by our College Data Analytics TeamOn this page you'll get a better understanding of what college costs you'll actually have to pay out of pocket, which can vary widely based on where you live and your income level.
Few students will pay the full advertised sticker price of Franklin University. The Net Price is an estimate of how much the average student actually pays to attend college for one year.
To calculate this number we take the total cost of attendance of Franklin University including tuition, fees, room, board and other expenses. Then we subtract out the average amount of aid awarded per student.
The average student will pay a total net price of $22,877.
$22,877 is the average net price across all students. Your price may differ depending on your family income level.
The average net price of $22,877 is based on estimates from 2020. This number represents the overall average net price of all undergraduate students, including those that did not receive any financial aid.
Grant and scholarship aid was given to 95% of freshman students.
The average amount awarded was $15,202.
When subtracted from the total cost to attend Franklin University and live off campus, the average annual net price for freshmen receiving aid was $15,111.
The following table explores the likelihood that you too will receive some common price-reducing aid, based on percentages.
| Net Price by Aid Group | On Campus | Off Campus | At Home |
|---|---|---|---|
| 177 Total Freshmen | |||
| 8 (5%) did not receive any grants or scholarships. | N/A | $30,313 | $16,381 |
| 169 (95%) split a total of $2,569,138 for an average of $15,202 each | N/A | $15,111 | $1,179 |
The above refers to grants and scholarships from the college and/or the state, federal or local governments. Other sources of grant aid such as private scholarships are not included.
Family income can have a large impact on the amount of aid you receive, and thus, your net price.
The table below shows the average net price freshmen paid based on income level. Note that if the school offers in-state tuition, the lower in-state tuition has been used in the calculation.
| Net Price by Family Income Level | Net Price |
|---|---|
| 0-30k | $11,328 |
| 30k-48k | $11,992 |
| 48k-75k | $11,869 |
| 75k-110k | $15,537 |
| 110k + | $15,695 |
The above table only includes the calculated net price for students that received some form of Title IV aid.
Title IV of the Higher Education Act of 1965 establishes general rules that apply to the student financial assistance programs covering grants and loans.
Over a period of six years, the average net price paid by all freshmen at Franklin University has increased by an average of 2.6% per year.
An overall average net price of $15,111 puts Franklin University below the national average of $20,398.
Many schools offer more aid to first year students (freshmen) than they do to other undergraduates. Is that the case with this school?
