We utilize the Free Application for Federal Student Aid (FAFSA) to award all federal, state and need-based institutional aid programs. The FAFSA must be filed every year to qualify for financial assistance.
It is available for completion after October 1 and must be completed each academic year.
Indiana residents must complete the FAFSA by April 15 to be evaluated for state grant aid.
- New FAFSA filers: start by creating a Federal Student Aid (FSA) account.
- File your FAFSA. The Franklin College institutional code is 001798.
- Check your email regularly. Once you receive notice that your Student Aid Report (SAR) is available from the federal processor, adjust figures you estimated, review all information to insure it is correct and make sure Franklin College is listed.One in every three applicants is chosen for financial aid verification by the federal processor – if this happens, nothing is wrong! Someone from our office will be in touch to ask for some additional information.
How You Receive Your Financial Aid
- We will package aid for new students starting December 1 and directions on how to access the Franklin College Online Financial Aid System will be sent via U.S. mail based on receipt of FAFSA information and admission to Franklin. Returning students can expect aid information to be available starting in April.
- Students must report external scholarships, grants or loans to the office of financial aid using the external scholarship notification
- First time borrowers must complete the Federal Direct Loans and Entrance Counseling and Master Promissory Note (MPN).
- Admitted students must pay an enrollment deposit by May 1 to secure their financial aid and place in the incoming class. If a deposit is not paid by May 1, aid is not guaranteed.
Financial Aid Forms
Downloadable forms are available through the Online Financial Aid System. Here are some frequently used forms:
Other Items of Note
- All aid is granted on an academic year basis. All scholarships/grants are renewable for a total of eight semesters of full time undergraduate enrollment only.
- The office of financial aid reserves the right to revoke any aid offer if there is any evidence that the conditions of enrollment status, financial need, or merit are not met.
- To continue to receive federal and state aid you must maintain Satisfactory Academic Progress (SAP) and program pursuit requirements. Scholarship recipients are required to maintain the academic requirements as specified for each particular award. SAP Policy (PDF)
- Financial aid awards, including loans, are disbursed to your student account on a semester basis.
- Federal Work-Study is paid directly to you on a monthly basis for the amount of hours worked the previous month. Paychecks are to be picked-up in the Franklin College business office unless other arrangements have been made. This funding is NOT credited directly to your student billing account. If you wish to apply the funds to your student account it is your responsibility to do so.
- Stay closely connected to us. When it comes to aid, dates and deadlines are important! Don’t miss out on any awards by overlooking a timeline.