Last Updated on June 28, 2023 by Lori Pace
Are you a college student in Indiana looking for financial aid? The Frank O’Bannon Grant is the solution you’re looking for.
The Frank O’Bannon Grant is designed to provide financial assistance to eligible Indiana students pursuing higher education. Whether attending a public or private college, the state grant can help you cover your tuition costs.
In this article, you’ll learn about the eligibility requirements for the Frank O’Bannon Grant, how to apply for it, how much you can receive, and how to renew it. You’ll also discover other financial aid resources available to Indiana students and tips for maximizing your award.
By the end of this article, you’ll have a better understanding of how the Frank O’Bannon Grant can help you achieve your educational goals.
What Are the Eligibility Requirements for the Frank O’Bannon Grant?
If you’re an Indiana resident and planning to attend an eligible postsecondary institution, you may be eligible for the Frank O’Bannon Grant. However, you must first demonstrate financial need and complete at least 30 credit hours during the 12-month award year.
Eligible students must be Indiana residents with U.S. citizenship or eligible non-citizen status. Applicants must also hold a high school diploma or a GED. Students must attend an eligible Indiana postsecondary institution to work towards an associate or first bachelor’s degree.
The Indiana Commission for Higher Education administers the grant, and degree-seeking students are automatically considered for the grant when they submit a valid FAFSA by April 15th of the academic year preceding the academic year they plan to enroll.
The full-time award amount varies based on the Expected Family Contribution (EFC) as determined by the FAFSA, and students must meet credit completion requirements to receive the full award.
Students may also use the Frank O’Bannon grant during the summer while enrolled part-time.
How to Apply for the Frank O’Bannon Grant?
To successfully apply for the Frank O’Bannon Grant, you must complete and submit the FAFSA form and meet specific eligibility requirements. Here’s a step-by-step guide to help you apply for the grant:
1. Complete the Free Application for Federal Student Aid (FAFSA) form to determine your eligibility for federal financial aid.
2. Submit the form to the Indiana Commission of Higher Education (ICHE) by the deadline.
3. Meet the eligibility requirements, such as being an Indiana resident, a U.S. citizen, or an eligible non-citizen enrolled in an eligible program at an eligible Indiana college or university.
If you’re a dependent student, your parent’s financial information will also be required. The Frank O’Bannon Grant award amount varies depending on several factors, including the maximum award for the academic year, full-time study status, and attending a tech community college.
The award notification will be sent to you by your school’s financial aid office. Remember that if you’ve received a previous award, you must meet the eligibility requirements and complete the FAFSA form each year to continue receiving the grant.
How Much Will You Receive from the Frank O’Bannon Grant?
The amount awarded by the Frank O’Bannon Grant varies based on factors such as enrollment status, program eligibility, and the maximum award for the academic year. As a full-time student attending a tech community college, you may receive up to $3,500 per academic year. However, the maximum award can be increased for those attending a four-year institution or pursuing a high-demand degree program.
The grant is typically disbursed in two payments, with the first payment made in the fall and the second in the spring. The monthly award amount is determined by dividing the total award by the number of months in the academic year. Award notifications are sent out in the summer, and the grant can be renewed each year based on your previous award and the number of extra credits or cumulative credit hours earned.
How Do You Renew Your Frank O’Bannon Grant?
Renewing the Frank O’Bannon Grant is possible each year based on the previous award and earned credits or cumulative credit hours. To qualify for renewal, students must meet the credit completion standard, which requires them to complete at least 24 credits per academic year.
Dependent students who have graduated from an Indiana high school must maintain a minimum GPA of 2.0, while independent students must maintain a minimum GPA of 2.5. Additionally, students who receive the Frank O’Bannon Grant are eligible for student performance incentives, which reward them for maintaining good academic standing and completing their degree on time.
Students can renew their Frank O’Bannon Grant by submitting their Free Application for Federal Student Aid (FAFSA) by the deadline set by the Indiana Commission of Higher Education and enrolling in an eligible Indiana college or university, such as Indiana State University. The grant can be used for full-time or part-time study, depending on the student’s needs.
What Are Other Financial Aid Resources for Indiana Students?
Aside from the Frank O’Bannon Grant award, which is available to eligible students through FAFSA, there are other financial aid programs offered by the Indiana Commission for Higher Education.
These programs include the 21st Century Scholars program, which provides a full-tuition scholarship to students who meet specific income requirements and maintain good academic standing, and the Next Generation Hoosier Educators Scholarship, which provides up to $7,500 per year to students who commit to teaching in Indiana for five years after graduation.
Additionally, some institutions, such as Ivy Tech Community College and Indiana State University, offer student performance incentives for extra credits and transfer credits, as well as other forms of institutional aid.
Tips for Maximizing Your Frank O’Bannon Grant Award
To get the most out of your Frank O’Bannon Grant award, consider exploring different financial aid resources and creating a budget to manage your expenses. Here are some tips to help you maximize your award:
- First, be sure to complete the FAFSA and include your school code for Indiana State University. This will ensure that you receive the maximum amount of financial aid available to you.
- Second, maintain the required credit hours to remain eligible for the award for the rest of the school year.
- Finally, use the time award wisely by setting aside enough time to study and complete your coursework, as this can impact your ability to graduate high school and receive your school diploma.
Remember, the Frank O’Bannon Grant is a valuable resource for Indiana students, so take advantage of it and make the most of your college experience.
Frequently Asked Questions
Is there a limit to how many times a student can receive the Frank O’Bannon Grant?
Yes, there is a limit to how many times you can receive the Frank O’Bannon Grant. It is valid for eight semesters of full-time enrollment and must be used within eight years of initial application.
Can the Frank O’Bannon Grant be used for graduate studies?
Yes, you can use the Frank O’Bannon Grant for graduate studies. However, you must meet certain eligibility criteria and be enrolled in an eligible program at an approved institution. Check the state’s website for more information.
Is the Frank O’Bannon Grant available to out-of-state students?
Yes, the Frank O’Bannon Grant is available to out-of-state students who attend an eligible Indiana college or university. You may qualify for up to full tuition coverage based on need and academic performance.
Can the Frank O’Bannon Grant be used for study abroad programs?
Yes, you can use the Frank O’Bannon Grant for study abroad programs. However, ensure the program is affiliated with your Indiana college or university and meets the grant’s eligibility requirements.
Can the Frank O’Bannon Grant be used for room and board expenses?
No, the Frank O’Bannon Grant cannot be used for room and board expenses. It is restricted to tuition and regularly assessed fees only.
Now that you know the eligibility requirements and how to apply, you can start the process of receiving financial aid to help pay for your education.
The amount you receive from the grant can vary based on your financial need, but it can be a significant help towards tuition costs. It’s also important to know how to renew your grant each year and to explore other financial aid resources available to you.
By maximizing your Frank O’Bannon Grant award and taking advantage of other financial aid opportunities, you can better focus on your education and achieve your academic goals.
Good luck on your journey toward higher education!