INDIANA – More than eight in ten (83%) Hoosiers say they value education beyond high school, but many are hesitant to pursue it, fearing they will accumulate too much student loan debt. Recent challenges with the national filing process for the Free Application for Federal Student Aid (FAFSA) have created even more confusion.
Fortunately, Hoosiers have a free, expert resource to help them understand how to file the FAFSA and understand all the options available to secure scholarships and other state-based assistance. INvestEd wants more Hoosiers to know that completing the FAFSA is the key to accessing nearly all forms of financial aid, and Indiana is one of the leading states (third in the Midwest and eighth in the nation) in awarding need-based financial aid to students.
Recent projections show Indiana’s labor force reaching a record 3.4 million by the end of 2025. So, it’s more critical than ever to help Hoosiers choose to pursue education and training beyond high school.
Some key findings from the new survey commissioned by INvestEd include:
- 33% of Hoosiers with student loan debt are unaware of the federal student loan income-based repayment plans available to help them.
- 60% of Hoosiers are unaware of the important Frank O’Bannon Grant.
- 85% of Hoosiers say it’s important that Indiana’s colleges and universities offer innovative programs to help students pay for college, acquire skills, and find meaningful employment.
- 74% of Hoosiers are concerned about student loan debt stifling economic growth, working skillin,g and talent retention in Indiana.
