If an individual receives a state or federal higher education award that is paid directly to an approved postsecondary educational institution for that individual's benefit:

1. (1) that individual is not required to report that award as income or as a resource of that individual when applying for assistance provided under this chapter; and

2. (2) the award may not be considered as income or a resource of the individual in determining initial or continuing eligibility for assistance under this chapter.

   [Pre-1992 Revision Citation: 4-28-15-9.]

As added by P.L.2-1992, SEC.4. Amended by P.L.2-2007, SEC.154.