1. (a) As used in this section, "FAFSA" refers to the Free Application for Federal Student Aid.

2. (b) The commission shall prepare a model notice for schools that includes the following information for parents and students:

   1. (1) A statement regarding the existence and availability of the FAFSA.
   2. (2) A description that provides parents and students with an understanding of the process for and benefits of completing a FAFSA.
   3. (3) The approximate annual tuition costs of each state educational institution in Indiana.
   4. (4) The state scholarships, grants, or other assistance available to students in Indiana.

3. (c) The commission shall annually update the model notice to:

   1. (1) reflect any changes to the approximate annual tuition costs of each state educational institution; and
   2. (2) amend any of the information in the model notice, as determined necessary by the commission.
4. (d) The commission shall post the model notice prepared under subsection (b) on the commission's Internet web site.

As added by P.L.287-2019, SEC.16.