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.

Franklin College does not discriminate in its admissions and financial aid policies and practices on the basis of factors such as race, sex, sexual orientation, age, color, religion or regional origin.

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.

• The FAFSA: www.fafsa.ed.gov
• The Profile: www.profileonline.collegeboard.com

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.

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.

US Student Franklin College Financial Aid Guidelines and Application
International Student Franklin College Financial Aid Guidelines

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

US Federal Loan Programs available for Franklin Students

US citizens and permanent residents enrolling at Franklin College are eligible for the Federal Stafford Student Loan Program and the Parent Loan for Undergraduate Students (PLUS).
These loans must be applied for online on the Department of Educations Direct Loan website: www.studentloans.gov .

Federal Direct Stafford Loan Program

Federal Direct Stafford Loans are funded by the Department of Education. The maximum amounts available to undergraduates for Subsidized Stafford loans are US $3,500 for the freshman year, $4,500 for the sophomore year and $5,500 per year for the junior and senior years. All students are also 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).

Parent Loans for Undergraduate Students (PLUS)

PLUS loans are available to credit–worthy parents of financially dependent undergraduate students through the Department of Education’s Direct Loan Program. With a PLUS loan, parents may borrow up the full cost of  a student’s education including, tuition, room and board, books and supplies, transportation and living expenses, less any other financial aid that the student receives. PLUS loans are federal loans and the interest rates are set each year and guaranteed by the federal government.
Visit the following website for more information about the Federal Direct Loan program for students and parents: www.studentloans.gov .

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 with several State lending agencies or with Sallie Mae International: www.salliemae.com/international - tel. 1 877 456-6221

Other sources for general financial aid information:

International Educational Financial Aid

International Scholarships

The Financial Aid Guide

Access America for Students

Back to top