The Frank O’Bannon Grant is a state programs meant to assist students who demonstrate financial need. It consist of the Higher Education Award (HEA) for public institution. They receive funding through appropriations made by the Indiana General Assembly.
Eligibility
Student must:
- Have submitted a valid Free Application for Federal Student Aid (FAFSA) by April 15. Indiana State University (school code is 001807) must be listed on the students FAFSA. The Commission will consider students who file their FAFSA past the original deadline, however, limited funding is available on a first-come basis ;
- Be an Indiana resident;
- Be enrolled full time (at least 12 credit hours) before the last day of the term to receive State Aid;
- Be working toward his or her first bachelor's degree;
- Be making Satisfactory Academic Progress (SAP);
- No separate application is required for this program. Indiana Commission of Higher Education will automatically contact you regarding your eligibility based off your FAFSA. For more information visit http://in.gov/che/4506.htm.
Amount
- The amount varies from $950-$4,500 based on the Expected Family Contribution (EFC) as determined by the FAFSA.
- Restricted to tuition and fees only - Neither award pays for textbooks.
- Frank O’Bannon Grant offers incentives for eligible students:
- Academic Honors Incentive ($800 per academic year) - graduate high school with Academic or Technical Honors Diploma, for the second, third and fourth award years, you are required to have a 3.0 cumulative GPA through end of previous award year;
- 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;
- 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.
Renewal
- Valid for 8 semesters of full-time enrollment, and must be used within 8 years of initial application.
- File a FAFSA on time (April 15) for all consecutive years, skipping a year is permissible.
- IMPORTANT: Indiana Commission for Higher Education (ICHE) requires that students meet the following credit completion standard to receive their On-Time award:
- Earn 30 completed credit hours per academic year;
- If you do not complete the 30 hours requirement,
- Your Frank O’Bannon Grant will be reduced dollar value (Full-Time Award compared to an On-Time Award)
- You must at least have 24 credit hours to receive the Frank O’Bannon Grant.
Notification and Disbursement
If eligible, the Frank O’Bannon Grant will be listed on the student's award notification as well as posted to the MyISU Portal account. Funds are applied directly to the student's account approximately nine days before the start of the applicable semester. Students can check their eligibility for state awards on their ScholarTrack account.
Frequently Asked Questions
What counts as "earned"?
- Anything earned at ISU for credit, including even D-
- All pre-college work, including dual-credit, AP, and LEAP
- All transfer work
- ISU only reports cumulative credit earned at ISU. If you're worried about transfer credit being included, talk to your previous institution to ensure they are reporting those hours to the state.
What if I didn't make my hours?
- If you earned 24 hours or more, and demonstrate financial need, you could get a reduced award. You can regain eligibility if you get back on track.
- The state accepts appeals based on extenuating circumstances. Visit http://www.in.gov/sfa/2565.htm for details.