Policy & Procedures
Academic Year: As Defined for Purposes of Need-Based Financial Aid
The academic year is defined as no fewer than 30 weeks which encompass the fall semester and spring semester, generally beginning in late August/early September through mid-December and mid-January through mid-May. The specific dates of the academic year are indicated by our Registrar's Office.
Campus Employment and Incomplete Financial Aid Files
Full-time, enrolled students who have not completed their financial aid file, will not be eligible to be hired for or begin work in any campus-based (College Funded) job.
Dependent to Independent Status Change
Students who enter the College as traditional full-time, degree seeking dependent students will remain as dependent students (in terms of institutional financial aid) throughout their enrollment to graduation, regardless of what age that may occur.
Students who enter as dependent students whose enrollment is prolonged (and approved as such by the College) beyond the age of federally determined independent student status may be considered for federal aid via the FAFSA as an independent student; however, these students will remain as dependent students for institutionally determined financial aid and will need to include their parent(s) information as part of the application process for institutional financial aid via the College Board/CSS Profile.
One general example: A dependent student who entered the college as a full-time, degree seeking, first-year student at age 18 who applies for full consideration of financial aid would, in that year, need to include his/her parent(s)' information as part of the FAFSA and the Profile. If this student were to take a College-approved extended leave of absence and return with approval to the College to complete his/her degree at, say, age 27, the student would be directed to submit the FAFSA as an independent student without parental information; however, the student, should he/she wish to apply for institutional aid would be required to submit parental information as part of the Profile application.
Documents - How to Submit Required Documents
When you file the CSS/PROFILE, College Board will notify you on how to submit specific required documents via IDOC.
Drug and Alcohol Policy Notification: Required of Institutions That Disburse Federal Aid
A school that participates in any FSA program must annually distribute the following information to its students, faculty and employees to prevent drug and alcohol abuse:
- information on preventing drug and alcohol abuse:
- standards of conduct that clearly prohibit, at a minimum, the unlawful possession, use or distribution of drugs and alcohol by students and employees on the school’s property, or as part of the school’s activities;
- a description of the sanctions under local, state and federal law for unlawful possession, use or distribution of illicit drugs and alcohol;
- a description of any drug and alcohol counseling, treatment or rehabilitation programs available to students and employees;
- a description of the health risks associated with the use of illicit drugs and alcohol; and
- a clear statement that the school will impose sanctions on students and employees for violations of the standards of conduct (consistent with local, state and federal law) and a description of these sanctions, up to and including expulsion, termination of employment and referral for prosecution.
If new students enroll or new employees are hired after the initial distribution for the year, the school must make sure that they also receive the materials.
Reference: 34 CFR 668.14(c); The Federal Student Financial Aid Handbook, Volume 2, Chapter 6; Common Manual, Chapter 4.
Employee Tuition Benefits
Employee tuition benefits that travel with a dependent student whose parents work at other institutions of higher education or organization will be included in the student's financial aid package. These benefits are beneficial to the student regardless of how they interact with other aspects of the need-based financial aid package. Students are required to report employee tuition benefit received to the Office of Financial Aid.
For students who qualify for need-based financial aid, the employee tuition benefit will be added on top of the package up to meeting full Federal demonstrated need; similarly to the way we include Outside Scholarships in packaging. Any amount of the benefit that exceeds Federal demonstrated need will reduce other components of the financial aid package by the overage amount.
The College will first reduce the self-help portion (loans and/or job) of the need-based aid package that has already been provided to the student. The order of the reduction will be Federal Work Study, F&M Loan, and Federal Direct Loan.
If necessary, the College's need-based gift aid (i.e. Trustee Grant) would then be reduced dollar for dollar at the point where the employee tuition benefit and the College's need-based gift aid begin to exceed the higher of the student's calculated federal or institutional financial need.
Enrollment Status and Institutional Aid
Enrollment Status and Institutional Aid: Institutional aid, both need-based and non-need based, is limited to students who are enrolled full-time - three (3) or more F&M credits per semester. Students who drop below three (3) F&M credits (full-time enrollment) in a semester, are no longer eligible to receive institutional aid. When a student reduces their enrollment status to less than full-time, the Office of Financial Aid will make the appropriate changes to the student's financial aid package following notification from the Dean's Office.
