Students can avail of scholarships provided by the university, such as Choose Ohio First Scholarship Program, Dr. Allen Smith Memorial Scholarship, Education Foundation Scholarship, and Educational Assistance Commitment Grant, if they find educational expenses to be on the higher side. Notably, 96% of the students at Franklin University get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $21,963,780. More information regarding the financial assistance schemes can be accessed on FU’s official financial aid page at http://www.franklin.edu/financial-aid/. The total percentage of candidates applying to Franklin University who receive the Federal Grant is 54%. Meanwhile, 95% of the applicants receive the Student Grant and 94% are awarded the Institution Grant, while 51% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $3,061, and the same stands at $2,521 for State Grant awardees and $12,597 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $688. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $6,191 per year. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Candidates are also required to repay these loans within a given period. Every year, around 77% of the applicants to Franklin University opt for student loans.