Financial Aid
Meeting Talented Students Where They Are
We offer multiple forms of aid to make our extraordinary education affordable to all deserving students:
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- Need-Based Aid
- Merit & Dedicated Scholarships (determined by the Office of Admission)
- Athletic Scholarships (Division I only; determined by F&M Athletics)
Need-based and merit-based financial aid is not mutually exclusive; you can qualify
and receive both. If you’re admitted to F&M, we will meet 100% of your institutionally
determined financial need for all four years on campus.
What Does it Cost to Attend Franklin & Marshall College?
Also known as Cost of Education, this is the total cost of educating an F&M student
for an entire academic year. The COA includes actual Direct Costs and estimated Indirect
Costs.
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65% of F&M students receive some sort of need-based aidNeed-Based Aid at F&M
Our investment in need-based financial aid has enabled us to enroll talented students
of all backgrounds who have earned the opportunity to benefit from an F&M education.
We are proud that F&M is a dynamic campus where students of myriad cultures and diverse
ethnic and socioeconomic backgrounds can exchange ideas, learn from one another, and
grow together. Each year, F&M continues to reimagine the definition of need, expanding
the eligibility for students from all backgrounds.
How We Determine Financial Need
Our Formula to Determine Need-Based Aid
Need-based financial aid programs were created with the idea that the primary responsibility for paying college costs rests with the student and their family.
The formula used to determine need-based aid is:
Cost of Attendance (COA) - Expected Family Contribution (EFC) - Non-need-based aid (i.e. Merit Scholarships) = Need-Based Financial Aid
Criteria Used in Determination of the Expected Family Contribution (EFC)
- Total Income* (adjusted gross income (AGI) plus all untaxed income)
- Number of children/student’s siblings enrolled full-time in a four (4) year undergraduate degree program.
- Both biological or adoptive parents’ information, as well as step-parents’ information.
- A minimum student earning contribution of $1,550 is expected in the first academic year. A minimum contribution of $2,150 will be expected for each of the next three (3) academic years.
- The formula may assess stock losses or depreciation and similar income paper losses tied with S-corporations, LLCs, partnerships, and/or sole proprietorships
- Home Equity (value minus debt owed) in a family’s primary home of residence — up to 120% of total income*. (NOTE: Value listed on the CSS Profile will be compared and updated to the value listed on Zillow.)
Criteria Not Used in the Determination of the Expected Family Contribution (EFC)
- Value of tax-sheltered retirement accounts
- A family's consumer debt level, which includes, but is not limited to, credit card debt, automobile loans, prior student loans, and home mortgage payments
- Private secondary school, community college, or graduate school tuition and expenses for siblings.
Calculate Your Cost
We offer two options to help you estimate your personal cost of an F&M education. While these tools are useful for college planning, they also have limitations. Please carefully read the introductory and explanatory information provided with each calculator.
These tools are available to U.S. citizens only.
MyinTuition
MyinTuition is most appropriate for prospective students and families looking for a quick ballpark estimate. It gives a range of expected costs for 90% of families in a similar situation.
Additional Resources
Types of Aid Available
Financial aid typically comes in three forms: grants and scholarships, loans, and work-study.
Early Financial Aid Estimate
We understand that many families need to know how much financial aid they may receive before committing to F&M via Early Decision. We can provide you with an early estimate of the need-based financial aid for which you might qualify. This is an estimate only, not a guaranteed financial aid package. It also doesn’t guarantee or imply admission.
Read Our Financial Aid Policies
Explore F&M guidelines and regulations related to financial aid.
We Offer Financial Aid for International Students
Reflecting our commitment to a diverse student body, we are proud to offer need-based
financial aid to international students. This means that if you are admitted to F&M,
we will meet 100% of your institutionally determined financial need for all four years
on campus. Please keep in mind that while the amount of aid is generous, it is also
limited, so we encourage you to apply early.
Read More »
The Impact of Financial Aid at F&M
Video by Andrew Bilindabagabo
June 11, 2025
“We Ought to be Leading the Charge”: A Family's Gift in Support of Financial Aid
For Cheryl and Fred Scarboro P’26, supporting Franklin & Marshall College has become a deeply personal investment — one rooted in their son Alex’s outstanding experience and their shared belief that an F&M education transforms lives.
March 13, 2025
Turning College Dreams Into Global Goals
With a passion for psychology and natural gift for helping others, April Rump ’25 set her sights on F&M, a college she said “just felt right.” Financial aid played a crucial role in her journey, empowering her to not only attend F&M, but study abroad as well. “F&M provided the space for me to grow and explore, making a difference in my life in ways I never imagined,” she said.
March 7, 2025
Preparing to Make Real Change in Public Health Advocacy
Anaya Peguero ’25 quickly found that F&M professors saw her promise — and would challenge her to fulfill her potential and own her influence.
The tremendous success of F&M graduates demonstrates the tangible value of an F&M
degree when compared to national outcomes. Within six months after graduation, 92%
of the Class of 2024 were either employed or furthering their education. This is higher
than the national average, which is typically in the mid-80% range.The Lasting Value of an F&M Education
Contact the Financial Aid Team
Do you have questions about financial aid at F&M? You have an assigned financial aid expert based on the first letter of your last name. If you need help, you can reach out to them!
Mailing Address
P.O. Box 3003
Lancaster, PA 17604-3003
Phone Number
717-358-3991
financialaid@fandm.edu