Financial Aid Awarding Process

Your award letter will notify you of your aid eligibility. The aid awarded is based on the hours of enrollment listed on the Award Letter, 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 thoroughly and view the Terms of Award below.

If your enrollment hours change, your eligibility for programs and/or aid amounts may also change. 

See Types of Financial Aid for program eligibility requirements.

Grants are automatically accepted on your behalf. 

Loans will not be processed until the Award Letter is signed and returned to Financial Aid. Visit the Loan Process page 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) for Federal Direct Stafford Loans

Your financial aid is based on information you provided on your FAFSA. It is your responsibility to ensure the accuracy and completeness of the information on every FAFSA transaction.

How to Read Your Award Letter

Financial Aid Standards of Academic Progress Status
This is the current status of your academic progress for financial aid.

Enrollment Hours
Aid is based on the hours of enrollment listed.

Changes in your enrollment may impact your aid.

Code Definitions
A:  Award is complete. You need to sign and return the Award Letter. See the Loan Acceptance section on the Award Letter for additional instructions.
C:  Award cancelled; eligibility criteria not met.
E:  Award shows eligibility only. To finalize your award(s), follow the instructions in the Important Comments section of the Award Letter.
G:  Award is a tentative amount.
H:  Hold until eligibility is determined.
N:  Not enrolled in sufficient hours to receive funds.
R:  Rejected by the student.
T:  Indicates your last term of eligibility.
W: Withdrawn from eligibility.

Important Comments
See the important comments printed at the bottom of your Award Letter. Further action may be required.

Special Circumstances
If you have circumstances that were not reflected in the FAFSA process, you may have the right to appeal. Contact us at 1.877.341.6300 to review your situation and receive appeal information.

Revisions and Cancellations
The University reserves the right to review, revise, or cancel an award at any time.

Aid Notes

• A Federal Work Study award is not a guarantee of employment or financial aid.
• Federal student loans listed on the Award Letter are gross amounts. The actual funds received may be less due to fees assessed by the lender.
• State aid will only cover up to the cost of tuition and fees and is not refundable to the student.
  
• Aid cannot be used to retake courses that were already successfully completed or that do not apply toward your degree.
  
  

Student Responsibility
Franklin University is committed to assisting students in applying for financial aid resources. However, students enrolled in courses at Franklin are ultimately responsible for paying their tuition and fees.