INDIANAPOLIS, Ind. (WOWO): The application process for the state Charter School Grant and Loan Program has got the final board approval.

The State Board of Education voted Wednesday to approve a new $10 million charter schools grant program, on top of a proposal to delay new A-F performance grades to schools for a year. Governor Mike Pence said, “Public charter schools are critical to expanding public school options for Hoosier families in areas where choices are needed most, and I am pleased that the grants I signed into law earlier this year will help to make funding for all students more equitable.”

The State Board of Education will award grants in two-payments to eligible charter schools, totaling $500 per eligible student. The first $250 per student grant will be made immediately based on projected enrollment for the upcoming school year. The other $250 payment will be made after the official fall enrollment (ADM) count and adjusted to reflect actual student enrollment numbers.

It is projected that a total of $10.75 million will be awarded to public charter schools this fall. You can see grant estimates per school by clicking here.  

The State Board of Education must receive loan applications by October 15, 2015.