Financial Aid Programs

General Requirements:

Free Application for Federal Student Aid (FAFSA) for 2008-2009
Declaration of Outside Tuition Assistance Form (if required) - If you are receiving tuition assistance,complete form and submit to Financial Aid office for 2008-2009
Have official copy (sealed)of high school transcript or proof of an associate's or bachelor's degree sent to Franklin University, Transfer Credit Office
You must be degree-seeking to receive assistance. Students with a previous bachelor's degree are ineligible for federal and state grants, but you may be eligible for student loans
In general, to receive aid from the student aid programs, students must:
- have financial need, except for some loan programs;
- be a U.S. citizen or eligible noncitizen;
- make satisfactory academic progress;
- be registered with the Selective Service, if required;
- be enrolled at least half-time.

Priority Processing Deadlines for 2008-2009:

Summer 2008 - March 15, 2008
Fall 2008 - June 15, 2008
Winter 2008 - October 15, 2008

Financial Aid Program Descriptions

Federal Pell Grant (PEL) - Undergraduate
Ohio Instructional Grant (OIG) - Undergraduate
Ohio Student Choice Grant (OSC) - Undergraduate
Ohio College Opportunity Grant (OCOG) - Undergraduate
PHEAA Grant - Undergraduate
Federal Supplemental Educational Opportunity Grant (SEOG) - Undergraduate
Federal Academic Competitivness Grant (ACG)- Undergraduate
Federal Science and Math Academic Retention of Talent Grant (SMART) - Undergraduate
Federal Work Study Program - Undergraduate/Graduate
Schell Loan Program - Dependent/Undergraduate
Federal Subsidized Loan Program - Undergraduate/ Graduate
Federal Unsubsidized Loan Program - Undergraduate/Graduate
Federal Parent Loan for Undergraduate Students (PLUS) - Dependent/Undergraduate
Federal Graduate PLUS Loan - Graduate

