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Applying for Loans
When it comes to applying for loans, students and their parents can rest assured that Franklin College tries to make the process as easy as possible. Please feel free to call the Office of Financial Aid with any questions at (317) 738-8075 or by emailing firstname.lastname@example.org.
As an alternative to the semester billing cycle and a tool to help reduce loan debt Franklin College offers an extended payment plan through Tuition Management Systems (TMS). Students should contact the business office with questions concerning billing options at 317-738-8031.
To apply for Stafford loans, click the link above and sign-in to complete the subsidized/unsubsidized Master Promissory Note (MPN) and Entrance Counseling. To preview the screens you will encounter during this process, click here.
To apply for a Federal Parent PLUS loan, click the link above , sign-in and complete the "Request a PLUS Loan" section and complete the Parent PLUS loan Master Promissory Note (MPN).
These loans are available to students from private lenders for additional funding assistance if you have exhausted all other sources of educational funding. Franklin College strongly urges students to utilize all of your eligibility for scholarships, grants and Federal loans before applying for a private loan. These loans typically have variable and higher interest rates and fees depending on the credit worthiness of the borrower and cosigner. Private loan lenders have different eligibility requirements, loan rates, repayments terms and conditions.
Listed below are two application tools that will provide access to mutiple lenders. Both FASTChoice and the ISM Marketplace will allow you to compare lenders and rates for possible alternative loans. As a borrower, you have the option to select any lender you choose. If you have any questions regarding the process used to select the lenders included in FASTChoice or the ISM Marketplace, please contact the Office of Financial Aid.
Franklin College adheres to the Financial Aid Code of Conduct based on the Higher Education Opportunity Act of 2008.
- Private student loans are variable and fixed interest programs with interest that accrues while the student is in school
- Students (or co-borrowers) must have a good credit history to obtain private student loans.
- Private student loans must be certified for the amount requested, up to the Cost of Attendance minus other financial aid the student is receiving at the time of certification.
Truth in Lending Requirements
As of February 2010 all private loan lenders are required to provide student borrowers three disclosure statements and a new Self Certification Form prior to the school being able to certify the loan. The Self Certification Form is to be completed by the student and returned to the lender. A waiting period of 3 business days is required between the time the borrower received the final loan disclosure and the time the loan is disbursed.
Disclosures the student will receive:
- Application Disclosure
- Loan Approval Disclosure
- Final Disclosure (prior to disbursement)
It is important to be timely in providing all information to your lender and acknowledging the above disclosures. Failure to do so will delay disbursement.
2012-2013 Cost of Attendance
The Cost of Attendance (COA) for the academic year (fall and spring semesters) includes tuition, room, board, books, transportation, fees and other miscellaneous personal expenses that Franklin College has included in your overall financial aid budget. The COA is the maximum amount of financial aid a student can receive during that academic year.
All students applying for a private education loan are required to complete a Self Certification Form indicating the COA amount for Franklin College and the student’s total financial aid. Listed are the COA figures to be used when completed the Self Certification Form.
|Living On Campus||38,845|
|Living with Parent||33,795|
|Living Off Campus||38,295|
If you have questions about your cost of attendance or total financial aid please contact the financial aid office by e-mailing email@example.com or calling 317-738-8075.
Please note that if you are studying abroad or taking a winter term trip you will need to contact the financial aid office to get your COA.