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Financial Aid Policies Financial aid is defined as any financial resource used to pay for college expenses; this may include but is not limited to grants, scholarships, student loans and federal workstudy funding. It is not always possible to assist all eligible applicants to the full amount of financial need. Financial aid can be received from several sources (Franklin College, federal, state, and/or external awards) and must be coordinated by the Office of Financial Aid to ensure that total aid received does not exceed regulatory limits. Students and parents should contact the Office of Financial Aid with any questions regarding the aid application or awarding process. Note: Students enrolled in a Franklin College graduate program are not eligible for institutional scholarships and grants.
General Financial Aid Information Institutional Scholarship and Grant Assistance for Undergraduate Students Franklin College offers a wide variety of scholarships and grants to qualified students. Most scholarships are based on academic achievement while most grants are based on financial need. Most undergraduate students are considered for scholarships upon admission to the college. Enrollment–Students must be enrolled full-time (12 hours or more each semester) to be considered for Franklin College grants and scholarships, maximum State of Indiana grants, and maximum Federal Pell Grants. Part-time students (six to 11 hours) may only qualify for Federal grants and student loans. Students applying for financial aid by April 15 of each year will receive full consideration for all forms of financial assistance. Some scholarships, as noted, may require a separate application with an earlier deadline. Application–The Free Application for Federal Student Aid (FAFSA) is required for all aid beyond a merit scholarship or tuition remission. The FAFSA can be filed at www.studentaid.gov and should be submitted by April 15 for each year that financial assistance is requested. Students filing the FAFSA after April 15 will not be considered for State of Indiana grant assistance, but will be considered for federal and institutional funding. Adjustment to Financial Assistance–A financial aid award may be reviewed and adjusted at any time during the academic year contingent upon federal and state regulations. Students should promptly report family financial changes to the Office of Financial Aid. Students are required to report all financial aid received from external funding sources. Financial Aid for Study Abroad–Students are invited to apply for study abroad assistance through the Office of Global Education. With the assistance of generous donors, Franklin College has established scholarships specifically for international travel. Additional information regarding specific scholarships available for international travel follows. Satisfactory Academic Progress (SAP)–Students must make satisfactory progress toward graduation each academic year to be eligible to receive additional financial assistance for the following academic year. Detailed SAP policies for the Bachelor of Arts, Master of Science in Athletic Training, and Master of Science in Physician Assistant Studies can be found at the end of this section of the catalog.
