Applying for Financial Aid

Applying for Financial Aid at Franklin is easy. Follow our 3-step process:



STEP 1
Apply for Admissions and declare your degree.



STEP 2
Complete a Free Application for Federal Student Aid (FAFSA).

  • Franklin's school code: 003046
  • Use 2008 financial information for 2009-2010
  • Franklin will use the enrollment and housing plans you indicated on your FAFSA to award your aid. If your enrollment hours change, your aid may also change.
  • Contact Financial Aid at finaid@franklin.edu to assure your aid is processed properly if:
    • you are graduating Summer 09 or Fall 09
    • you will not be attending all three terms (Summer 09, Fall 09, Winter 10)

See Deadlines below.



STEP 3 
Declare any outside tuition assistance.
If you're getting financial assistance from any of the following sources, complete the Declaration of Outside Tuition Assistance Form:

  • Your employer
  • Bureau of Vocational Rehabilitation (BVR)
  • National Guard
  • Ohio Tuition Trust Authority (prepaid tuition plan)
  • Scholarships (expected or received – not from Franklin)
  • Other sources that do not include grants or loans
Transfer Students

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 obtained 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

 

Deadlines

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:


2009-2010

Summer 2009 - March 15, 2009

Fall 2009 - June 15, 2009

Winter 2010 - October 15, 2009



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: The last day to apply for the Winter 10 Trimester is April 30, 2010.

Receive/Review Results of FAFSA

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



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

Eligibility Requirements

In general, to be eligible for Financial Aid at Franklin University, you must:

  • Complete a FAFSA
  • Have a copy of your official transcripts submitted directly from your high school or previous colleges or universities
  • Be a degree-seeking student
  • Be enrolled at least half time
  • Be a U.S. citizen or eligible non-citizen
  • Make satisfactory academic progress
  • Have financial need (in most cases)
  • Be registered with the Selective Service (if required)
Financial Aid Program Descriptions

State Aid

Federal Aid

Institutional Aid

Federal Pell Grant - Undergraduate

Description
  • Federal government grant, based on need
  • Repayment not required
  • Available for full and part-time students

How to Apply
  • Complete general requirements

Amount
  • 2009-2010: $976 - $5,350 per year

Deadline
  • Processed in dated order

Ohio College Opportunity Grant (OCOG) - Undergraduate

Description
  • State of Ohio grant, based on need
  • Limited to 10 semesters of need-based State of Ohio grant aid (including a combination of OCOG and OIG)
  • Available for full and part-time students
  • Seeking first associate's or bachelor's degree
  • Available for tuition and fees only
  • U.S. citizen and eligible non-citizen
  • Ohio residency of 1 year required
How to Apply
  • Complete general requirements
Amount for 09-10 only
  • $225-$900 per term up to three terms per award year
  • Maximum of $2,700 per year
  • Award based on availability of funds
Deadline
  • October 1, 2009

Pennsylvania Higher Education Assistance Agency (PHEAA) - Undergraduate

Description
  • This program allows eligible Pennsylvania residents to obtain financial assistance for undergraduate study at any PHEAA-approved institution of higher education
  • Meet criteria for financial need
  • Must be enrolled at least half-time in a PHEAA-approved undergraduate program of study and not already have a 4-year (or more) undergraduate degree
  • At least 50% of the total credits/clock hours required for completing the program of study must be earned through face-to-face classroom instruction
  • Be a Pennsylvania resident for at least 12 months before applying for this grant
How to Apply
  • Apply at www.pheaa.org
  • For more information, call toll-free: 1.800.692.7392
Deadlines:
  • May 1 for: 1) all renewal applicants, 2) new applicants who plan to enroll in an undergraduate baccalaureate degree program, and 3) those in college transfer programs at two-year public or junior colleges
  • August 1 for first-time applicants who plan to enroll in: 1) a business, trade, or technical school, 2) a hospital school of nursing, or 3) a two-year terminal (i.e., non-transferable two-year degree) program at a community, junior, or four-year college

Federal Supplemental Educational Opportunity Grant (SEOG) - Undergraduate

Description
  • Federal grant, based on need
  • Available for full and part-time students

How to Apply
  • Complete general requirements

Amount
  • Maximum of $400 per term; $1,200 per year; award based on availability of funds

Deadline
  • Meet priority deadline for the first trimester of enrollment of the award year

Federal Academic Competitiveness Grant (ACG) - Undergraduate

Description
  • Federal grant, based on need
  • Must have Pell eligibility
  • First and second year students
  • Requires completion of rigorous high school program of study
  • Available to full-time and part-time students 2009-2010
  • U.S. citizen (2009-2010 includes eligible non-citizens)
  • Repayment not required

How to Apply
  • Complete general requirements
  • Must self-identify on the FAFSA
  • Must have official high school transcript and all official college transcripts on file

Amount
  • 2009-2010:
    • First year - up to $750
    • Second year - up to $1,300