Student Employment: Campus-based employment is available only to full-time enrolled students. When a student employee reduces their enrollment status to less than full-time, they are required to notify their campus employer/supervisor, resign from their campus employment, and contact the Office of Financial Aid.
Financial Aid and Your eBill
Financial aid is applied to your bill with the first two (2) weeks of the fall semester and the first two (2) weeks of the spring semester. It will disburse from the Federal agency, lending agency, or the College itself as an electronic funds transfer (EFT) or paper check to the College's Business Office.
GMAT Fee Waivers
Franklin & Marshall College does not offer waivers for the GMAT. Students must contact the college/university to which they are applying for the waiver.
GMAC, the Graduate Management Admission Council, allows students with financial need the opportunity to take the GMAT for free through the GMAC Fee Waiver Program. These fee waivers are provided by GMAC to the colleges/universities, rather than directly to test takers. Each institution is limited to requesting 10 fee waivers per year.
While colleges/universities are encouraged to include these fee waivers in their need-based scholarship and financial aid programs, each institution has the discretion to determine which students are in need. Because of this, the process for requesting and obtaining one of these fee waivers varies from institution to institution. Contact the college/university directly to learn their process and rules regarding the GMAC Fee Waiver Program.
GRE Fee Reduction
To be considered for a GRE Fee Reduction Certificate, you must be a college seniors and:
- A dependent, who has a FAFSA on file with the Office of Financial Aid that shows a parental contribution of not more than $2,500 for the senior year, or whatever the threshold amount as indicated by ETS.
- Or, self-supporting and have a FAFSA on file with the Office of Financial Aid that shows a contribution of not more than $3,000 for the senior year or whatever the threshold amount as indicated by ETS.
To request the GRE Fee Reduction Certificate:
Institutional Aid - 8 Semester Limit
Returning students with demonstrated need can receive institutional aid for up to eight (8) semesters as long as they remain in good academic standing and submit the required documents (FAFSA, CSS/PROFILE, federal tax documents (tax return, all schedules, and all W-2s) by APRIL 30th.
Leave of Absence/Withdrawal from all Classes and Its Impact on Federal Financial Aid.
The 1998 amendments to the Higher Education Act made substantial changes to the way an institution will treat a student who fails to complete a period of attendance for which he or she has been charged.
A student who withdraws from all classes may only keep the financial aid they have earned up to the time of withdrawal. Title IV funds that were disbursed in excess of the earned amounts must be returned.
The Return of Title IV Funds policy states that a student has earned the portion of Title IV aid which directly corresponds to the percentage of days completed within an academic term up to and including 60% of the term. Once a student has completed more than 60% of the term, the student has earned 100% of his/her Title IV aid. All calendar days within an academic term are counted except for periods of five days or longer when the school is not in session.
If a refund is due by the school, it will be made to the appropriate Title IV fund within 45 days of the date of official withdrawal or within 45 days of the date of determination of withdrawal if the student does not officially withdraw.
The order of refunds is as follows:
- Federal Direct Unsubsidized Stafford Loan
- Federal Direct Subsidized Stafford Loan
- Federal Perkins Loan
- Federal Direct PLUS Loans
- Federal PELL Grant
- Federal SEOG
Examples of Title IV funds calculations are available upon request from the Financial Aid office.
Not accepting student loans will not affect your current or future financial aid. However, should you submit an appeal, this information will be considered in the review process.
Students who have institutional need-based financial aid may have the $600 Artist-Teacher fee credited to their account. To be considered for the coverage, the student must be receiving and have accepted the full amount of ALL federal and institutional need-based aid programs listed below.
- Franklin & Marshall need-based grant(s) and scholarship(s).
- Federal Direct Subsidized Loan, Federal Perkins Loan (if you have been offered a Federal Perkins Loan) and F&M institutional Loan (if you have been offered an F&M institutional Loan).
The Office of Financial Aid will credit $600 to the student’s account.
IMPORTANT: Students who are eligible for the $600 fee credit are agreeing to attend and complete all 12 lessons. Failure to do so may require the proration of the $600 fee and repayment by the student.
Contact the Office of Financial Aid at email@example.com, should you have any questions regarding this process.
All need-based financial aid recipient wishing to study off campus must have completed their financial aid file prior to the April deadline.
