Franklin College awards GPA-based academic scholarships up to $23,000 per year automatically at admission, with an invitation-only Ben Franklin Scholars Day competition (3.9+ GPA, apply by Nov. 1) for awards up to full tuition that stack on top of the existing merit award.
Verified Jun 20264 days ago· COWORK
Merit tiers51 automatic on stats
Last verifiedJun 2026Analyst COWORK
Rules that bite at Franklin College
The trip wires we'd flag in a custom playbook. Each is derived from Franklin College's own published policy, not generic advice.
renewalAcademic Scholarships: renewal floor that quietly knocks awards out
Renewable for all four years; all Franklin College scholarships and grants are renewable for a maximum of eight semesters (fall/spring) of full-time undergraduate enrollment. Reviewed each semester; falling below the minimum GPA triggers one semester of scholarship probation, then reduction to the next level award. A single rough term can end a four-year award here without warning if the GPA floor isn't met cumulatively.
capHard $61,755 cost-of-attendance ceiling
Institutional aid at Franklin College cannot push the package past $61,755. Big outside wins can mathematically reduce institutional grant once the ceiling is reached.
Common merit-aid mistakes at Franklin College
The scholarships page states plainly: 'If you qualify for multiple awards, some of these awards may not be stackable. Award amounts may be adjusted to allow Franklin to support as many students as possible.' Get your combined total in writing. (Exception: the Ben Franklin Scholarship from Scholars Day 'is added to any existing merit scholarship previously granted.')
Full tuition covers the $40,230 tuition charge, not the full 2026-27 on-campus cost of attendance of $61,755 — fees ($1,050), housing ($7,340), food plans ($5,520 + $535 Immersive Term), books, transportation, and personal expenses remain.
To compete for the college's largest awards (up to full tuition), a 3.9+ GPA student's complete application for admission — including all required documents — must be received by November 1st. The event is invitation-only for admitted students.
Eligibility is reviewed at the end of every semester. If you miss the minimum GPA you get one semester of probation at the full amount; if you still haven't reached the minimum after that semester, 'your scholarship will be reduced down to the next level award for the following semester.' The exact GPA minimums per scholarship level are not published — ask for yours in writing.
Franklin College scholarships and grants are renewable for a maximum of eight semesters (fall/spring), and the FAQ confirms 'All Franklin College scholarships and endowments are restricted to eight semesters.'
The financial aid page states 'The COA is the maximum amount of financial aid a student can receive during that academic year' — aid from all sources is capped at the COA for your housing status.
Because the Lilly scholarship covers tuition and fees, Franklin College 'will apply any other financial aid the student may receive from other sources (e.g., Federal, State, or Franklin College) to cover the cost of housing and food' — other aid is redirected, not refunded on top.
Franklin offers this to 'a limited number of Pell Grant eligible 21st Century Scholars with a 3.0 cumulative GPA,' and the combination 'may include federal student loans and work-study awards.' Scholars must also re-file the FAFSA by April 15 every year and complete 30 credits per year to keep state eligibility.
Franklin's priority FAFSA deadline is April 15, which is also the Indiana Commission for Higher Education deadline for state aid (Frank O'Bannon, 21st Century Scholars). The Frank O'Bannon Grant is additionally 'restricted to be used toward the cost of tuition only.'
Who this school is for
Strong-GPA students (the college is test-optional for merit; eligibility is assessed from the official transcript) — especially 3.9+ GPA students who apply by Nov. 1 to compete at Ben Franklin Scholars Day, and Indiana 21st Century Scholars, who can receive up to full tuition plus room and board.
Tuition / cost of attendance: Approximately $61,755 for 2026-2027. Source
Institutional merit aid tiers
Every tier below is sourced to the school’s own published financial aid pages. Renewal terms apply only if the student maintains the stated GPA.
Up to $23,000 per year
Academic Scholarships
AutomaticRenewable
GPA
Awarded based on the student's GPA; specific GPA-to-amount levels not published
SAT
Optional (SAT code 1228)
ACT
Optional (ACT code 1194)
Requirements & details+
Eligibility
Complete Franklin College or Common Application for admission with official transcript; the Office of Financial Aid uses the official transcript to assess merit eligibility — no separate scholarship application
Renewal terms
Renewable for all four years; all Franklin College scholarships and grants are renewable for a maximum of eight semesters (fall/spring) of full-time undergraduate enrollment. Reviewed each semester; falling below the minimum GPA triggers one semester of scholarship probation, then reduction to the next level award.
Notes
No published GPA-to-dollar grid; the page states only a range up to $23,000 per year. The FAQ references scholarship 'levels' but the levels are not published.
3.9 or higher (on a 4.0 scale) at the time of admission
Requirements & details+
Eligibility
Invitation-only competition for admitted students; complete application for admission (including all required documents) must be received by November 1st; day includes an interview, short-answer essay, and group project
Renewal terms
Per the college's Jan. 2026 news release, every Scholars Day attendee left with a renewable award; standard eight-semester maximum applies to all Franklin College scholarships.
