One in three students at the Indiana's four-year public colleges and universities finish school within four years,
University presidents who testified Wednesday tried to prove to lawmakers that their school is working to reduce the cost of college.
Governor Mitch Daniels will speak at Indiana University's commencement in December before becoming president of Purdue University.
The average student in Indiana graduates with $27,500 of college debt, according to a report from the Project on Student Debt.
17 students received the scholarship last year. This year, there have been more than 200 applicants.
The state Department of Corrections is being forced to end its college degree programs because of budget cuts.
Frankfort High School Senior Elizabeth Olivas has been allowed back in the U.S. after problems with her visa application.
Indiana State University says if students follow the plan it sets out for them, they should be able to graduate in four years.
The Indiana Commission for Higher Education has laid plans to boost the percent of Hoosiers with a college degree.
Local schools are trying to fund programs that would reduce drop-out rates, but that funding can be hard to find.