by our College Data Analytics TeamFinancial aid in the form of loans, grants, work-study, and scholarships is one way colleges reduce the cost of attendance so most students can actually afford to attend.
Uncover the various financial aid options provided by Franklin University and determine which ones you may be eligible for by continuing your exploration.
Franklin University average financial aid offer for freshmen students is $17,789.00. About 95% of first year students receive financial aid, most of which is in the form of grants and scholarships.
Financial aid helps lower the cost, or the full retail price of the institution. But bear in mind that the only true college discount is scholarships & grants.
Student debt really should be considered to be an added expense and not as “aid” or a “discount”. Find more about student loan debt at Franklin University.
Colleges and universities offer institutional scholarships and grants as financial assistance to help students cover tuition fees and other educational costs. These awards, which do not require repayment, can be merit-based or need-based. Merit-based institutional scholarships recognize students who have exceptional academic records, special talents, or skills in particular areas. Eligibility for these scholarships often depends on factors such as a student’s high school performance, standardized test scores, or involvement in extracurricular activities. In contrast, need-based institutional grants are designed for students who show financial need. The amount awarded usually depends on the student’s family’s financial condition and aims.
The following numbers apply to scholarships and grants largely offered by the school itself.
87% of incoming freshmen (278 total) were awarded scholarships at Franklin University, averaging $15,003.00 a piece. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 44% of freshmen (140 total) received a federal grant, for about $4,775.00 a person.
The table below demonstrates scholarship and grant allocations by income level for freshmen receiving any type of federal Title IV assistance, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 17.92% | $17,429.00 |
| Income 30k-48k | 10.38% | $21,797.00 |
| Income 48k-75k | 17.61% | $16,697.00 |
| Income 75k-110k | 16.35% | $13,591.00 |
| Income 110k + | 15.72% | $16,102.00 |
The table above shows students who are obtaining Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
95% of the 318 undergraduates at Franklin University receive some sort of grant aid. This is a total of about 287 students getting an average of $17,789.00 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.