Over 85 percent of Franklin students receive financial aid. As an institution Franklin offers scholarships based on academic merit and financial need. Additionally, students may receive aid from various external programs based on citizenship, need, and other factors. Together we create a financial aid package and carefully guide you through your financing options to help you afford your education.

Franklin University Switzerland Institutional Scholarships

These scholarships are awarded based upon academic merit or demonstrated financial need and are considered “free” money because they do not require repayment. These discounts are renewable annually provided the student meets the designated requirements. There are two types of institutional awards: 

Merit Scholarships

Merit scholarships are awarded upon admittance to the University and are based upon academic achievement. Every applicant is automatically reviewed for merit scholarships, but priority is given to students who apply for admission by our December 1 deadline. After December 1 students may be considered for merit scholarships, but only if funds are available. Notice of the merit award amount is included with the official admission letter. 

Financial Aid/Need-based Scholarships

Need-based scholarships are based upon a family's demonstrated financial need. We take into consideration household income, assets, family size, the number of students attending universities simultaneously, and other factors. These awards are sent out on a rolling basis after admission, and after the FAFSA (www.FAFSA.ed.gov) is completed (for U.S. students). Students who are not U.S. citizens or residents complete a similar institutional application on Net Partner and are awarded based on the same criteria.

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U.S. Federal Loans

Available only to students who are U.S. citizens or legal residents, Federal Direct Loan amounts increase each academic year as students progress through their degree programs. For subsidized loans, interest does not accrue while a student is enrolled, and during the first six months after graduation. Unsubsidized loans accrue interest as soon as they are received. All loans must be repaid.

The following is a breakdown of the loans and amounts:

Dependent Undergraduates

 

Initial Subsidized Direct Loan

Additional Unsubsidized Direct Loan

Combined (maximum) Levels

1st year  (less than 30 credits)

$3,500

$2,000

$5,500

2nd year  (30-59 credits)

$4,500

$2,000

$6,500

3rd and 4th year

(at least 60 credits)

$5,500

$2,000

$7,500

       

Independent Undergraduates and Dependent Undergraduates where the parent is ineligible for Parent PLUS loan

  Initial Subsidized Direct Loan Additional Unsubsidized Direct Loan Combined (maximum) Levels

1st year

$3,500

$6,000

$9,500

2nd year

$4,500

$6,000

$10,500

3rd and 4th year

$5,500

$7,000

$12,500

       

Aggregate Limits

 

Subsidized

Sub and Unsub Combined

Dependent Undergrads

$23,000

$31,000

Independent Undergrads

$23,000

$57,500

     

Graduate Students

 

Subsidized

Unsubsidized

Graduate students

Not applicable

$20,500

Aggregate Limit (includes all federal loans received for undergraduate study)

$65,500

$73,000

     

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Private Loans

Sallie Mae is a financial services company that provides private educational loans to U.S. citizens or permanent residents. The loan application can be found at www.salliemae.com. The loan will be in the student’s name and most students will need a credit-worthy co-signer to apply with them. Interest rates vary based on the co-signer’s credit history. The student may borrow up to the full cost of education including, tuition and fees, room and board, books and supplies, transportation and living expenses, less any other financial aid that the student receives. The cost of attendance for each student can be found on Net Partner and should help guide the family as to how much they will need to borrow.

Please note that Sallie Mae is the only private lender that will provide educational loans for students attending an international university not located in the U.S.

Parents may also consider alternatives such as home equity loans or borrowing against insurance or retirement funds, and should consult their bank or a financial advisor before doing so.

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