$3,774

Avg. Federal Grant

$5,542

Avg. Federal Loan

$224,445

Total Aid Awarded

Franklin Academy Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

86%

Total Aid Amount Average Total Aid Awarded per year.

$224.445K

Financial Aid Official Website

www.franklinacademy.edu

As many as 85% of the students at FA get some sort of financial aid, and the total amount of assistance/loans provided is more than $547,307 in a year. At FA, the total percentage of applicants who receive the Federal Grant stands at 71%. On the other hand, 71% of the candidates get the Student Grant, while 71% receive the Pell Grant. And, for the Pell Grant awardees, the average aid amount is $3,674. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At FA, an estimated number of 71% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

90%

State Grant Aid

7%

Institution Grant Aid

N/A

Pell Grant

90%

Average Aid Awarded

Federal Grant Aid

$3,774

State Grant Aid

$5,000

Institution Grant Aid

N/A

Pell Grant

$3,774

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$4,793

$30,001 - $48,000

$3,960

$48,001 - $75,000

N/A

$75,001 - $110,000

N/A

Over $110,000

N/A

Student Loans for Franklin Academy

Average Loan Amount Average Loan Amount received per year.

$5,542/Year

Students Taking Out Loans

93%

Loan Default Rate

26.1%

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