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Office of Financial Aid
Financial Aid

Federal and State Aid Programs

Federal Pell Grant

Eligibility: Awards are based solely on financial aid eligibility as determined by the FAFSA and the number of hours enrolled.
Amount: Award amounts of up to $5920 each year.

Pell-eligible students may choose to charge their books and supplies to their student account.

Frank O'Bannon Grant*, 21st Century Scholarship*

Eligibility:

  • You must show financial need according to program rules.
  • Your FAFSA must be received by the federal processor by April 15, and be error-free by May 15, each and every year.
  • Dependent students and their parents listed on the FAFSA must be domiciled in Indiana on December 31 of the calendar year immediately preceding the award year to receive the scholarship, and students must remain living in the state thereafter. The parents listed on the FAFSA do not need to remain living in Indiana. Once dependent students use a state financial aid award, they have established residency for state financial aid purposes. In subsequent award years, only the student's residency is considered for eligibility purposes. 
  • You must be an undergraduate working on an associate or first bachelor degree, maintain satisfactory academic progress, not be in default or overpayment, and meet the specific requirements of your chosen major.
  • All students must utilize state eligibility within 8 years after the first use. Eligible students are limited to 8 semesters of receiving the grant.
  • You must be full-time (12 or more credit hours per semester at census) and remain full-time through the first four weeks of classes or Butler's refund period, whichever is shorter, to qualify for the full amount of these grants. Changes in enrollment status during the first four weeks of classes may result in full cancellation of the state grants. Contact the Office of Financial Aid for term specific dates and before making changes to your enrollment status.

Amount: Tuition award amounts range from $650-$9,000 depending on financial need and the high school curriculum completed (Indiana Academic Honors diploma).

Beginning with the 2013-2014 academic year, students will be required to meet certain completion requirements to renew state financial aid awards.

Students receiving the Frank O'Bannon Grant or the 21st Century Scholars Award must complete at least 30 credit hours each year to remain eligible for the maximum state financial aid award.  Frank O'Bannon recipients who complete at least 24 credit hours each year will remain eligible for state financial aid, but will receive an amount that is less than a student who completes 30 credit hours.

For additional information about Indiana Grant Programs, including the Next Generation Hoosiers Educators Scholarship, visit the Indiana Commission for Higher Education website

Federal Direct Loan

The Direct Loan is a long-term, low interest student loan available in the form of a subsidized (need-based) and/or unsubsidized (not need-based) loan.

Amount: Annual grade level maximums for dependent students:
Freshman $5,500
Sophomore $6,500
Junior $7,500
Senior $7,500​

  • Repayment begins six months after graduating, leaving the university or enrolling less than half-time (six credit hours).
  • The fixed interest rate for the Federal Direct Subsidized and Unsubsidized Loans adjusts each year on July 1. Refer to studentloans.gov for updates. 
    • For Direct Loans disbursed between July 1, 2017 and June 30 2018, the interest rate is fixed at 4.45%.
    • For Direct Loans disbursed between July 1, 2016 and June 30 2017, the interest rate is fixed at 3.76%.

  • The origination fee for the Federal Direct Subsidized and Unsubsidized Loans adjusts each year on October 1. Refer to studentloans.gov for updates. 
    • For Direct Loans disbursed between October 1, 2017 and September 30, 2018, the origination fee is 1.066%.
    • For Direct Loans disbursed between October 1, 2016 and September 30, 2017, the origination fee is 1.069%.

  • Independent students (as determined by the FAFSA) may be eligible for additional Federal Direct Unsubsidized loans.
  • Students must be enrolled a minimum of six hours to be eligible for the Federal Direct Loan program.
  • Beginning July 1, 2013, the Department of Education has limited the length of time that new borrowers can receive Federal Direct Subsidized Loans.  The limit is 150% of the published length of your program.  

Federal Work Study*

Eligibility: On-campus student employment offered to students who have financial aid eligibility as determined by the FAFSA.

  • Average award equivalent to eight to twelve hours per week at minimum wage.
  • Award amount is not automatically deducted from the student's bill.
  • Students receive a paycheck for the hours worked every two weeks.
  • Students are required to pay taxes on earnings, however amount earned is not used against the student when determining financial aid eligibility in the following year.

*Available only to full-time undergraduate students pursuing their first bachelor's degree.