by our College Data Analytics TeamThe majority of students will not be asked to pay the advertised price of a school. Instead, they will be provided a financial aid package that will include a combination of scholarships, grants, loans, and work-study. The total price of attendance at Franklin University can feel overpowering, but remember that the majority of students receive some sort of financial assistance.
What financial assistance options will Franklin University offer, and what will you qualify for? Read on for more information. Keep reading to see what amount of financial assistance could be accessible to you.
Your financial aid package, which may contain grants and scholarships, will be determined on your financial need. Read on to get a sense of the financial assistance available at Franklin University.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
At Franklin University, 96% of entering full-time freshmen got some type of financial assistance roughly 49 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 96% | $5,166 |
| Institutional grants & scholarships | 59% | $558 |
| Federal Pell grants | 84% | $4,155 |
| State/local grants | 57% | $1,842 |
| Federal student loans | 75% | $5,697 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At Franklin University, around 59% of undergrads got grants or scholarships worth on average $6,540 (covering around 3403 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 59% | $6,540 |
| Federal Pell grants | 37% | $5,026 |
| Federal student loans | 41% | $8,446 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $5,453.
Because need-based aid scales with family income, what students actually pay differs sharply across income brackets.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $22,759 |
| $30,001 – $75,000 | $21,744 |
Remember these are net prices — what families pay after gift aid, not before.
After grants and scholarships come off the published price, what remains is the net price — the best estimate of true out-of-pocket cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $25,243 |
| Off-campus title-IV students | $22,605 |
To project your own net price, use Franklin University’s net price calculator: www.franklin.edu/lp/npcalc/npcalc.htm.
The middle student in the debt distribution at Franklin University owes $14,238 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $14,238 |
| Median federal debt (graduates only) | $20,836 |
| Typical 10-year monthly payment (graduates) | $220.9/mo |
Under a standard ten-year plan, the median graduate’s monthly payment lands near the figure above.
The median alone does not show how widely outcomes vary across the student body. These percentiles trace how cumulative federal debt is spread among borrowers at Franklin University.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,501 |
| 25th percentile | $7,000 |
| 75th percentile | $26,264 |
| 90th percentile (highest-debt students) | $37,500 |
Debt outcomes are not uniform — they shift with income, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $15,623 |
| Middle income | $14,250 |
| High income | $12,500 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $14,586 |
| Continuing-generation students | $12,696 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $11,000 |
| Independent students | $16,619 |
A handful of calculated indicators summarize the debt outlook at Franklin University.
The Stafford program is the federal direct-loan vehicle most undergraduates use. The totals below capture Stafford lending at Franklin University:
| Metric | Value |
|---|---|
| Stafford loan recipients | 36553 |
| Total Stafford loan amount | $905,606,941 |
Veterans and active-duty service members may qualify for the Post-9/11 GI Bill or DoD Tuition Assistance.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 220 |
| Total GI Bill amount | $1,833,023 |
| Average GI Bill amount per recipient | $8,332 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 64 |
| Total DoD amount | $254,924 |
| Average DoD amount per recipient | $3,983 |
References
More about our data sources and methodologies.