In 2022, tuition for full-time students at Franklin College was $35,636 a year.
Tuition increased 2.5% in 2022–from $34,766 the previous year. Usually, colleges raise tuition about 3% each year.
If this information makes going to college sound impossible, remember, the total cost of tuition isn't necessarily what you will have to pay to attend a school. Many students owe far less than the sticker price after grants, scholarships, and tuition discounts are applied. Additionally, student loans can make theprice of collegemore manageable until you're done with college.
Franklin College is a private, religious institution, which means it has the same tuition for residents of Indiana as it does for residents from other states.
Public schools receive funds from the state to help them cover costs. 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 residency can cut the cost of college tuition. Be sure to check your state's guidelines for how to qualify 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 other criteria as well, depending on the state you and your parents currently reside in.
Explore other Indiana colleges
Tuition at Franklin College is the same for each student.
International students usually do not qualify for for loans or grants from the U.S. government, but should research private or Franklin College-specific grants, scholarships, and other funding opportunities..
International students without financial need may be eligible for merit-based institutional scholarships.
In addition to the cost of tuition, there are other costs associated with college, like room and board, facility fees, and books and supplies. Let's take a look at what impacts these costs, and what to expect at Franklin College.
Housing and campus dining at Franklin College is $11,305 a year. This number includes the cost of living in dorms or other on-campus housing, plus a dining plan that allows you to eat in the school dining halls. Students who live off campus but still want to use the dining facilities can pay for a meal plan. The cost of board-only is $6,662.
Board costs vary based on on how many meals are included in the plan you choose.
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 used textbooks and materials.
Most schools also have fees to help cover the cost of facilties, like the computer labs and libraries, athletic facilities, and more.
Keep in mind, there could also be other costs associated with participating in special activities, like Greek Life, or playing on an intramural sports team. Many schools offer resources for students with financial need to get help covering these costs.
The total cost of transportation in college can really vary. Will you drive, fly, or take public transportation to school? Is on-campus parking free, or will you need to budget for parking? Is the campus walkable? Do you plan to bring a car or will you need to use public transportation? All of these questions can drastically impact your estimated cost of transportation. At Franklin College, freshman are allowed to park on campus.
Where are a college is located can also have a big effect on transportation costs. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the flip side, transportation in a city might be costly, but there may be more trains, busses or affordable flights to actually get to school. The Franklin College campus is located in a suburban setting in Indiana, not far from Indianapolis.
When estimating your budget for college, don’t forget to take into account personal expenses, like going out to eat or see shows, furnishing your living space, and things like haircuts, clothes and, yes, even toilet paper and shampoo.
Now, let’s go over all of the costs we've covered, to get a better idea of what is really costs to go to Franklin College.
What will the cost of attending Franklin College be? Here is a breakdown of tuition and expenses.
|2022 Total Tuition and Expenses|
|Room and Board||$11,305|
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.
Franklin College’s tuition and fees change based on: •Course load for both full and part-time students
The majority of Franklin College undergrads use financial aid to to cover the cost of tuition. In 2022, 772 of the 899 undergrads enrolled received financial aid. Franklin College meets 53.52% of the demonstrated financial need for undergraduates.
The average financial aid package for a full-time, first-year student is around $32,841 a year. Around 80% of Franklin College undergrads take out student loans to cover any remaining costs. Franklin College graduates who have student loans graduate with an average of $38,057 of student loan debt.
The average debt for each loan type varies.
|Average Debt By Loan Type|
|Most Common Loans for Franklin College 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 Franklin College 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, Franklin College awarded 416 need-based scholarships to students, giving away total of $18 million to help students with financial need cover the cost of school. An additional $4.7 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 Franklin College 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 Franklin College was $32,841 in 2022. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Franklin College seem more manageable.
|Estimated Net Cost for Full-Time Students|
What will attending Franklin College 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 get a better idea of the actual cost of attending that school, based on their financial situation. You can find the Franklin College'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.
Franklin College 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 make attending more affordable. Some schools offer tuition waivers for faculty, staff, and their families , underrepresented students, or military students. Even with a tuition waiver, students are usually responsible for housing, meal plans, and other expenses.
Franklin College 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.
To learn more about Franklin College, choose from the options below:
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Data Source: IPEDs and Peterson's Databases © 2022 Peterson's LLC All rights reserved
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