Fort Wayne, Ind. – Indiana Tech announced plans on Wednesday to provide about $500,000 in institutional aid to assist students affected by recent cuts in state grants.
In formulating student financial aid packages, the university had estimated a 10 percent reduction in grants from the State Student Assistance Commission of Indiana (SSACI). On Friday, SSACI voted to reduce the maximum grant by 31 percent, creating a significant shortfall in students’ financial aid.
“This comes just weeks before students are scheduled to arrive on campus,” said Dr. Arthur E. Snyder, president of Indiana Tech. “Our students and their families should not have to shoulder this burden at this late date.”
About 270 to 300 students in Indiana Tech’s traditional program are affected by the cuts in SSACI grants. The university will provide institutional aid for the difference between each student’s estimated grant and their actual grants. The amounts range from $400 to $6,000, with the average student facing a shortfall of about $1,600 to $1,800.
“We’ve greatly increased our enrollment of students from within the state, and we’re committed to helping them attain a college education,” Snyder said. “We will dig deeper into our institutional aid funds to help them through this.”
SSACI grants are awarded to Indiana residents who enroll at eligible in-state colleges and universities. The amount of aid is calculated based on need and academics, with students who earn a Core 40 or Academic Honors diploma eligible for more aid than a student with a regular high school diploma.
Indiana Tech will cover the shortfall in SSACI grants for all new and returning students in the university’s traditional program, including students who have not yet applied for admission.