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Franklin College scholarships and merit aid

Two prices: the posted one, and yours.

Posted price$61,755per year · 2026-2027 · cost of attendance
Yours?depends on the rules below

The short answer

Franklin College awards automatic merit on admission. Franklin College does not publish a GPA or test chart, so you cannot self-calculate the dollars.

Where does your student land?

Verified Jul 2026
2 school sources to explore

Published rules, with the school sources close at hand. Confirm the details before you count on an award.

The award collection

Published scholarships

These amounts and requirements come from the school’s own published pages. Open an award to see who qualifies and how to keep it.

Where does your student land?

  1. Academic ScholarshipsUp to $23,000 per yearAutomaticRenewable
    Published awardAcademic thresholds

    Academic Scholarships

    Up to $23,000 per year

    Variable or qualified amountAll published eligibility conditions still apply. Confirm the policy year with the school.

    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)
    RenewableCheck the conditions
    Open award details for Academic Scholarships

    Who qualifies

    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

    How to keep it

    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.

    Worth knowing

    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.

  2. Ben Franklin ScholarsUp to full tuitionNot automaticRenewable
    Published awardOther selection criteria

    Ben Franklin Scholars

    Up to full tuition

    Variable or qualified amountNot recorded as automatic on grades and scores. Read the selection rules. Confirm the policy year with the school.

    GPA
    3.9 or higher (on a 4.0 scale) at the time of admission
    RenewableCheck the conditions
    Open award details for Ben Franklin Scholars

    Who qualifies

    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

    How to keep it

    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.

    Worth knowing

    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.

  3. The National Pulliam Journalism ScholarshipFull tuitionNot automaticRenewable
    Published awardOther selection criteria

    The National Pulliam Journalism Scholarship

    Full tuition

    Published coverage or packageNot recorded as automatic on grades and scores. Read the selection rules. Confirm the policy year with the school.

    GPA
    Minimum 3.0 (on 4.0 scale)
    RenewableCheck the conditions
    Open award details for The National Pulliam Journalism Scholarship

    Who qualifies

    Must apply to one of the multimedia journalism majors and submit the required essay and application by Nov. 15; one award per year

    How to keep it

    Renewal terms not stated on the page; all Franklin College scholarships and grants are renewable for a maximum of eight semesters.

    Worth knowing

    One full-tuition scholarship awarded each year, endowed by the late Eugene C. Pulliam.

  4. Lilly Endowment Community ScholarshipFull tuition and fees, plus a book stipendNot automaticRenewable
    Published awardOther selection criteria

    Lilly Endowment Community Scholarship

    Full tuition and fees, plus a book stipend

    Published coverage or packageNot recorded as automatic on grades and scores. Read the selection rules. Confirm the policy year with the school.

    Start with the award’s published eligibility.

    RenewableCheck the conditions
    Open award details for Lilly Endowment Community Scholarship

    Who qualifies

    Awarded through Indiana's county-based Lilly Endowment Community Scholarship Program (selection is external to Franklin College; selection criteria not stated on this page)

    How to keep it

    Renewable for all four years.

    Worth knowing

    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.

  5. 21st Century Scholars — up to full tuition and room and board (Franklin combination award)Up to full tuition and room and board (via combined aid sources)Not automaticRenewable
    Published awardOther selection criteria

    21st Century Scholars — up to full tuition and room and board (Franklin combination award)

    Up to full tuition and room and board (via combined aid sources)

    Variable or qualified amountNot recorded as automatic on grades and scores. Read the selection rules. Confirm the policy year with the school.

    GPA
    3.0 cumulative GPA
    RenewableCheck the conditions
    Open award details for 21st Century Scholars — up to full tuition and room and board (Franklin combination award)

    Who qualifies

    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

    How to keep it

    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).

    Worth knowing

    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.

Lights up against Franklin College's published cutoffs. Not an award offer; confirm with the financial aid office. Award terms and residency rules change; some awards differ for in-state and out-of-state students. Always confirm at the school’s source page.

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The fine print

Renewal ruleAcademic 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.

Aid 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.

What makes Franklin College different

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.

Merit tiers51 based on grades or scores
Research checkedJul 2026By our research team

More than one award path

Separate the two paths.

Some awards use published academic thresholds. Others have different selection criteria. A score chart does not describe every award at this school.

  1. Match the published criteria

    Use all requirements together, including residency and the entering class.

  2. Check the application dates

    Confirm the current admission and scholarship deadlines directly with the school.

  3. Know what happens next year

    Check renewal, credit requirements and how other aid affects the award.

The fine print / Three questions to carry forward

Before you count on it.

Does it apply to us? Confirm the entering year, residency and every eligibility condition.

Can we keep it? Check renewal GPA, credits and how long the award lasts.

Can we combine it? Ask how outside scholarships and other school awards change the offer.

Take Franklin College's decision sheet

A printable research summary, source links and room for your questions.

See what could change an award

What families often miss

  1. 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.')

  2. 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.

  3. 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.

  4. 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.

  5. 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.'

  6. 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.

  7. 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.

  8. 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.

  9. 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.'

See costs and school data

Who this school may work 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.

Published yearly cost: Approximately $61,755 for 2026-2027. Source

Cost and graduation facts

Federal reporting on who actually enrolls at Franklin College, what they paid after aid, and what happened next — independent of anything the school markets.

Average annual net price by family income at Franklin College, academic year 2021-22
Family incomeAverage net price paid
$0–$30,000$14,790
$30,001–$48,000$15,822
$48,001–$75,000$20,093
$75,001–$110,000$23,439
$110,001+$30,316
All income levels (average)$22,855

Sticker price vs. what students actually pay

Published tuition & fees, AY 2022-23
$38,710
Average net price paid (all Title-IV aid), AY 2021-22
$22,855

That works out to roughly a 58% discount below the federal AY 2021-22 average cost of attendance of $54,178 (College Scorecard — a separate, federally reported figure, not the published cost of attendance shown above).

Outcomes for students who enrolled here

Graduation rate (150% of normal time), 2016 cohort
60%
First-year retention rate, 2021 cohort
73%
Median debt at completion, 2020–2021 completers
$27,000 (~$286/mo on a 10-yr plan)
Median earnings, 10 years after entry (measured 2020-21)
$55,376
Share of students receiving a Pell grant, AY 2021-22
38%
Share of students receiving a federal loan, AY 2021-22
64%
See other scholarships and cost examples

If your student brings another scholarship

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.

Source

Other Franklin College scholarships worth checking

These awards can be harder to find. Each one has its own rules.

AmountUp to $2,000 per yearEligibilityAdmitted students who have a parent, grandparent or sibling who graduated from Franklin College

Renewable for all four years.

Source

Amount$500 per studentEligibilityFamilies who have multiple students attending Franklin College simultaneously

Renewable for each year the students are concurrently enrolled.

Source

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.

Source

Franklin College merit aid FAQ

  • 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.

See sources and other schools

How Franklin College compares

  • 235 of 749 verified schools in our dataset use cost-of-attendance cap displacement.

    Franklin College is in a recognizable cluster (235 schools share this category). That framing matters when comparing peer schools that may publish the policy differently or not at all.

  • 665 of 749 verified schools publish at least one four-year renewable merit award.

    Franklin College is one of them. The cohort minority (84 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.

Compare with similar schools

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