Students who receive need-based financial aid and who study off campus will receive the same amount of financial aid they would have otherwise received had they remained on campus. More simply, financial aid packages are not adjusted, increased or decreased, due to a student's intention to study off campus. (download Off Campus Study Financial Aid Handout)
For all off campus study programs, students are charged by the College the regular F&M tuition. Students are not charged by the College for room, health service fees, or meal plan (board) costs. However, those costs, at standard F&M rates, are included in the cost of attendance budget used to determine a student's demonstrated need. Therefore, those costs are also used to determine a student's eligibility for need-based financial aid.
Students must pay directly to the off campus study site/institution any room, meal plan (board), program fees, or miscellaneous charges. These charges will be billed directly to the student by the off campus study site institution. Students who receive financial aid in the form of grants or loans above the cost of F&M's tuition (for the time period spent abroad) will be able to utilize the overage of aid toward those costs at their site institution.
If the student needs a Payment Deferral Form completed or a Payment Deferral Letter written to verify the amount of financial aid s/he has in order to defer the payment to the program, please contact Ms. Tonya Hsiung, Assistant Director of Financial Aid. If a Payment Deferral Form or Payment Deferral Letter is completed on the student’s behalf, the student will also be required to complete a Refund Request Form with the Business Office and then send a copy of the program’s invoice (once received) to the Business Office.
If the invoice from the program is more than the anticipated refund, the student would be responsible for paying that difference. If the invoice from the program is less than the anticipated refund, s/he should make arrangements with the Business Office prior to departure for how to handle the additional refund check since it will be made out to the student. Typically it will be mailed to the student’s home address.
An international student receiving Franklin & Marshall financial aid who does not return to campus in the semester immediately following a semester or year-long off-campus study experience, is required to reimburse the College for the institutional aid received during the off-campus study period of time.
Students must notify the Office of Financial Aid of all outside awards received, including awards paid directly to you. You can report your outside scholarships to our office via email and include a copy of any correspondence (e.g., letter or email) from the scholarship donor. We ask that you provide this information as soon as you become aware of the award.
Outside scholarships awarded to F&M students will benefit students to the greatest extent possible. Outside scholarship awards will be added on top of a student's financial aid award package, dollar by dollar, up to meeting full Federal aid eligibility - the maximum limit of all financial aid awards that a student may receive from any source. Should any outside scholarship dollars exceed a student's maximum Federal aid eligibility, the College will not reduce its own institutional grant aid that has already been awarded until total gift aid reaches the student's Cost of Attendance.
The College will first reduce the self-help portion (loans and/or job) of the need-based aid package that has already been awarded to the student. The order of the reduction will be Federal Work Study, Federal Perkins Loan /F&M Loan, and Federal Direct Loan. After reducing all eligible, awarded self-help aid, any remaining outside scholarship amount in excess will not reduce Franklin & Marshall grant.
Scholarship agencies should send students’ outside scholarship payment directly to the Business Office/Student Accounts. The scholarship check should be made payable to Franklin & Marshall College so that funds may credited directly to the student's account. The student's full name and Student ID number should be included in the memo section of the check.
Checks made payable to the student or co-payable to the student and Franklin & Marshall College must be signed by the student prior to submitting the Business Office/Student Accounts.
PHEAA State Grant - Summer Session
Franklin & Marshall College offers two Summer Sessions of coursework. For dates, please visit the Registrar's Office website.
In order to qualify for the Pennsylvania State Grant (PHEAA) for the Summer term, you must meet the State Grant eligibility requirements as well as be enrolled in at least 2 credits across both summer sessions. That is, you must be enrolled in a minimum of at least one course per Summer session. You cannot qualify for PHEAA if you are only enrolled in one course or only enrolled during one Summer session. Please also note that using PHEAA during the Summer will count toward the maximum of eight full-time awards of PHEAA.
If you will meet the requirements listed above for PHEAA and wish to apply for the summer term, please log into your PHEAA account at www.pheaa.org (you can create an account if you do not already have an one) and complete the “Summer State Grant Application.”
Students who receive need-based financial aid from the Federal government and from the College who enter the College with the status of unmarried, single, and dependent will remain in that status regardless of whether or not they choose to marry post-enrollment. F&M students who marry post-enrollment may see an adjustment to their Federal need-based aid, provided they file their FAFSA on time and as a married student at the time of application, but no change to marital status will affect institutional aid from the College, per the College Board/CSS PROFILE.
