Available Financial Aid Programs

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

To be considered for a Federal Pell Grant, the student must complete and submit the Free Application for Federal Student Aid (FAFSA).  The amount of this award is dependent upon the student’s enrollment level (full-time versus part-time) and financial need as determined by the federal government.  Continued eligibility is assessed annually upon the student’s yearly submission of the FAFSA.

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.  This grant may be renewable each year based upon the student’s FAFSA results and the availability of federal funds.

Twenty-First Century Scholars

Eligible 21^st Century Scholars who have met the financial means test and have completed the Scholar Success Program may be eligible for this award.  Please see www.scholars.in.gov for Indiana’s enrollment requirements.  Scholars must complete the Free Application for Federal Student Aid (FAFSA) no later than April 15 each year. 21^st Century Scholars can also access academic support services through the Center for Student Success. 

Franklin College offers a limited number of Pell Grant eligible 21^st Century Scholars with a 3.0 cumulative GPA to receive up to full tuition and room and board through a combination of all state, federal, and college aid sources (this may include federal student loans and work-study awards).

Frank O’Bannon Grant

Eligible Indiana residents who have demonstrated financial need as determined by the FAFSA may qualify for this Grant.  The range of this award varies and may be renewable based on students’ annual submissions of the FAFSA.  The Indiana Commission for Higher Education FAFSA submission deadline is April 15.  This award is restricted to be used toward the cost of tuition only.