WHAT KINDS OF FINANCIAL AID CAN I GET?
Did you know your good grades could earn you more dollars for college? Scholarships and grants — money you receive for college that you don’t have to pay back — fall in two categories:
Merit-based aid is awarded to students who have distinguished themselves academically, artistically, athletically, or in another area. Even for aid based on extracurricular activities, there is often a grade point average (GPA) cut-off. For example, some scholarships only accept applications from students with a 3.0 or higher GPA.
Need-based aid is determined by how much you or your family is able to pay for your college education. Your family’s income, or another status such as living in a foster home, may qualify you for need-based financial aid. If you qualify for need-based aid, you’ll still have to keep up with your grades — Indiana includes academic requirements for need-based grants and scholarships.
Indiana’s two largest need-based aid programs are the Frank O’Bannon grant and the 21st Century Scholars program. Find information about these and other Indiana Scholarship programs here.