Indiana has 45 private and 15 public 4-year colleges that enroll 47,447 first-year students yearly. The average tuition of public colleges is $19,589 for in-state students and $33,330 for out-of-state and international students.

Private colleges in Indiana charge around $30,958 per year in tuition regardless of residency.

In the 2021-2022 academic year, Indiana provided $82.3 million in financial aid to 12,445 students who enrolled in 4-year colleges for the first time as undergraduates. In addition, the colleges themselves awarded $400.9 million in grants and scholarships to 29,921 students.

Indiana receives 1.1% of the total pell grant the federal government allocates. In the 2021-2022 academic year, 14,187 4-year college first-year undergraduates were awarded a total amount of $67.4 million in pell grant ($4,461 per student on average), and 21,007 students received a total amount of $109 million in the form of student loans from the federal government ($5,523 per student on average).