Notes
The Ben Franklin Scholarship awarded at Scholars Day is added on top of any existing merit scholarship previously granted. A second Scholars Day was held March 2026 for students unable to attend the December session.
Full tuition and fees…Full tuition and fees, plus a book stipend
Lilly Endowment Community Scholarship
ApplicationRenewable
View requirements+
Eligibility
Awarded through Indiana's county-based Lilly Endowment Community Scholarship Program (selection is external to Franklin College; selection criteria not stated on this page)
Renewal terms
Renewable for all four years.
Notes
Because this scholarship covers tuition, Franklin College applies any other financial aid the student receives (federal, state, or Franklin College) toward housing and food — an explicit aid-redirection rule.
Up to full tuition and room and boa…Up to full tuition and room and board (via combined aid sources)
21st Century Scholars — up to full tuition and room and board (Franklin combination award)
ApplicationRenewable
GPA
3.0 cumulative GPA
Requirements & details+
Eligibility
Must be an eligible Indiana 21st Century Scholar AND Pell Grant eligible; offered to a limited number of students; package may include federal student loans and work-study awards
Renewal terms
21st Century Scholars must file the FAFSA by April 15 each year, complete 30 credits per academic year, meet Satisfactory Academic Progress, and be full-time (at least 12 credits per semester).
Notes
This is Franklin's enhancement of Indiana's 21st Century Scholars state program (which itself pays up to four years of tuition). The 'up to full tuition and room and board' package is need-gated (Pell-eligible), limited in number, and explicitly may include loans and work-study — it is not all gift aid.
Franklin College states outright that if a student qualifies for multiple awards, some may not be stackable, and that award amounts may be adjusted so the college can support as many students as possible. Cost of Attendance is the maximum total aid a student can receive in a year. One exception is stated explicitly: the Ben Franklin Scholarship from Scholars Day IS added to any existing merit scholarship. For Lilly Endowment scholars, other aid is redirected to housing and food rather than stacked on tuition. Treatment of private outside scholarships is not specified (the college encourages applying for them).
Main scholarships page: 'If you qualify for multiple awards, some of these awards may not be stackable. Award amounts may be adjusted...'. Loans section: 'The COA is the maximum amount of financial aid a student can receive during that academic year.' News release: the Ben Franklin Scholarship 'is added to any existing merit scholarship previously granted.' No page found describing how private/outside scholarships specifically affect institutional aid.
Amount$500 - $1,000 per yearEligibilityStudents majoring in art, computing, data science, music, and theatre
Renewable as long as students remain in good academic standing. The application for admission serves as the application, though some departments may require additional information.
What are the scholarship deadlines at Franklin College?
Merit consideration is automatic with a complete admission application (no separate form). Key dates from the college's pages: a complete application must be received by November 1st to qualify for Ben Franklin Scholars Day (awards up to full tuition); the Pulliam Journalism Scholarship essay and application are due Nov. 15; and the FAFSA priority deadline (required for Indiana state aid) is April 15. The college also encourages depositing before May 1 'to maximize consideration for scholarships and financial aid.'
Do I need a separate application or test scores for merit scholarships?
No. Per the financial aid page, you submit a completed application for admission and 'Our Office of Financial Aid will use your official transcript to assess your merit-based scholarship eligibility.' SAT/ACT scores are listed as optional.
When will I find out my merit scholarship?
Per the Admitted Students page, your merit scholarship notification is sent by mail and uploaded to your application portal. 'Those admitted before Dec. 1 will receive scholarship notification before Dec. 31. Students admitted after Dec. 1 will receive notifications on a rolling basis.'
What happens if I don't meet the minimum GPA for my scholarship?
From the college's FAQ: you are placed on scholarship probation for one semester while keeping the full award; if your GPA still hasn't reached the minimum after that semester, your scholarship 'will be reduced down to the next level award for the following semester.' You can appeal any adjustment in writing to the Office of Financial Aid.
How long are scholarships renewable?
Franklin College scholarships and grants are renewable for a maximum of eight semesters (fall/spring) of full-time undergraduate enrollment; fifth-year students remain eligible only for federal aid they qualify for.
Can I bring outside scholarships?
The Admitted Students page says 'We also encourage you to apply for additional outside scholarships,' but no page found states how outside scholarships interact with institutional aid. Note total aid cannot exceed the Cost of Attendance. Ask the aid office whether outside awards reduce institutional scholarships or loans first.
How Franklin College compares across our verified dataset
160 of 751 verified schools in our dataset use cost-of-attendance cap displacement.
Franklin College is in a recognizable cluster (160 schools share this category). That framing matters when comparing peer schools that may publish the policy differently or not at all.
669 of 751 verified schools publish at least one four-year renewable merit award.
Franklin College is one of them. The cohort minority (82 schools) only awards one-year scholarships, which means the four-year value families assume on a brochure quote isn't guaranteed at every school.
Sources used on this page
Every claim is checked against Franklin College’s own published materials. Below is the full reference set.
