Indiana Code Title 21. Higher Education § 21-16-4-11

Sec. 11. Funds received under the loan program shall be deposited with the treasurer of state in a separate account known as the “student loan program fund”.  The money remaining in the student loan program fund at the end of a state fiscal year does not revert to the state general fund but remains available to be used for providing student loans under this chapter.  After consultation with the program director of the loan program, the treasurer of state shall invest the funds.  The income earned on the invested amount is part of the fund.