Approximately 60% of the students at Franklin & Marshall receive some form of financial aid from a variety of institutional, public and private sources. The College’s financial aid policy reflects a desire to attract and retain a diverse student body of the highest possible promise. For those students to whom need-based aid is offered, the College strives to meet the majority of demonstrated need with grant funding. In most cases, the College packages several forms of financial aid, usually combining a grant with a student employment opportunity and loan.
Franklin & Marshall is a member of the College Board and the College Scholarship Service (CSS) and subscribes to that organization’s principles of financial aid. Need-based grants are provided to students who have demonstrated financial need as determined from information submitted on the CSS/PROFILE form, the Free Application for Federal Student Assistance (FAFSA), federal tax documents (return, schedules, W-2s) and if applicable, the Noncustodial CSS/Profile form.
As the student is the primary beneficiary of the education, Franklin & Marshall assumes that each family will first make a reasonable sacrifice in financing its son’s or daughter’s education before applying to the College for assistance. Students receiving financial aid from the College are expected to work during the summer to earn funds for their education. In addition, all applicants must apply for any state, federal, or other awards for which they may be eligible. Expected federal and state grants usually replace institutional grants. Failure to complete all applications for federal and state grants or to submit all materials by the appropriate deadlines could result in the loss of institutional funding.
For the purposes of awarding federal, state and institutional financial aid at Franklin & Marshall College, the Academic Year is defined by the Academic Calendar and comprised of two 15-week semesters. In addition to standard term awarding, students may receive federal or state aid for the summer terms, provided they enroll in at least two courses at Franklin & Marshall College. They may also receive federal or state aid when attending other colleges in the summer, provided they enroll in the equivalent of six semester hours and complete a Consortium Agreement provided by the Office of Financial Aid.
Institutional financial aid may only be received for a maximum of eight semesters. Federal financial aid requires a student to meet the Federal Satisfactory Academic Progress standards that are listed on the Office of Financial Aid's website.
JOHN MARSHALL FELLOWS
The John Marshall Fellow Program supports a limited number of students who, during their first year at Franklin & Marshall, have demonstrated unusual motivation, spirit of achievement and independence of thought. The program was created on the premise that bright, curious minds flourish best when challenged in an environment that gives highest priority to individual interests and abilities. The Marshall Fellow is eligible to apply for a $4000 research/travel grant to enhance the Fellow’s ability to engage in unique and personal academic pursuits, for example, supporting an on-campus research project, doing research in another country, presenting research at a professional conference, or completing a public service project. Fellows also receive special opportunities for excursions and on-campus activities.
NATIONAL MERIT SCHOLARS
National Merit Scholars who are designated National Merit Finalists and who notify the National Merit Scholarship Corporation that Franklin & Marshall College is their first choice (by the date specified by the National Scholarship Corporation) will be named National Merit Scholars. These students may receive a National Merit Scholarship Corporation scholarship in addition to any Franklin & Marshall awards that may be granted during the application process.
WILLIAM H. GRAY, JR. SCHOLARS
The William H. Gray, Jr., Scholarship, established by its namesake’s son William H. Gray III, provides need-based financial aid to outstanding students from backgrounds that are traditionally underrepresented in higher education. Gray Scholars are chosen on the basis of potential for achievement as demonstrated by academic strength, leadership ability and commitment to service. The financial aid package for Gray Scholars is designed to reduce loan and job expectations over the course of four years. Gray Scholars receive student and alumni mentors and can apply for special internships on and off campus. Questions may be directed to the Office of Admission at (717) 358-3951 or (877) 678-9111.