According to Goshen College institutional research, 99.6% of students receive financial aid with an average package of nearly $29,000.The Indiana State Budget Committee recently approved an additional request from the Indiana Commission of Higher Education (ICHE) for the largest increase in state grant funding since 2008.
“We are thrilled to see that the [ICHE] is increasing the Frank O’Bannon Grant for the 2023-24 school year,” said Matt Wimmer, assistant director of financial aid.
The Frank O’ Bannon/Freedom of Choice Grant will become available to students who complete their FAFSA by April 15, hold a GED or high school diploma, are U.S. citizens or eligible non-citizens and have an estimated family contribution of $8,500 or less.
“This grant allows students from Indiana and from families with a low [Expected Family Contribution] to receive thousands of dollars towards their education to make college more affordable,” Wimmer said.
Students eligible for this grant can receive up to $12,400 towards their education, roughly 50% of one full-tuition semester at GC, including room and board.
“Since Goshen College is a private institution, we don’t receive the same federal and state grants that public institutions receive, and because of this, students receive more funds from this grant when they attend a private institution,” Wimmer said.
“It’s a win for Goshen College because it helps us bridge the out-of-pocket cost gap between ourselves and public institutions.”
This grant comes in addition to GC’s All IN tuition promise announced in February 2022. This initiative aims to offer new, income-eligible students enough financial aid to cover their tuition.