Skip to main content
Things That Affect Your Aid

Changes in your enrollment may affect your financial aid eligibility

If you are planning to receive financial aid, it is important to understand that your enrollment hours and academic performance must remain at a certain level to continue to receive full benefits. Please read through the following sections carefully to make sure you understand your eligibility requirements.

Eligibility Requirements

Enrollment Hours

The eligibility presented on your Award Letter is based on full-time enrollment, unless otherwise indicated on your award letter. If your enrollment hours are different than the hours of enrollment presented on your Award Letter or if they change during the term, your eligibility for your awards will most likely also change.

Overpayments – Federal Pell and Supplemental Educational Opportunity (SEO) Grants

An overaward occurs when a student receives Pell and/or SEO Grants in excess of their eligibility.  When a student’s academic record indicates that they withdrew from, never attended, and/or stopped attending (unofficially withdrew from) any or all of their courses, eligibility will be recalculated based upon actual enrolled hours. 

If the calculation determines that Pell and/or SEO Grants were received in excess of actual eligibility, you will be notified an overaward exists. Upon notification of the overaward, you will have 45 calendar days to repay this debt back to Franklin University.  To review the balance owed, log onto your myFranklin account.

It is your responsibility to make payment arrangements with the University.  The balance owed to the University must be repaid in FULL within 45 calendar days.    Payments can be made by the following methods within the 45 day period:

  • by logging onto myFranklin and accessing CashNet
  • at the Welcome Center – a computer is available to access myFranklin and CashNet
  • by mailing payment to:  Franklin University - Business Office  201 S. Grant Ave., Columbus, Ohio 43215-5399

If the 45 calendar days have elapsed and the balance remains unpaid to the University, the debt will be referred to the U.S. Department of Education Debt Resolution Services for collection as well an overpayment will be placed on the National Student Loan Data System (NSLDS). You will not be eligible to receive any Federal financial aid funds at Franklin University or any other post-secondary institution until the debt is resolved. It is your responsibility to contact the Department of Education to make payment arrangements to resolve this debt. Franklin University can no longer accept payment for this debt after the 45 day period has expired. Debt Resolution Services can be reached by calling 1-800-621-3115 or by mail at the following address:

U.S. Department of Education
Debt Resolution Services
P.O. Box 5609
Greenville, Texas 75403

As a result of a reduction in enrolled hours, you may also owe a balance to Franklin University.

Satisfactory Academic Progress (SAP) for Financial Aid

In order to comply with the State of Ohio and federal regulations under Section 668.16 (e), Franklin University has established standards for measuring satisfactory academic progress for students receiving Title IV or State assistance. These standards contain both qualitative and quantitative components. Financial Aid Satisfactory Academic Progress (SAP) is defined separately for undergraduate and Graduate students.

Study Skills Evaluation

If you are referred by Financial Aid for a Study Skills Evaluation, please contact the Student Learning Center at 614.947.6800 or through email at slc@franklin.edu. You will be provided with the necessary information to complete the study skills assessment.

Financial Aid Consequences

Students receiving any type of financial aid may lose part or all of such assistance if they stop attending or withdraw from one or more courses in any one trimester. Any overaward that results from withdrawing or nonattendance must be repaid before further financial assistance may be received. In considering whether or not to withdraw from or stop attending a course, students receiving financial aid should first consult with the Financial Aid office.