Financial Aid
Welcome to Franklin University's Financial Aid Information Pages
Our mission, in support of Franklin University's student-centered approach, is to provide students with options for meeting their educational expenses. These options include utilizing eligible federal, state, local and institutional resources while maintaining a focus on minimizing debt.
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Re-Apply for Financial Aid Now!
2008 - 2009 Newsflash |
STEP 1: Apply for Admissions and declare your degree
STEP 2: File the 2008-2009 FAFSA (Free Application for Federal Student Aid):
- use 2007 financial information
- Franklin's school code for Step Six on the FAFSA is: 003046
- Priority Process deadlines for 2008-2009 are:
- Summer 2008 - March 15, 2008
- Fall 2008 - June 15, 2008
- Winter 2009 - October 15, 2008
However, with classes starting every 3 weeks, you can complete your FAFSA at anytime during the term. By meeting the priority processing deadline, your application will be considered for campus-based aid and you may qualify for a waiver of finance fees assessed by the Business Office. Don’t forget to sign your FAFSA using your PIN number. If you are a dependent student, your parent(s) must also have a PIN.
- Don't forget to sign your FAFSA using your PIN number. If you are a dependent student, your parent(s) must also sign the FAFSA using their own PIN number.
- Submit your application by selecting the "Submit My FAFSA Now" button.
STEP 3: Declaration of Outside Tuition Assistance - complete this form if you will receive tuition assistance from sources other than financial aid.
STEP 4: Apply for Scholarships
STEP 5: Contact Financial Aid at finaid@franklin.edu to assure your aid is processed properly if you are graduating Summer 2008 or Fall 2008 or if you will not be attending all three terms (Summer 08; Fall 08; Winter 09).
What to do Next! Steps to Processing and Receiving Aid
1) Receive and review the results of your FAFSA
After filing the FAFSA, the Department of Education’s Central Processor will send an e-mail (usually within 2 weeks) notifying you that your Student Aid Report (SAR) is available for your review on the FAFSA Web site or will mail you a paper SAR.
Review your SAR for accuracy, using your FAFSA Pin Number. Carefully correct anything that may have been misreported. If corrections are necessary, correct your signed SAR and send it to the Central Processor. Please contact FAFSA customer service at 1.800.433.3243 if you do not receive a SAR notification.
2) Verification - DO NOT submit documents unless requested by Franklin's Financial Aid office
If you are selected for verification, you will be sent a letter from Franklin requesting additional documentation. Financial aid processing can only continue once you have completed all paperwork, so please submit any requested documents quickly. Forms are available below under the section titled ‘Applying for Financial Aid’, Forms/Applications.
New requests for information or documentation may arise throughout the year, so it is important to respond to any request for information.
3) Receive your Award Letter
Once all requested documents have been received, the Financial Aid office will process your file in dated order as received. Processing time can vary depending on the time of the year. In general, our goal is to process files within 15 business days of receiving all required documents. If you were selected for verification, the process may take a little longer.
Students will be notified by Award Letter of their aid eligibility. The Award Letter will include your financial aid eligibility for the intended hours of enrollment indicated on your FAFSA, your financial aid Standards of Progress status, and award code explanations. If you are eligible for loans, it will also include a link to the Master Promissory Note. Please read your Award Letter carefully and thoroughly and view the Terms of Award available on our Web site.
NOTE: if your enrollment hours change, your eligibility for programs and/or aid amounts may also change. See Financial Aid Programs for program eligibility requirements.
4) Accept or Decline Awards
Grants are automatically accepted on your behalf.
IMPORTANT NOTE: Loans will not be processed until the Award Letter is signed and returned to Financial Aid. If you are a first-time borrower of federal student loans, or a first time borrower at Franklin University, there are two federal requirements you must complete:
1) Student Loan Entrance Counseling and
2) Master Promissory Note (MPN)
5) View the Terms of Award which explains how to read your award letter and and the terms of the awards granted.
6) View How and When Aid is Credited to My Account
For Additional Information:
Select one of the following main or detailed sections for other important information, forms, and answers to your financial aid questions: