Indiana Student Loans And Financial Aid Programs
Indiana has several private student loan and financial aid programs that can help you pay for college. If you're going to be attending college in Indiana, you need to be looking to take advantage of these programs.
These programs are designed to help make college more affordable - so that you can get the education you need. These programs can include scholarships, grants, and student loans.
Don't forget that there are Federal student loan programs available as well. You can find out more on how to get a Federal student loan here.
There is also a specific order of operations to pay for college that we recommend students follow. These programs specific to the State of Indiana can help you to avoid borrowing more money than you need to.
Indiana Student Loan Programs
Indiana doesn't have any unique student loan programs to help it's students pay for college. However, there are still Federal student loans available to students who attend college in Indiana.
If you're just looking for private student loan options, we recommend:
- Credible - Like the Kayak of student loans, they help you shop around and compare options. Try Credible here.
- College Ave - One of the best private student loan lenders. Get A Quote At College Ave Here.
Check out our complete guide to finding the best student loans here.
Indiana Scholarship Programs
Indiana has several scholarships available to students who want to attend school in the state.
21st Century Scholarship
The 21st Century Scholars is Indiana’s early college promise program. It offers income-eligible Indiana students up to four years of paid tuition at an eligible Indiana college or university after they graduate from high school.
Students enroll in seventh or eighth grade, and in high school they participate in the Scholar Success Program and are connected to programs and resources to help them prepare for college and career success. Once in college, Scholars receive support to complete their college degrees and connect to career opportunities.
Learn more about the 21st Century Scholars Program.
Mitch Daniels Early Graduation Scholarship
The Mitch Daniels Early Graduation Scholarship is a one-time, $4,000 scholarship for students who graduate at least one year early from a publicly supported Indiana high school. To claim this scholarship, students must enroll at an eligible Indiana institution no later than the fall semester in the academic year immediately following the year they graduate high school.
Learn more about the Mitch Daniels Early Graduation Scholarship.
Next Generation Hoosier Educators Scholarship
The Next Generation Hoosier Educators Scholarship provides 200 high-achieving high school and college students interested in pursuing a career in education the opportunity to earn a renewable scholarship of up to $7,500 a year for four academic years.
In exchange, students agree to teach for five years at an eligible Indiana school or repay the corresponding, prorated amount of the scholarship.
Learn more about the Next Generation Hoosier Educators Scholarship.
William A. Crawford Minority Teacher Scholarship
The William A. Crawford Minority Teacher Scholarship is available to minority students (defined as black and Hispanic individuals) who intend to pursue, or are currently pursuing, a course of study that would enable them to teach in an accredited school in Indiana.
Students must agree in writing to apply for teaching positions in Indiana and, if hired, teach in Indiana for at least three years.
Learn more about the William A. Crawford Minority Teacher Scholarship.
Indiana Grant Programs
Indiana also has a grant program to provide need based financial aid to Indiana residents.
Grants are one of the best forms of financial aid because, in most circumstances, you don't have to pay the money back.
Frank O'Bannon Grant
The Frank O’Bannon Grant, which includes the Higher Education Award and the Freedom of Choice Award, is Indiana’s primary need-based financial aid program. It is designed to provide access for Hoosier students to attend eligible public, private and proprietary colleges and universities. Eligibility is based on a student’s FAFSA, and the grant may be used toward tuition and regularly assessed fees
You can learn more about the Frank O'Bannon Grant.
The Adult Student Grant
The Adult Student Grant, part of the Indiana's You Can. Go Back. program, offers a renewable $2,000 grant to assist returning adult students in starting or completing an associate degree, bachelor’s degree or certificate. To qualify, students must be financially independent as determined by the FAFSA, demonstrate financial need and be enrolled in at least six credit hours.
You can learn more about the Adult Student Grant.
The Workforce Ready Grant
The Workforce Ready Grant, part of Indiana's Next Level Jobs initiative, pays tuition and regularly assessed fees for qualifying high-value certificates (in the fields of Advanced Manufacturing, Building & Construction, Health Sciences, Information Technology & Business Technology and Transportation & Logistics) at Ivy Tech Community College or Vincennes University. The grant is available for two years and covers up to the number of credits required by the qualifying program.
You can learn more about the Workforce Ready Grant.
If you already have student loans and are looking for options as a Indiana resident, check out our Indiana Student Loan Forgiveness Program page. That page has all the different options available to Indiana residents to potentially get some of your student loan debt forgiven.
You might also look at refinancing your student loans and saving money in interest while also potentially lowering your payment. Check out our guide on the Best Places To Refinance Your Student Loans.
If you're looking for ways to save for college in Indiana, check out the Indiana 529 Plan and College Savings Guide.
Finally, check out the other student loan and financial aid programs by state.
Reviewed by: Chris Muller