1. (a) This section applies to the board of trustees of the following state educational institutions:

   1. (1) Ball State University.
   2. (2) Indiana University.
   3. (3) Indiana State University.
   4. (4) Purdue University.
   5. (5) University of Southern Indiana.

2. (b) The board of trustees of a state educational institution may award financial aid to students and groups of students out of the available resources of the state educational institution through:

   1. (1) scholarships;
   2. (2) fellowships;
   3. (3) loans; and

   4. (4) remissions of fees, tuition, charges, or other funds;

      on the basis of financial need, excellence of academic achievement or potential achievement, or any other basis that the board of trustees finds to be reasonably related to the educational purposes and objectives of the institution.

      [Pre-2007 Higher Education Recodification Citation: 20-12-1-2(a)(8) part.]

As added by P.L.2-2007, SEC.256.