$4,433

Avg. Federal Grant

$5,301

Avg. Federal Loan

$19,791,383

Total Aid Awarded

Franklin College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

98%

Total Aid Amount Average Total Aid Awarded per year.

$19.791M

Financial Aid Official Website

www.franklincollege.edu/admissions/financial-aid/

Notably, almost all of the college students get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $4,367,420. For additional information about financial assistance schemes, one can head over to FC’s financial aid page at http://www.franklincollege.edu/admissions/financial-aid/. Notably, a total of 43% of the applicants to Franklin College receive the Federal Grant every year. On the other hand, 100% of the candidates get the Student Grant, 100% receive the Institution Grant, and 43% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,748, while the same comes to $7,539 for State Grant receivers and $16,784 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,356. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Students whose family income per annum is less than $30,000 will receive a federal aid of $28,079 on average in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $27,088, while those falling in the $48,001-$75,000 income category get $22,329 a year. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $18,446. And, for those with a family income of more than $110,000, the amount stands at $15,056. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Candidates are also required to repay these loans within a given period. At FC, an estimated number of 77% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

41%

State Grant Aid

46%

Institution Grant Aid

100%

Pell Grant

40%

Average Aid Awarded

Federal Grant Aid

$4,433

State Grant Aid

$6,955

Institution Grant Aid

$16,053

Pell Grant

$4,148

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$26,214

$30,001 - $48,000

$27,147

$48,001 - $75,000

$22,260

$75,001 - $110,000

$19,339

Over $110,000

$16,372

Student Loans for Franklin College

Average Loan Amount Average Loan Amount received per year.

$7,173/Year

Students Taking Out Loans

75%

Loan Default Rate

5.2%

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