In 2022, Franklin & Marshall College's tuition was $65,652 a year.
In 2022, tuition increased 3.85%–from $63,216 the prior year. Usually, college tuition rises about 3% year.
If these numbers seem daunting, remember, the total cost of tuition isn't the final cost for attending college. Many students pay way less than the sticker price after grants, scholarships, and tuition discounts kick in. And, student loans can make theactual cost of attending college feel more doable until you've finishing school and found a job.
Franklin & Marshall College is a private, nonprofit institution, so it has the same tuition for residents of Pennsylvania as it does for residents from other states.
Public colleges and universities receive funding from the state government. Public, state schools can offer lower tuition for students who meet the requirements for in-state residency.
Choosing a college where you qualify for in-state status can cut the cost of college tuition. Be sure to check your state's eligibility criteria for in-state residency. Each state has different requirements to qualify as in-state resident. In many states, students must have lived in the state for 12 months before starting school to qualify for in-state tuition. There may be additional requirements too, depending on where you live.
FandM has the same tuition for international students as for those from out of state.
International students usually do not qualify for for loans or grants from the U.S. government, but may qualify for private or school-specific aid and scholarships. International students with need may qualify for the following types of financial support at FandM:
•On-campus jobs •FandM-specific loans •FandM-specific scholarships
In addition to the cost of tuition, room and board, books, transportation and fees are also costs it consider when budgeting for college. Let's take a look at what impacts these costs, and what to expect at FandM.
Housing and campus dining at FandM is $15,040 a year. This includes the cost of living in dorms or other on-campus housing, and a dining plan that allows you to eat all or some of your meals the school dining halls.
Board costs may vary depending on the numnber of meals you intend to eat on-campus
The cost of books often surprises first-year college students. The real cost of books depends on the courses you take and the textbooks, computer programs, or other materials are required.. To save money, many students choose to use books from the library or buy books from students who have already taken the course.
The majority of colleges also have fees to help cover the cost of facilties, like the library, gym and computer labs.
Keep in mind, there could also be optional fees associated with participating in certain activities, like joining a fraternity or sorority, or participating in sports or other extracurriculars. Most colleges offer ways so that those who may struggle to participate because of cost can get help covering these costs.
The total cost of transportation in college depends on a few key factors. Will you take a subway, car or an airplane to get to school? Will you need to pay to park on-campus? Is the campus walkable? Do you own a car, or will you need to use public transportation? All of these questions can make a big difference in your estimated cost of transportation. At FandM, freshman are not allowed to park on campus.
Where are a college is located can impact your transportation budget. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the other hand getting around in an urban area can be costly, but cities may offer more trains, busses or low-cost flight options to actually get to school. The Franklin & Marshall College campus is in a suburban setting in Pennsylvania, not far from Philadelphia.
When you're planning for college, be sure to take into account personal expenses, like entertainment, clothes, furnishings and toiletries.
Now, let’s look at the breakdown of all expenses, to get a better idea of the actual cost of attending FandM.
What will the cost of attending FandM be? Here is a breakdown of tuition and expenses.
|2022 Total Tuition and Expenses|
|Room and Board||$15,040|
The total estimated cost will vary depending on whether you are going to live on-campus or off-campus.
|Total Estimated Costs|
The breakdowns above provide a good estimate of the total cost of attendance before financial aid and scholarships. Tuition and fees may vary depending on program, course level, location, and more.
The majority of Franklin & Marshall College undergrads use financial aid to finance their education. In 2022, 1,251 of the 2,145 undergrads enrolled received financial aid. FandM meets 100% of the demonstrated financial need for undergraduates.
The average financial aid package for a full-time, first-year student is around $55,201 a year. Around 54.48% of FandM undergrads take out student loans to cover any remaining costs. FandM graduates who have student loans graduate with an average of $27,674 of student loan debt.
The average debt for each loan type varies.
|Average Debt By Loan Type|
|Most Common Loans for FandM Students|
Most students take out institutional or government loans, because they tend to have lower interest rates and more flexible repayment options than private loans. Loans from the federal government can be subsidized or unsubsidized. Subsidized loans do not accrue interest during school, while unsubsidized loans begin accruing interest at the time the loan is issued. If students do no qualify for enough federal loans to cover the cost of tuition, some take out private loans. Parents can also take out ParentPLUS loans, which are government loans for parents who are helping their children pay for college.
The Free Application for Federal Student Aid (FAFSA) helps colleges determine how much financial need students and their familes have, so they can offer a financial aid package that meets, or come close to meeting, their need. For more information on FandM financial aid, keep reading, or visit their financial aid website.
Some students may receive grants and scholarships to help pay for college. Unlike loans, scholarships and grants do not have to be paid back.
In 2022, FandM awarded 1,231 need-based scholarships to students, giving away total of $64.4 million to help students with financial need cover the cost of school. An additional $1.83 million in merit-based scholarship money was awarded to students without demonstrated financial need.
The net price of college is the actual cost of attending a school for one year. Net cost is calculated by subtracting any scholarships, grants or other aid that does not need to be paid back from the total cost. Student loans are not part of the calculation, because they need to be repaid.
Now that we have a sense of the total estimated costs for FandM students, we can subtract the average financial aid package to find the estimated net cost. Net cost can vary depending on a students’ need and the financial aid award received.
When considering whether a school fits your budget, it is important to consider the estimated net cost, not just the sticker price of tuition. Often, schools with the highest tuition also offer the most generous aid packages, so estimate your net cost before eliminating a school because it does fit your budget.
The average amount of financial aid received by a full-time first year student with demonstrated need at FandM was $55,201 in 2022. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of FandM seem more manageable.
|Estimated Net Cost for Full-Time Students|
What will attending FandM really cost you? The answer depends on several factors.
As of 2011, colleges are required to have a net price calculator on their website to help prospective students and their families understand the actual cost of attending that school, based on their financial situation. You can find the FandM's net cost calculator on their website.
Some students choose to use payment plans to make the cost of tuition fit more comfortably in their budget.
FandM offers an Installment Payment Plan, which allows students to pay tuition in a series of smaller chunks instead of one lump sum.
Schools sometimes offer tuition waivers to certain groups, to offset the cost of attending. Some colleges offer tuition waivers for faculty, staff, and their families , underrepresented students, or military students. Even if you qualify for a waiver, other expenses and fees are the responsibility of the student.
FandM has some full or partial tuition waivers available for: - Employees or Children of Employees
Check the financial aid website for more information on payment plans and tuition waivers.
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