Applying for Financial Aid

Student Contract

Sign your contract and declare Franklin as your home school.

Consortium agreements/Student Contracts are written agreements between two or more institutions enabling students to take coursework simultaneously at different institutions for the purpose of completing a degree. Under such an agreement, students can take courses at their community college, the "host school," and have those courses count toward a bachelor’s degree at Franklin University, the "home school."

The home school is the school that will grant the degree, as well as process, award, and disburse financial aid. The host school will be responsible for certifying student enrollment status and providing student information, such as costs for tuition and fees, grades, and withdrawal information.

 

Consortium Agreement Guidelines:
 

1. Students must be designated as degree-seeking in the Community College Alliance (CCA) Program at Franklin University.

2. Aid will not be processed until your first term of enrollment at Franklin.

3.  Each class taken at the host school must be considered a degree requirement for the course to be included in the financial aid process.

4. To receive loans from Franklin, the student’s enrollment status (the combination of hours between Franklin and the host school) must be at least six semester hours.

5. Because arrangements for Consortium Agreements and Student Contracts may take several weeks, it is advisable for students to make financial arrangements with the host school by the appropriate deadline for bill payment at that institution.

The Consortium Agreement consists of two parts:

1. Blanket Consortium Agreement (school)
The Blanket Consortium Agreement is an agreement between the host and home school. The host school completes the blanket agreement and submits it to Franklin University's Financial Aid Office.

2. Student Contract (student)
All students participating in the CCA Program are required to submit a new Student Contract each financial aid award year. The Student Contract (and Sample Contract) is available on our Financial Aid Forms page.  Select the appropriate year, scroll down to the section titled Community College Alliance Students Only.  Print out the Student Contract and follow the completion and submission instructions printed on the Student Contract.
 

Official Transcripts (student)
At the conclusion of each trimester of enrollment, students must request that official transcripts* be sent to Franklin University's Transfer Credit Office for use in determining completion of courses and satisfactory academic progress. Failure to submit official transcripts may cause a reduction or cancelation of aid for the term in which grades were not submitted, and will prohibit aid from being processed for subsequent terms.

 

* An official transcript is one that has been received directly from each college or university listed on your application. It must bear the college seal, date, and an appropriate signature. Transcripts received that do not meet these requirements should not be considered official and are routinely rejected for any permanent use.

If you're transferring to Franklin University from another school in the middle of an aid year and you received Federal or State Aid at your previous school, please make sure you do the following:

• Cancel future loan disbursements scheduled for your previous school
• Add Franklin University (school code: 003046) to your Student Aid Report (SAR) by:
  • updating your FAFSA; or
  • calling the Federal Processor at 1.800.433.3242
• Remove previous school's code from the FAFSA

The financial aid application process must be completed each award year. Applications are available January 1 each year for the next award year, beginning Summer Trimester and ending Winter Trimester.

Submit your FAFSA and other financial aid forms by the following Priority Processing Deadlines for maximum aid eligibility:

By meeting the priority processing deadline, your application will be considered for campus-based aid. However, with classes starting every three weeks, you can complete your FAFSA at any time during the current enrollment trimester. 

Exception for Winter Term:  

The last day to apply (FAFSA) for Winter 13 Trimester is April 26, 2013.

Within two weeks of completing a FAFSA, the Department of Education's Central Processor will send an email notifying you that your Student Aid Report (SAR) is available for review on the FAFSA website.

Review your SAR for accuracy, using your FAFSA Pin Number. Carefully correct anything that may have been misreported. If corrections are necessary, correct and electronically sign (with your PIN number) your SAR and send it back to the Central Processor. Dependent students must also have the parent electronically sign the SAR using their PIN number.  Contact FAFSA customer service at 1.800.433.3243 if you do not receive a SAR notification within two weeks of completing your FAFSA.

In general, to be eligible for financial aid at Franklin University, you must:

• Complete the appropriate year FAFSA.
• Have proof of an official* high school diploma or an associate or higher degree on file with Franklin.
  • High school transcript, GED, or equivalent; or,
  • College/university transcript showing associate or higher degree
• Be enrolled or accepted for enrollment as a regular student working toward a degree or certificate in an eligible program.
• Be enrolled at least half time (from most programs).
• Be a U.S. citizen or eligible non-citizen.
• Have a valid Social Security Number (unless you're from the Republic of the Marshall Islands, the Federated States of Micronesia, or the Republic of Palau).
• Not have a federal or state drug conviction for an offense that occurred while you were receiving federal student aid (such as grants, loans, or work-study).
• Make satisfactory academic progress.
• Have financial need (in most cases).
• Be registered with the Selective Service if you are a male and 18 through 25 years of age (go to www.sss.gov for more information).

* official means received directly from the institution in their sealed envelope