Except as provided by federal law, 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) the individual is not required to report the award as income or as a resource of the individual when applying for assistance administered 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 administered under this article.

   [Pre-1992 Revision Citation: 12-1-2-19.]

As added by P.L.2-1992, SEC.7. Amended by P.L.2-2007, SEC.157.