Financial Aid
Financial Aid
Financial Assistance
Financial Aid Franklin College recognizes the importance of financial aid programs to students with demonstrated need. Financial need is defined as the difference between the family’s or student’s available resources and the cost of attending Franklin College. It is expected that the student and his/her parents will contribute to the fullest possible extent, so that the College’s limited financial aid funds can be shared most equitably among the greatest number of qualifying students. US Students To estimate a fair contribution from the family, Franklin College uses either the Student Aid Report (SAR) provided by the Department of Education’s Student Financial Assistance programs on the basis of the Free Application for Federal Student Aid (FAFSA) form, or the Financial Need Analysis Report on the basis of the Profile provided by the College Scholarship Service (CSS). These forms must be completed online at the following websites. Please note that the Franklin College Department of Education Code is G11683. International (Non-US) Students Non-US students must submit the International Student Financial Aid form with the Certification of Finances directly to Franklin College. This form may be obtained from a secondary school guidance office a college financial aid office, or can be printed from the link below. Financial aid applications for all students must be submitted by February 15. Contact information: For US-based families:
Franklin College
US Admissions Office
91-31 Queens Boulevard, Suite 411
Elmhurst, NY 11373
USA | For families outside the US:
Franklin College
Admissions Office
via Ponte Tresa 29
6924 Sorengo
Switzerland |
Guidelines and Applications The following will be useful when applying for financial aid from Franklin College. Further financial aid information may be obtained either from the Admissions Office on campus or in New York. US applicants should be aware that some government student assistance programs are not available outside the United States. Notification of financial aid awards is mailed to applicants beginning the first week in March of each year. Early Action Applicants First-year applicants for financial aid applying as Early Decision candidates should request a Financial Aid Form from the Office of Admissions. The FAFSA should be submitted in early January. Financial Aid Renewal Students must reapply for financial aid each year. Financial assistance will be reconfirmed if continuing need is demonstrated, the student maintains a minimum GPA of 2.5 and the student is in good social standing with no disciplinary infractions. Back to top Financial Assistance Stafford Student Loan Program US citizens and permanent residents enrolling at Franklin College are eligible for the Federal Stafford Student Loan Program, obtainable either through local lenders, credit unions, state educational lending agencies or other private organizations. The maximum amounts available to undergraduates for Subsidized Stafford loans are US $3,500 for the freshman year, US $4,500 for the sophomore year and $5,500 per year for the junior and senior years. As of the 2008-2009 academic year, all students are eligible to receive an additional $2,000 as an unsubsidized Stafford. Students applying for Stafford Loans are required to submit the Free Application for Federal Student Aid (FAFSA). Franklin College works closely with several US loan companies to process many student loans. The loan companies most frequently used by Franklin families are listed below. Further information regarding student loan programs can be obtained from their individual websites. Parent Loans for Undergraduate Students (PLUS) PLUS loans are available to parents of financially dependent undergraduate students through local lenders, credit unions and loan companies specializing in educational loans. PLUS loans are federal loans and the interest rates are set and guaranteed by the federal government. Each year a parent may borrow a maximum of the difference in the cost of attendance minus any merit and financial aid awards. Further information regarding PLUS loans can be obtained from the loan websites listed below. Private Educational Loans Private educational loans are available to students who are US citizens and permanent residents. A student may borrow up to the balance of the cost of attendance, minus any merit and financial aid awards. Private loans are in the student’s name however the student must have a qualified co-signer. Students can apply for the private educational loans online from the loan companies indicated below. Student Educational Loan Institutions: Sallie Mae International: www.salliemae.com/international - tel. 1 877 456-6221
Federal Stafford and PLUS loans; Private student loans International Education Finance Corporation, IEFC: www.iefc.com - tel. 1 888 296-4332
Federal Stafford and PLUS loans; Private student loans American Student Assistance, AMSA: www.amsa.com – tel. 1 800 999-9080
Federal Stafford and PLUS loans Nellie Mae: www.nelliemae.com - tel. 1-800-367-8848
Federal Stafford and PLUS loans; Private student loans Other sources for loans and general financial aid information: National Association of Student Financial Aid Administrators International Educational Financial Aid International Scholarships International Student Loans The Financial Aid Guide Financial Aid Resource Center Access America for Students Student Employment Program Though Franklin College is not eligible for US Federal work-study programs, the College offers on-campus employment opportunities. While all enrolled students are eligible, priority is given to those students receiving financial aid. All interested students must apply and interview for all campus jobs at the Office of Student Affairs. They are then referred to the appropriate job supervisor for final selection. If you would like additional information regarding this program, please contact the Office of Admissions. Back to top
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