When is Financial Aid Credited to My Account?
Student Responsibility - Franklin University is committed to assisting students in applying for financial aid resources that can be used to help pay for their tuition and fee charges. However, students enrolled in courses at Franklin are ultimately responsible for paying their University tuition and fee charges regardless of the type or amount of aid they may receive. In addition, students who do not complete the application and eligibility requirements for the financial aid programs will not receive financial aid resources. Consequently, these students are still responsible for paying their tuition and fee charges from personal resources.
Refunds from Financial Aid
Refunds will only be issued if your Franklin tuition account is paid in full and has a credit balance. Any existing credit balance, which you are eligible to receive, will be refunded to you within 10 business days.
To view your tuition account, go to https://www.franklin.edu/myFranklin
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log on
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click on the Financial Information tab
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click on View My Account Balance
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click on the term you want to view.
A credit balance (ex., -342.67) indicates your tuition is paid and this is the remaining balance that could possibly be refunded to you. Once you see “Student Refund” on your account, your refund will be issued (by mail, debit card, or direct deposit) on the Wednesday following the date it posted to your account.
Note: It may take your bank 48 business hours to post your direct deposit refund to your checking/savings account.
Disbursement Schedule for the 2008-2009 Award Year:
Note: Eligibility is reviewed and aid is posted to accounts as they are received, but no earlier than the start date of your first class for the term. If your file has been processed and you have received an Award Letter, funds will post to your tuition account by the end of the week according to the schedule below. Disbursements will be posted every week from this date forward throughout the trimester.
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Type of Aid |
Summer 2008 |
Fall 2008 |
Winter 2009 |
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Federal Stafford Loans (must have signed and returned your Award Letter to Financial Aid and have a MPN on file) |
Week 4 ending 05/24/08 |
Week 2 ending 08/30/08 |
Week 2 ending 01/19/09 |
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Federal Grants - Pell, *ACG, *SMART and SEO Grant
|
Week 5 ending 05/31/08 * will not post until after July 1, 2008 |
Week 3 ending 09/06/08 |
Week 3 ending 01/24/09 |
|
Scholarships |
Week 6 ending 06/07/08 |
Week 4 ending 09/13/08 |
Week 4 ending 1/31/09 |
|
Institutional Grants |
Week 6 ending 06/07/08 |
Week 4 ending 09/13/08 |
Week 4 ending 1/31/09 |
|
State Aid – Ohio For tuition only
* Exception - Summer term could disburse later due to the State legislative budget process and final signoff on State budget. |
Week 6 ending 06/07/08* |
Week 4 ending 09/13/08 |
Week 4 ending 1/31/09 |
|
National Guard For tuition only |
Week 7 ending 06/14/08 |
Week 5 ending 09/20/08 |
Week 5 ending 02/07/09 |
updated 09.10.08