The number of diverse Hoosier students who graduate from high school increased over the past 10 years but there are still equity gaps among students who are prepared to succeed in college.

The Indiana Commission for Higher Education said college-going rates in Indiana are at their lowest point in recent history at just 59 percent.

The application is used to determine federal financial aid, but the state also uses FAFSA for consideration of several aid programs.

According to the Indiana Commission for Higher Education's 2020 College Equity Report, college-going rates are down overall with persisting gaps among student groups for college enrollment and completion.

Traditional public school corporations, public charter schools, accredited non-public schools, higher education institutions and other education-related entities are eligible to apply for the funding.

A memo from State Budget Director Zac Jackson this week proposed a 7 percent reduction in the states $1.7 billion in 2020-21 funding to the seven public college systems in Indiana.

According to the Commission for Higher Education's annual College Readiness Report, only 61 percent of Hoosier high school graduates enrolled in college in 2018, compared to 65 percent in 2015.

There is not a new official filing deadline; instead, financial awards will be offered on a first-come, first-served basis.

The state deadline to file the Free Application for Federal Student Aid is less than a week away, and the state is hosting a virtual event Monday night to offer support for students who still need to file while stuck at home.

The student member will be a full voting member of the 14-member commission that coordinates the state's public postsecondary education system.