- Presidents Circle Laurel Pin (2022)
- Bicentennial Medal (2021)
- Z.G. Clevenger Award (2016)
Terry Tallen was co-captain and starting middle linebacker for the 1979 Holiday Bowl Champion Football Team. Terry has enjoyed a successful career as an investor and real estate developer in Northern California. Still active on the Bloomington campus, Terry is a longstanding advisory board member and guest lecturer at the Kelley School of Business. He is the benefactor of the Terry Tallen Football Leadership Scholarship, awarded annually to a football team captain enrolled in the Kelley School, and is the benefactor of the Terry Tallen Indiana Football Complex.
Terry has received numerous accolades and awards including being elected football team co-captain on the 1979 Holiday Bowl Championship Team, and serving as elected football team co-captain in 1980. Terry was a three-year letterman from 1978-1980, and in October of 1980 was honored with the United Press International's Defensive Player of the Week award, for IU's 24-0 homecoming victory over Wisconsin. Terry is co-president of the Holiday Bowl Scholarship Fund, and the Father Higgins Scholarship Fund. In 2020, Terry was awarded into the Presidents Circle, and in 2021 received the university's Bicentennial Medal, in honor and recognition of his distinguished service and dedication to the university.