Federal Pell Grant - Undergraduate
Description	Federal government grant, based on need Repayment not required Available for full and part-time students
How to Apply	Complete general requirements
Amount 08-09	$523- $4,731 per year
Deadline	Processed in dated order
Ohio Instructional Grant (OIG) - Undergraduate
Description	State of Ohio grant, based on need Must be a full-time student Seeking first associate's or bachelor's degree Available for tuition only Ohio residency of 1 year required Selective Service Registration required If you are eligible for OCOG, you are not eligible for OIG
How to Apply	Complete general requirements
Amount 08-09	$222-- $2,733 per year Maximum of $666 - $8,199 Award based on availability of funds
Deadline for 08-09	Full year award: October 1, 2008
Ohio Student Choice Grant (OSC)
Description	State of Ohio grant, not based on need Must be a full-time student Seeking first bachelor's degree Available for tuition only Ohio residency of 1 year required No full-time attendance prior to July 1, 1984
How to Apply	If you are not completing a FAFSA application and you are only applying for the OSC, complete the appropriate year application: 2008-2009 (Summer 2008; Fall 2008; Winter 2009)
Amount 08-09	Estimated $330 per term (received for only two terms per award year); maximum of $660 per year
Deadline for 08-09	April 1, 2009
Ohio College Opportunity Grant (OCOG)
Description	Same as OIG, but can be full or part time Freshman, Sophomore, and Junior class level In general, have not attended any college prior to 2006-07 award year (i.e.., prior to SU/06) If eligible for OIG, not eligible for OCOG
How to Apply	Complete general requirements
Amount 08-09	$75 - $2,496 per term $225 - $7,488 per year
Deadline 08-09	Full year award: October 1, 2008
Pennsylvania Higher Education Assistance Agency (PHEAA)
Description	This program allows eligible Pennsylvania residents to obtain financial assistance for undergraduate study at any PHEAA-approved institution of higher education Meet criteria for financial need Must be enrolled at least half-time in a PHEAA-approved undergraduate program of study and not already have a 4-year (or more) undergraduate degree At least 50% of the total credits/clock hours required for completing the program of study must be earned through face to face classroom instruction Be a Pennsylvania resident for at least 12 months before applying for this grant
How to Apply	apply at www.pheaa.org For more information, call toll-free: 1.800.692.7392
Deadlines:	May 1 for: 1) all renewal applicants, 2) new applicants who plan to enroll in an undergraduate baccalaureate degree program, and 3) those in college transfer programs at two-year public or junior colleges August 1 for first-time applicants who plan to enroll in: 1) a business, trade, or technical school, 2) a hospital school of nursing, or 3) a two-year terminal (i.e., non-transferable two-year degree) program at a community, junior, or four-year college
Federal Supplemental Educational Opportunity Grant (SEOG) - Undergraduate
Description	Federal grant, based on high need Available for full and part-time students
How to Apply	Complete general requirements
Amount 08-09	Maximum of $400 per term; $1,200 per year; award based on availability of funds
Deadline 08-09	Meet priority deadline for the first trimester of enrollment of award year
Federal Academic Competitiveness Grant (ACG)
Description	Federal grant, based on need Must have Pell eligibility First and second year students Requires completion of Rigorous High School Program of Study Available to full-time students Repayment not required
How to Apply	Complete general requirements Must self-identify on the FAFSA Must have official high school transcript and all official college transcripts on file
Amount 08-09	First year - up to $750 Second year - up to $1,300
Deadline 08-09	Processed in dated order
Federal National Science and Mathematics Access to Retain Talent Grant (SMART)
Description	Federal grant, based on need Must have Pell eligibility Junior and Senior class level Available to full-time students Limited to Programs of Study: Computer Science, Digital Communications, Information Technology, and Web Development GPA of 3.0 or higher Repayment not required Must be enrolled in at least one course each term that meets the specific requirements of the student's National SMART Grant-eligible major
How to Apply	Complete general requirements Official transcripts from all previous colleges must be on file with Franklin
Amount 08-09	Up to $4,000 each year
Deadline 08-09	Processed in dated order
Apply for Federal Work Study Program - Undergraduate/Graduate
Description	On campus employment Must be enrolled at least half-time Work with university faculty and staff Receive paycheck twice a month
How to Apply	Complete general requirements; and submit FWS employment application to Human Resources
Amount 08-09	$3,500 (estimated) per term
Deadline for 08-09	Preference to students who meet priority deadline
Schell Loan Program
Description	Registered at least half time Must have completed 30 hours at Franklin with a minimum 3.0 GPA U.S. citizen 25 years of age or less Not receiving any grants/scholarships
How to Apply	Contact Financial Services for an appointment
Amount for 08-09	Up to $200 per credit hour
Deadline for 08-09	None
Federal Subsidized Loan Program - Undergraduate/ Graduate
Description	Federal loan, based on financial need Interest rate is fixed at 6.8% ; 6.0% as of 07/01/08 Origination and/or federal default fee may be charged by guarantor Must be enrolled at least half-time Repayment begins when you graduate or cease to be enrolled at least half-time for a period of at least six months 10 year repayment Interest paid by federal government while in school, during deferment, or during grace period
How to Apply	Complete a Master Promissory Note; Complete general requirements; Complete a Student Loan Entrance Interview (for first time borrowers);
Amount July 1, 2008 through July 1, 2009	Undergraduate: Freshman: $3,500 Sophomore: $4,500 Junior/Senior: $5,500 Aggregate: $23,000 Graduate: Yearly: $8,500 Aggregate: $65,500
Deadline for 08-09	Processed in dated order through March 1, 2009
Federal Unsubsidized Loan Program - Undergraduate/Graduate
Description	Federal loan, not based on financial need Same as Federal Subsidized Stafford loan except borrower is responsible for accrued interest while in school, during deferment, or grace period
How to Apply	Same as Federal Subsidized Stafford Loan
Amount: July 1, 2008 through June 30, 2009	Undergraduate: Freshman: $9,500* Sophomore: $10,500* Junior/Senior: $12,500* Aggregate Undergraduate Total Sub and Unsubsidized: $57,500* Graduate: Total Sub: $8,500 Total Unsubsidized: $12,000 Aggregate Annual: $20,500 Aggregate Total: $138,500* * less Federal Stafford Subsidized eligibility
Deadline for 08-09	Processed in dated order through March 1, 2009
Federal Parent Loan for Undergraduate Students (PLUS) - Dependent/Undergraduate
Description	Federal loan for parents of dependent students, not based on financial need Interest rate is fixed at 8.5% Guarantor/lender may charge an origination and/or federal default fee At least half-time enrollment required Repayment begins within 60 days after the final disbursement for the academic year; Repayment may be deferred if certain conditions are met
How to Apply	Complete general requirements; Applications options: 1) Electronically 2) Paper Application - through a lender. Application must be submitted to Financial Aid
Amount	Cost of education, minus other financial aid
Deadline for 08-09	Processed in dated order through March 1, 2009
Graduate PLUS Loan
Description	Federal loan for graduate students, not based on financial need Interest rate is fixed at 8.5% Guarantor/lender may charge an origination and/or federal default fee At least half-time enrollment required Must have applied for the annual loan maximum in subsidized and unsubsidized loans before applying for GRAD PLUS loan Repayment begins within 60 days after the final disbursement for the academic year; Repayment may be deferred if certain conditions are met
How to Apply	Complete general requirements; Applications options: Electronically Paper Application - through a lender. Application must be submitted to Financial Aid Must complete Student Loan Entrance Counseling
Amount	Cost of education, minus other financial aid
Deadline for 08-09	Processed in dated order through March 1, 2009

Financial Aid Programs

General Requirements:

Priority Processing Deadlines for 2008-2009:

Financial Aid Program Descriptions

Federal Pell Grant - Undergraduate

Ohio Instructional Grant (OIG) - Undergraduate

Ohio Student Choice Grant (OSC)

Ohio College Opportunity Grant (OCOG)

Pennsylvania Higher Education Assistance Agency (PHEAA)

Federal Supplemental Educational Opportunity Grant (SEOG) - Undergraduate

Federal Academic Competitiveness Grant (ACG)

Federal National Science and Mathematics Access to Retain Talent Grant (SMART)

Apply for Federal Work Study Program - Undergraduate/Graduate

Schell Loan Program

Federal Subsidized Loan Program - Undergraduate/ Graduate

Federal Unsubsidized Loan Program - Undergraduate/Graduate

Federal Parent Loan for Undergraduate Students (PLUS) - Dependent/Undergraduate

Graduate PLUS Loan

updated 07.22.08