Frank O'Bannon Grant amounts depend on three things: your Student Aid Index (SAI) from the FAFSA, the type of college you attend, and whether you stay on time with 30 credits a year. For 2026-27, the maximum is $10,600 at a private college, $5,300 at a public university and $4,050 at Ivy Tech or a proprietary school. By law, the public award is half the private one.
All figures are from the Indiana Commission for Higher Education's (CHE) 2026-2027 Frank O'Bannon Grant award table.
2026-27 on-time awards by SAI
| Student Aid Index | Private | Public | Ivy Tech or proprietary |
|---|---|---|---|
| -1,500 | $10,600 | $5,300 | $4,050 |
| -1,499 to -1,000 | $9,700 | $4,850 | $3,550 |
| -999 to -500 | $8,800 | $4,400 | $3,050 |
| -499 to 0 | $7,900 | $3,950 | $2,550 |
| 1 to 500 | $7,000 | $3,500 | $2,050 |
| 501 to 1,000 | $6,100 | $3,050 | $1,550 |
| 1,001 to 2,000 | $5,200 | $2,600 | $1,050 |
| 2,001 to 3,000 | $4,300 | $2,150 | $0 |
| 3,001 to 4,000 | $3,400 | $1,700 | $0 |
| 4,001 to 5,000 | $2,500 | $0 | $0 |
| 5,001 to 6,000 | $1,600 | $0 | $0 |
| 6,001 to 7,000 | $700 | $0 | $0 |
Source: Indiana Commission for Higher Education, 2026-2027 Frank O'Bannon Grant (base award).
2026-27 full-time (24-29 credits) awards by SAI
| Student Aid Index | Private | Public | Ivy Tech or proprietary |
|---|---|---|---|
| -1,500 | $7,700 | $3,850 | $2,900 |
| -1,499 to -1,000 | $6,800 | $3,400 | $2,400 |
| -999 to -500 | $5,900 | $2,950 | $1,900 |
| -499 to 0 | $5,000 | $2,500 | $1,400 |
| 1 to 500 | $4,100 | $2,050 | $900 |
| 501 to 1,000 | $3,200 | $1,600 | $400 |
| 1,001 to 2,000 | $2,300 | $1,150 | $0 |
| 2,001 to 3,000 | $1,400 | $700 | $0 |
| 3,001 to 4,000 | $500 | $0 | $0 |
| 4,001 and up | $0 | $0 | $0 |
Source: CHE, 2026-2027 Frank O'Bannon Grant.
The 30-credit rule
- First year: every recipient gets the on-time amount.
- To renew on-time: complete at least 30 credit hours during your 12-month award year.
- 24-29 credits: you get the smaller full-time amount.
- Extra hours roll forward, and AP, IB and dual-credit hours count toward the requirement.
At a public university with an SAI of -1,500, falling short costs $1,450 a year ($5,300 vs. $3,850).
Who's eligible
You must be an Indiana resident by Dec. 31 of the year before you apply, a U.S. citizen or eligible noncitizen, a high school graduate or GED holder, and enrolled full time at an eligible Indiana college toward an associate or first bachelor's degree (or a certificate at Ivy Tech or Vincennes). File the FAFSA by April 15 each year, and meet your college's academic progress rules. The grant pays tuition and regularly assessed fees.
What this means for you
- File the FAFSA by April 15, 2027. It's the only application.
- Take 15 credits a semester (or use summer) to stay on time; AP and dual credit help.
- Compare by sector: the O'Bannon award is twice as large at private colleges as at public ones.
- Also check 21st Century Scholars if you were enrolled in middle school.