Students and their parents are entitled to complete confidentiality of all financial aid information submitted to the College. The Office of Financial Aid will not release any financial aid information about a student to any agency outside the College, unless the student has completed a waiver authorizing such disclosure, except as required by law.
All students are entitled to the counseling services of the Financial Aid staff. Appointments are recommended.
Students whose family circumstances change should contact the Office of Financial Aid to determine if there is additional eligibility for need-based financial aid. They are encouraged to discuss the circumstances with members of the Financial Aid staff at any time during the school year and to ask for full explanation of any decisions made.
Students are responsible for the completeness and accuracy of information provided on all applications for financial assistance and for meeting application deadlines.
Students who are awarded financial aid must sign an affidavit of intent to use federal aid only for College-related costs, and to complete required acknowledgments of funds and necessary forms, notes and schedules. They must also file the Selective Service Statement of Registration Compliance. Students who work at the College must complete forms I-9 and W-4 at the Payroll Office.
All applicants for financial aid are required to apply for Pell Grants, state scholarships and any other aid sources for which they may be eligible.
Students who receive aid from sources outside the College are required to report these awards to the Office of Financial Aid; in that case, aid awarded by the College may be adjusted.
Students whose parents are separated or divorced should file two applications. The parent (and current spouse, if applicable) with whom the student resides submits the FAFSA and the College Board CSS/PROFILE directly to the appropriate processing agency. The other parent submits the Non-Custodial Profile online at www.collegeboard.com. Appropriate stepparent income and assets must be shown on both applications.
Students may reduce or reject any portion of their aid packages by notifying the Office of Financial Aid. Explanations of supplementary resources are helpful in determining the next year’s needs analysis.
Note: Students must contact the Office of Financial Aid if they are considering withdrawal from the College and/or a leave of absence.
Withdrawals and Leaves of Absence
The federal government prescribes the treatment of Title IV aid in the event a student withdraws. At Franklin & Marshall, all leaves of absences, whether informal or formal, are treated as withdrawals for the purpose of returning Title IV aid. When the Office of Financial Aid receives notice of a leave of absence or withdrawal from Franklin & Marshall from Student Academic Affairs, the Office must calculate the percentage of the semester that the student was enrolled. If the student withdraws after the semester is 60% completed, the student has earned all Title IV aid for the semester and no funds will be returned to the federal government. If the student withdraws prior to the 60% point in the semester, the percentage of the funds that were not earned will be returned in the following order:
• Unsubsidized Stafford Loan
• Subsidized Stafford Loan
• Perkins Loan
• PLUS Loan
• Pell Grant
• Other Title IV programs
If the student has received a refund credit prior to withdrawing, the student will be responsible for repayment of the Title IV funds per Return to Title IV requirements, either to the College or the federal government. The College will notify the student of his or her responsibilities regarding the repayment of unearned Title IV funds that have already been disbursed and refunded to the student.