Franklin College

In 2021, tuition for full-time students at Franklin College was $36,600 a year.

In 2023, tuition increased 2.71%–from $35,636 the previous year. Usually, colleges raise tuition about 3% each year.

If these numbers sound impossible, remember, the displayed price of tuition does not give you enough information to determine the actual cost of attending any given college. Many students owe far less than the total tuition after grants, scholarships, and tuition discounts kick in. And, student loans can make the amount you do have to pay out of pocket feel more doable until after graduation.

Franklin College meets 53.52% of the demonstrated financial need for undergraduates. First-year students that attend Franklin College full-time are awarded $32,841 a year in financial aid, on average.

In 2020, students graduated with an average of $38,057 in student loans for each student with debt.

Does Franklin College Offer In-State and Out-of-State Tuition?

Franklin College is a private, religious institution, which means it has the same tuition for students from Indiana as it does for students who live in 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 tuition can cut the cost of college tuition. Don't forget to verify your state's requirements for as an in-state resident. Every state has its own rules about what makes someone eligible for in-state tuition. The most common requirement is that students must have lived in the state for a full year before starting school. There may be other criteria too, depending on the state you and your parents currently live in.

Explore other Indiana colleges

Franklin College International Student Tuition

Franklin College 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 be eligible for private or school-specific grants, scholarships, and other funding opportunities.

International students without financial need may be eligible for merit-based institutional scholarships.

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Franklin College Living Expenses, Fees, and More

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Tuition is not the only cost of attending college; 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.

House and Food Costs at Franklin College

Room and board at Franklin College costs $11,785 a year. This includes the cost of living in dorms or other on-campus housing, and a meal plan that allows you to eat all or some of your meals the school dining halls. Students who live off campus but still want to use the dining facilities can choose to be on a meal plan. The cost of board-only is $7,786.

Board costs may vary depending on how many meals are included in the plan you choose.

Cost of Books at Franklin College

First-year students are sometimes surprised by how much books and supplies cost–and not in a good way. The real cost of books and supplies 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.

Annual Fees

Most schools charge some yearly fees to offsets cost associated with maintaining facilties, like the computer labs and libraries, athletic facilities, and more.

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 have ways for students with financial need to get help covering these costs.

Transportation costs

The total cost of getting around in college depends on a few key factors. Will you drive, fly, or take public transportation to school? Will you need to pay to park on-campus? Is the campus easy to get around on foot? Do you own a car, or are you planning to use public transportation? All of these factors can drastically impact your transportation budget. Keeping in mind, first-year students are allowed to park a car on campus.

Where are a college is located can impact 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, getting around in an urban area might be expensive, but there may be more trains, busses and affordable flights to actually get to school. Franklin Collegeis located in a suburb in Indiana, near Indianapolis.

Other Costs

When you're planning for college, be sure to take into account the cost of things like going out to eat or see shows, furnishing your living space, and things like haircuts, clothes and, yes, even toilet paper and shampoo.

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Financial Breakdown for Franklin College

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Now, let’s do a rundown of all of the costs associated with college, to get a better estimate of the actual cost of attending Franklin College.

Total Cost of Franklin College

What will the cost of attending Franklin College be? Here is a breakdown of tuition and expenses.

2023 Total Tuition and Expenses
Tuition	$36,600
Room and Board	$11,785
Board Only	$2,718
Other expenses	$3,622

The total estimated cost will vary depending on whether you are going to live on-campus or off-campus.

Total Estimated Costs
On-Campus	$52,757
Off-Campus	$43,690

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

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Franklin College Financial Aid

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The majority of Franklin College undergrads use financial aid to to cover the cost of tuition. In 2023, 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
Federal Loans	$26,393
Private Loans	$36,398

Most Common Loans for Franklin College Students
Federal Loans	80%
Private loans	26%

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.

Scholarships at Franklin College

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 2023, 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.

Net Cost of Franklin College

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 2023. 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
On-Campus	$19,916
Off-Campus	$10,849

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 make more informed decisions about 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.

Franklin College Tuition Payment Plans

Some students choose to use payment plans to make the cost of tuition fit more comfortably in their budget.

Franklin College does not have guaranteed tuition.

Franklin College offers an Installment Payment Plan, which allows students to pay tuition in a series of smaller chunks instead of one lump sum.

Does Franklin College Offer Tuition Waivers?

Schools sometimes waiver tuition for certain groups, to reduce the total cost of attendance. Some colleges offer tuition waivers for faculty, staff, and their families , underrepresented students, or military students. Even if you qualify for a 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.

Franklin College's Endowment

An endowment is the total value of a school's investments, donations, and assets. Endowment is not necessarily an indicator of the quality of a school, but it can give you a sense of how much money a college can afford to invest in expanding programs, improving facilities, and supporting students.

As of 2021, the total market value of Franklin College's endowment was $87 million. The average college endowment was $905 million in 2021. For each full-time student, Franklin College spends about $9,929 a year.

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Learn More About Franklin College

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