1. (a) This section applies to an academic year beginning after August 31, 2014. The commission shall publish annually a schedule of award amounts for the higher education award and freedom of choice grant issued under this article. The schedule must provide award amounts on the basis of the recipient's expected family contribution. The expected family contribution shall be derived from information submitted on the recipient's financial aid application form. The commission shall determine award amounts separately for:

   1. (1) recipients attending approved public state educational institutions (except Ivy Tech Community College);
   2. (2) Ivy Tech Community College;
   3. (3) recipients attending a nonprofit college or university listed in IC 21-7-13-6 (a)(1)(C); and
   4. (4) recipients attending approved postsecondary credit bearing proprietary institutions.

2. (b) This subsection expires June 30, 2017. The schedule of award amounts published under subsection (a) shall offer a larger award to a recipient who, as of the student's most recently concluded academic year, has successfully completed:

   1. (1) at least thirty (30) credit hours or the equivalent by the end of the student's first academic year;
   2. (2) at least sixty (60) credit hours or the equivalent by the end of the student's second academic year; or

   3. (3) at least ninety (90) credit hours or the equivalent by the end of the student's third academic year.

      A student's academic years used to determine if the student meets the requirements of this subdivision are not required to be successive calendar years.

3. (c) This subsection applies to an academic year beginning after August 31, 2017. The schedule of award amounts published under subsection (a) must offer a larger award to first time and prior recipients who successfully completed:

   1. (1) at least thirty (30) credit hours or the equivalent during the last academic year in which the student received state financial aid; or
   2. (2) at least thirty (30) credit hours or the equivalent during the last academic year in which the student was enrolled in a postsecondary educational institution.

4. (d) In determining eligibility under subsection (c), the commission shall apply all the following types of credits regardless of whether the credits were completed during the last academic year described in subsection (c)(1) or (c)(2):

   1. (1) Credits earned from dual credit, advanced placement, and international baccalaureate courses.
   2. (2) College credits earned during high school.
   3. (3) Credits earned exceeding thirty (30) credit hours during a previous academic year in which a student received state financial aid.
5. (e) The schedule of award amounts shall set forth an amount for recipients described in subsection (a)(1) that is equal to fifty percent (50%) of the amount for recipients described in subsection (a)(3).
6. (f) This subsection expires September 1, 2016. A student that initially enrolls in an eligible institution for an academic year beginning before September 1, 2013, is eligible for the larger award determined under subsection (b) regardless of the student's credit completion.

As added by P.L.281-2013, SEC.5. Amended by P.L.2-2014, SEC.91; P.L.165-2016, SEC.2.