Financial resources for Summer coursework taken at Franklin & Marshall will depend upon the number of credits in which student enrolls. Taking at least two (2) course credits during the Summer sessions, either two credits in one summer session or one credit in each of the two summer sessions, is considered half-time enrollment and may give a student eligibility for Federal Direct Student Loan.
A student may be eligible to borrow a Federal Direct Subsidized and/or Unsubsidized Loan amount appropriate for their grade level. Should a student require additional loan funds, they are advised to ask their parent(s) to borrow a Federal Direct Parent PLUS loan for parents or a private student loan for themselves. Students who borrow a private student loan will require a credit worthy cosigner.
If a student is only taking one summer course, their only option would be to borrow a private student loan. Students should apply with a lender that does not require half-time enrollment. Refer to this list of private loans.
All students who will be borrowing a any type of loan for Summer coursework should contact the Office of Financial Aid well before classes begin. When you register for summer courses at Franklin & Marshall you will be expected to pay the cost of tuition at time of registration. Therefore you should plan ahead if you are borrowing loans to cover the cost of tuition.
If you are taking courses at another institution, a Consortium Agreement will be required. This agreement is between F&M (home campus) and the school where you will be taking courses (host campus) certifying that only one school will be administering Title IV financial aid (Federal Direct Loans). You will most likely be expected to pay up front for the cost of tuition and reimburse yourself when the loan funds become available.
For more information about taking summer courses and loan options please contact the Financial Aid Office at (717) 358-3991.
Verification of Information: Required Process of Verifying the Information Families Submit on the FAFSA
The section below explains your rights and responsibilities. Please read carefully.
Submission of Requested Documentation
All requested information must be provided to the Franklin & Marshall College Office of Financial Aid within six weeks of the notification date. If the requested documentation is unavailable at the time of the request, an extension can be granted provided the Office of Financial Aid receives a written request explaining the reason the documentation is not provided and an estimated date the information will be available. Please note, however, that Federal and institutional aid cannot be finalized until such time as all requested documentation is provided. Failure to satisfy all requests will result in the cancellation of all Federal aid and Franklin & Marshall College need-based grant aid.
- A completed Verification form, if required, will be available for you to download from IDOC.
- Signed copies of parents’ and student’s Federal Income Tax documents (tax return, all schedules and all W-2s). (If a copy was not retained, contact your local IRS Office for additional information call 1-800-829- 1040 or complete form 4506-T).
- Any parent or student who did NOT file a federal tax return MUST provide a confirmation from the IRS that they did not file a tax return. A confirmation of nonfiling can be obtained from the IRS using form 4506-T and checking box 7.
- Any other verification forms provided by the Office of Financial Aid such as asset verification forms, medical expense forms, household size verification form, etc.....
Review of Information
After all requested information is submitted, application data will be verified. If all application information is accurate or within Federally approved tolerances, aid will be processed and/or finalized. If corrections are required, the Office of Financial Aid will correct the data electronically with the Federal Student Aid Program and process your aid request.
Notification of Verification Results
Notification of your award eligibility and/or certification of Federal loans will indicate your eligibility for Federal and institutional funds. In cases where aid had been previously awarded, notification will only be sent when program eligibility changes.
Overpayment of Federal Funds
In cases where corrections result in an overpayment of Federal funds, you will receive notice on steps required to repay the Federal programs and the consequences of not making proper repayment.
In cases where intent to commit fraud to obtain federal funds is suspected, the College will refer the case to the U.S. Department of Education's Office of Inspector General for review and resolution, and no further processing of financial aid will occur until the case is resolved.
Any questions concerning these policies and procedures should be directed to the Franklin & Marshall College Office of Financial Aid.
Students who receive Veterans Benefits will have those funds applied to their financial aid package at F&M. Provided that total funds from all sources (Veterans Benefits and awarded aid from the Federal government, the State, the College and private organizations) do not exceed the total cost of annual attendance, the funds themselves will neither displace already awarded aid, nor will the funds impact the family's demonstrated need or the family's calculated expected family contribution, i.e., receipt of Veterans Benefits will not adversely affect a student's financial aid package. This applies to dependent students of Veterans and Veteran students.