Federal National Science and Mathematics Access to Retain Talent Grant (SMART) - Undergraduate

Description
  • Federal grant, based on need
  • Must have Pell eligibility
  • Junior and senior class level
  • Available for full and part-time students
  • Limited to Programs of Study: Computer Science, Digital Communications, Information Technology, and Web Development
  • GPA of 3.0 or higher
  • Repayment not required
  • U.S. citizen (2009-2010 includes eligible non-citizens)
  • Must be enrolled in at least one course each term that meets the specific requirements of the student's National SMART Grant-eligible major

How to Apply
  • Complete general requirements
  • Official transcripts from all previous colleges and universities must be on file with Franklin

Amount
  • 2009-2010
    • Up to $4,000 each year

Deadline
  • Processed in dated order

Apply for Federal Work Study Program - Undergraduate/Graduate

Description
  • On-campus employment
  • Must be enrolled at least half time
  • Work with university faculty and staff
  • Receive paycheck twice a month

How to Apply
  • Complete general requirements; and submit FWS employment application to Human Resources

Amount
  • $3,500 (estimated) per term

Deadline
  • Preference to students who meet priority deadline

Schell Loan Program - Undergraduate

Description
  • Registered at least half time
  • Must have completed 30 hours at Franklin with a minimum 3.0 GPA
  • U.S. citizen
  • 25 years of age or younger
  • Not receiving any grants/scholarships

How to Apply
  • Contact Financial Aid for an appointment

Amount
  • Up to $200 per credit hour

Deadline
  • None

Federal Direct Subsidized Loan Program - Undergraduate/ Graduate

Description
  • Federal loan, based on financial need
  • Interest rate is fixed at 6.00% UG and 6.80% Grad for loans first disbursed between 7-1-08 and 6-30-09.  Origination fee of 2% with a 1.5% rebate.
  • Interest rate is fixed at 5.60% UG and 6.80% Grad for loans first disbursed between 7-1-09 and 6-30-10.  Origination fee of 1.5% with a 1% rebate.
  • Origination and/or federal default fee may be charged by guarantor
  • Must be enrolled at least half-time
  • Repayment begins when you graduate or cease to be enrolled at least half time for a period of at least six months
  • 10-year repayment
  • Interest paid by federal government while in school, during deferment, or during grace period

How to Apply
  • Complete a Master Promissory Note
  • Complete general requirements
  • Complete a Student Loan Entrance Interview (for first time borrowers at Franklin University)

Amount:
  • Undergraduate:
    • Freshman: $3,500
    • Sophomore: $4,500
    • Junior/Senior: $5,500
    • Aggregate: $23,000

  • Graduate:
    • Yearly: $8,500
    • Aggregate: $65,500

Deadline
  • 2009-2010
    • Processed in dated order through March 1, 2010

Federal Direct Unsubsidized Loan Program - Undergraduate/Graduate

Description
  • Federal loan, not based on financial need
  • Same as Federal Subsidized Stafford Loan except borrower is responsible for accrued interest while in school, during deferment, or grace period

How to Apply
  • Same as Federal Subsidized Stafford Loan

Amount:

 
  • Undergraduate:
    • Freshman: $9,500*
    • Sophomore: $10,500*
    • Junior/Senior: $12,500*
    • Aggregate Undergraduate Total Sub and Unsubsidized: $57,500*
  • Graduate:
    • Total Sub: $8,500
    • Total Unsubsidized: $12,000
    • Aggregate Annual: $20,500
    • Aggregate Total: $138,500*

* less Federal Stafford Subsidized eligibility

Deadline
  • 2009-2010
    • Processed in dated order through March 1, 2010

Federal Direct Parent Loan for Undergraduate Students (PLUS) - Dependent/Undergraduate

Description
  • Federal loan for parents of dependent students, not based on financial need
  • Interest rate is fixed at 8.5%
  • Direct Loans may charge an origination and/or federal default fee
  • At least half-time enrollment required
  • Repayment begins within 60 days after the final disbursement for the academic year; Repayment may be deferred if certain conditions are met

How to Apply
  • Complete general requirements;
  • Electronically via our Loan Process page.

 

Amount
  • Cost of education, minus other financial aid

Deadline
  • 2009-2010
    • Processed in dated order through March 1, 2010

Federal Direct Graduate PLUS Loan - Graduate Students

Description
  • Federal loan for graduate students, not based on financial need
  • Interest rate is fixed at 8.5%
  • Direct Loans may charge an origination and/or federal default fee
  • At least half-time enrollment required
  • Must have applied for the annual loan maximum in subsidized and unsubsidized loans before applying for GRAD PLUS loan
  • Repayment begins within 60 days after the final disbursement for the academic year; Repayment may be deferred if certain conditions are met

How to Apply

Amount
  • Cost of education, minus other financial aid

Deadline
  • 2009-2010
    • Processed in dated order through March 1, 2010

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Financial Aid