by our College Data Analytics TeamMany students attending Franklin College can expect to receive financial assistance in various forms, such as scholarships, grants, loans, and work-study programs, making the cost of attendance more manageable.
However, some types of financial aid are definitely more desireable than others, and some students will receive more aid than others.Find out more by scrolling down the page.
Franklin College average financial aid offer for freshmen students is $24,987.00. A significant 100% of freshmen benefit from financial aid, with the main type being grants and scholarships.
Student loans come included in financial aid packages, however, the only true discount off of the price of college is a grant or scholarship that you do not need to pay back.
Worried about the student loans that might be part of a financing offer? View the average amount of debt per student at Franklin College.
Financial awards given by a college or university to its students, known as institutional scholarships and grants, help to offset the cost of tuition and other education-related expenses. These awards fall into two categories: merit-based and need-based, and they do not need to be paid back. Merit-based institutional scholarships are granted to students who have shown outstanding academic accomplishments, special talents, or abilities in a particular field. Factors such as high school performance, standardized test results, or involvement in extracurricular activities often contribute to these scholarship decisions. Conversely, need-based institutional grants cater to students who demonstrate financial need. The awarded amount is typically based on the student’s family’s financial standing and is intended to cover the difference between the cost of attendance and the family’s ability to contribute. Colleges and universities might use data from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms to determine a student’s eligibility for need-based grants. Institutional scholarships and grants are a vital source of financial support for students, as they can significantly reduce the cost of attending college and help make higher education more accessible.
The numbers listed below make reference to help that is offered by Franklin College.
100% of new students (270 total) were given scholarships at Franklin College, averaging $18,757.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 46% of first-year students (123 total) got a federal grant, for about $5,441.00 per person.
The following table shows scholarship and grant allocations by income for first-year students receiving any form of federal Title IV assistance, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 21.48% | $32,575.00 |
| Income 30k-48k | 13.33% | $33,189.00 |
| Income 48k-75k | 12.59% | $26,690.00 |
| Income 75k-110k | 12.96% | $20,742.00 |
| Income 110k + | 24.81% | $18,834.00 |
The table above shows undergrads who are getting Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
100% of the 270 undergraduates at Franklin College receive some sort of grant aid. This is a total of about 270 students getting an average of $24,987.00 per person.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.