016, SEC.5.