I assume (ONLY an assumption) that IU has some unpublished test score and GPA combination, where if you meet the combination you are automatically admitted without considering any other criteria (in-state vs OOS, essays, extra-curriculars). So by “borderline” I meant someone who is very close to that unpublished test score and GPA combination for automatic admission. The criteria for direct admission to the Kelley School of Business is public knowledge (see site below), but the criteria to IU Bloomington overall is not.
http://kelley.iu.edu/Ugrad/Admissions/Future/page39066.html
You can find more info on scholarships at this site:
http://scholarships.indiana.edu/scholarships/instate-freshman.php
I believe in general, OOS students would get bigger scholarships than in-state, to lure them away from their own State University. The key for any merit scholarships is to make sure your application is submitted and complete by Nov. 1. I don’t have any input on need-based financial aid.