IU Indy Honors

Hi everyone! I’d really appreciate some insight because I’m a bit confused about how this works 😅

I was recently admitted to the IU Indianapolis Honors College and selected as a semi-finalist for the Plater International Scholars Program.

In the email, they stated:
“All semi-finalists will receive the IU Indianapolis Honors College Chancellor’s Scholarship if not chosen for the Bepko Scholars and Fellows Program or Plater International Scholars Program.”

From what I understand, for international students:

• Plater = about $12k/year
• Chancellor = about $19k/year

My question is: Why is the “higher-tier” scholarship (Plater) worth less financially than the Chancellor’s Scholarship?

Is it mainly about prestige, smaller cohort, or additional opportunities rather than the actual money?

I’m really grateful for the opportunity either way, just trying to understand how to think about this properly. Thank you so much in advance :)