Meeting Talented Students Where They Are
We offer multiple forms of aid to make our extraordinary education affordable to all deserving students:
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
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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.
As a result, 24 percent of domestic students in the Class of 2021 are eligible for
federal Pell grants, 20 percent are the first in their families to go to college,
26 percent are domestic students of color, and 14 percent come from countries outside
the United States. Our commitment to need-based financial aid has also enabled us
to decrease student debt at graduation by nearly 20 percent since 2012.
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 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.
The Net Price Calculator is most appropriate for prospective students and families who need a more nuanced estimate of what their aid package will look like if they attend F&M. Make sure you have your tax returns and W-2s handy when completing.
Types of Aid Available
Financial aid typically comes in three forms: grants and scholarships, loans, and work-study.
Financial Aid Terms to Know
We understand that financial aid can be confusing. From “CSS Profile” and “FAFSA” to “Pell Grant” and “Work Study,” take a look at these terms you’ll be hearing throughout the financial aid process.
Read Our Financial Aid Policies
Explore F&M guidelines and regulations related to financial aid.
We Offer Financial Aid for International StudentsReflecting 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.
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The Impact of Financial Aid at F&M
Video by Andrew Bilindabagabo
February 18, 2023
'I Have Such a Reverence for the Cinematic Experience': Meet Simon Taylor '23
"Financial aid — and the Minter Family Endowed Scholarship — have enabled me to pursue this education at F&M," said Simon Taylor '23. "I am deeply grateful for all of the unique opportunities donor generosity has enabled me to have."
February 8, 2023
'F&M Really Made My Dreams Come True': Meet Gyana Guity '24
Gyana Guity '24 said she can't wait to discover how she'll continue to evolve as a person and a writer, and she's grateful to F&M's generous donors for opening the door to these experiences. "I could never thank F&M enough for giving me this opportunity," she said.
June 7, 2022
A Diner, a Dream, and a Golden Door
An ambitious student growing up, Roger Avila-Vidal '22 knew college was a possibility. But his immigration status made that dream seem nearly impossible. A chance encounter with a prolific F&M benefactor helped change that.
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, 95%
of the Class of 2022 were either employed or furthering their education. This is notably
higher than the national average, which is typically in the mid-80% range.
The Lasting Value of an F&M Education
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, 95% of the Class of 2022 were either employed or furthering their education. This is notably higher than the national average, which is typically in the mid-80% range.Explore success beyond F&M »
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!