Your success is our priority.
We are committed to keeping a Franklin College education affordable and last year we awarded over $29 million dollars in aid to students. We aim to educate the whole person and we recognize the investment families make for that distinctive value.
Let Us Help.
Our admissions and financial staff regularly meet with families, to answer questions, provide guidance and even walk students through filling out their FAFSA. We promise to help your family manage the financial aid process from beginning to end.
We strive to make the financial aid process simple and easy to navigate. It is important to note that financial aid comes from four main sources that work together and are often dependent on each other:
- Your family’s contribution
- State and federal governments.
- Private scholarships
- Franklin College and alumni
How to Apply
You can apply for Franklin College financial aid in five basic steps:
- Apply to Franklin College. Your application for admission doubles as your application for scholarships.
- Submit the FAFSA as early as possible. The FAFSA may now be filed starting October 1 prior to a student starting at Franklin. The sooner you file, the better chance you have of meeting federal, state and institutional priority deadlines for aid consideration. You will need to create a Federal Student Aid (FSA) user account.
- Submit all required additional forms. Upon filing your FAFSA, there may be additional paperwork required. We will notify you as to what documents are needed in order to finalize your financial aid package. Be diligent, be timely, be thorough and you will successfully secure your aid.
- Explore all possible aid options. We are here to assist you with all things financial aid related. This includes assistance with filing a FAFSA, student and parent loan counseling. Utilizing our staff not only saves you several hours of work, but also grants you the opportunity to build a strong relationship with professionals who are here to see you succeed.
- Stay connected. Throughout the financial aid process, we may reach out to you for assistance with finalizing your aid package, with completing federal forms to secure your funding, or with notification of a potential scholarship. It is vital you consistently check and respond to any email and voicemail communications from our office.
Dates and Deadlines
July 1 – application for admission and scholarships becomes available
Oct 1 – FAFSA becomes available
December 1 – Franklin College priority aid consideration deadline
April 15 – deadline to submit initial FAFSA
An Investment with Lifetime Returns
Your education is the only investment guaranteed to benefit you for your entire life! The high job and graduate school placement rates our grads experience set them apart and exceptionally prepares them for a lifetime of success. We know that:
- Higher education is still a good investment. The 2013 data confirm that Americans who borrowed to finance their educations are no worse off today than their counterparts were a generation ago, contrary to popular opinion. Given the rising returns to postsecondary education, they are typically better off, on average. (Brookings)
- The rapidly rising cost of college education is not as troubling as it may appear. While the price of higher education has increased, so has its value. Over the last 30 years the lifetime earnings associated with having a college degree have grown by 75%. Today’s students are paying more to go to college, but they are also getting more out of it. In this sense they’re getting a better deal. (Brookings)
- On average, the benefits of a four-year college degree are equivalent to an investment that returns 15.2% per year. This is more than double the average return to stock market investments since 1950, and more than five times the returns to corporate bonds, gold, long-term government bonds, or home ownership. From any investment perspective, college is a great deal. (Brookings/Forbes, 2011)
- College graduates will earn a million dollars more than those with only high school diplomas over their working lifetimes. (Georgetown University, AACU)
At Franklin, you will have the privilege of living and learning among bright, diverse and talented students, enjoying individual attention and collaboration with members of our faculty.
Financial Aid Myths
Myth: Scholarships are only for incoming freshmen with great financial need.
Truth: Actually, many aid opportunities are available for students throughout their entire academic career. In addition, scholarships vary in eligibility. Some are need-based, while others are determined based on academic merit or talent.
Myth: My family makes too much money to receive any financial aid.
Truth: The FAFSA does take into consideration a family’s financial need into account when determining aid eligibility with regards to federal and state aid programs. However, merit-based aid offered through our Office of Financial Aid is determined solely with regards to a student’s academic achievements.
Myth: The chances of receiving an outside scholarship is close to none – I’m competing against students from around the country. There’s no point in me applying.
Truth: Yes, scholarships can be offered on a national level; however, there are several scholarships offered at the state or even county levels. Local community foundations can play a vital role in assisting you with exploring scholarships offered by home-grown businesses, non-profit agencies, and even individual donors.
Myth: I don’t live at home anymore so I should be considered an independent student.
Truth: The FAFSA collects several pieces of information in order to determine your dependency status. Some of these include age, marital status, whether or not you have children, military or veteran status, etc. Simply not living at home with your parents does not automatically make you an independent student for financial aid purposes.
We would love to hear from you! If you have any questions, please call our office at (317) 738-8075 or email us.