The U.S. government offers various need-based aid awards – Franklin College participates in the majority of them. Our Office of Financial Aid administers approximately $26 million in aid from federal, state, institutional and outside sources to approximately 1,000 students annually. Our staff is available to answer your questions regarding financial aid programs, and assist you in completing financial aid forms.
Students interested in applying for financial aid at Franklin College should complete the Free Application for Federal Student Aid (FAFSA). The Franklin College priority deadline for filing the FAFSA is April 15. (Franklin’s Title IV code is 001798.)
Here is a list of options:
Federal Pell Grant
Matriculated students enrolled for at least one credit hour per semester and who have filed their FAFSA are eligible for the Pell Grant. Aid eligibility is determined by family income, assets, family size and the number of post-high school students in the family. Pell Grants range from $606- $5,920 per year for full-time students (enrolled in 12 or more credit hours per semester). These awards are reduced for part-time students (enrolled between 1 and 11 credit hours). When a student submits his/her FAFSA annually in April, he/she is automatically considered for this grant. This grant is renewable each year based upon the student’s FAFSA results.
Federal Supplemental Educational Grant (SEOG)
Students with great financial need and who have filed their FAFSA may be awarded an SEOG in addition to their Pell Grant. The actual award amount depends on need and the availability of federal funds. When a student submits his/her FAFSA annually in April, he/she is automatically considered for this grant. This grant is renewable each year based upon the student’s FAFSA results.
Twenty-First Century Scholars
The estimated 2017-2018 Twenty-First Century Scholar state grant award amount for a private institution is $8,014 for those who have met the financial means test and have completed the Scholar Success Program. Please see www.scholars.in.gov for those requirements. Twenty-First Century Scholars must complete the Free Application for Federal Student Aid (FAFSA) form no later than April 15.
Franklin College will guarantee full tuition (through a combination of state, federal and Franklin College grants/scholarships) for a limited number of Pell-eligible Twenty-First Century Scholar with a minimum high school GPA of 3.0 on a 4.0.
For those scholars who do not meet the criteria of being Pell-eligible and having the 3.0+ GPA, but are otherwise eligible for the 21st Century Scholars award, Franklin College will guarantee half-tuition is covered (through a combination of state, federal and Franklin College grants/scholarships).
Indiana Freedom of Choice Award
Awarded to Indiana residents who attend a private institution. The student must have financial need, as determined by the FAFSA. The range of this award varies. This award is renewable each year based on FAFSA results received by the State Student Aid Commission of Indiana by April 15. This award is restricted to be used toward the cost of tuition only.
We would love to hear from you! If you have any questions, please call our office at (317) 738-8075 or email us.