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Franklin College

Franklin, IN 46131-2623 — Private Nonprofit

Value Score: 55/100 | ROI Score: -64 | Affordability Score: 55/100

Tuition (In-State): $38,710 | Out-of-State: $38,710

Acceptance Rate: 69.8% | Graduation Rate: 61.8% | Retention Rate: 72.9%

Median Earnings (10yr): $55,376 | Median Debt: $27,000

SAT Average: 1145 | ACT Midpoint: 23

Student Body Size: 900 (small)

Pell Grant Recipients: 36.4% | Federal Loan Rate: 54.2%

Average Faculty Salary: $7,146/month

Tuition & Affordability Analysis

In-state tuition at Franklin College is $38,710 per year, which is near the national average for private institutions.

Out-of-state students pay $38,710/year — a premium of $0 over in-state rates. Over four years, out-of-state students pay approximately $0 more than their in-state peers.

Estimated four-year tuition cost: $154,840 (tuition only, not including room, board, and fees).

What You Actually Pay: Net Price by Family Income

The sticker price rarely reflects what families actually pay. After grants and scholarships, here is the average net price by family income bracket at Franklin College:

  • Families earning $0–$30,000: $14,790/year
  • Families earning $30,001–$48,000: $15,822/year
  • Families earning $48,001–$75,000: $20,093/year
  • Families earning $75,001–$110,000: $23,439/year
  • Families earning $110,000+: $30,316/year

Low-income families receive an average discount of $23,920/year, paying just 38% of the sticker price.

Admissions Snapshot

Franklin College has an acceptance rate of 69.8%, placing it in the Moderately Selective (50–70%) category. This means roughly 322 students apply each year.

The average SAT score of admitted students is 1145, 8% above the national average. This is within the mid-range nationally.

The ACT midpoint is 23, 10% above the national average.

Graduate Outcomes & Return on Investment

61.8% of students at Franklin College complete their degree, near the national average. This is a solid graduation rate.

First-year retention rate: 72.9% (10% below the national average). A retention rate below 75% suggests some students struggle with fit, academics, or affordability.

Graduates of Franklin College earn a median salary of $55,376 ten years after enrollment, 35% above the national average. This represents a $20,376/year earnings premium over the average high school diploma holder, or $611,280 in additional lifetime earnings over a 30-year career.

The median student debt at graduation is $27,000, 26% above the national average. On a standard 10-year repayment plan at 5.5% interest, this translates to approximately $293/month, with a total repayment of $35,160 (including $8,160 in interest).

Debt-to-Earnings Ratio: 0.49x. This is an excellent ratio — graduates carry manageable debt relative to their earning power.

Breakeven Point: Based on the earnings premium over high school graduates, a degree from Franklin College pays for itself in approximately 8 years. This is a reasonable investment timeline.

Financial Aid Profile

36.4% of students at Franklin College receive Pell Grants (federal need-based aid for families earning under ~$60,000), 10% above the national average. This is near the national average, reflecting a typical economic diversity among the student body.

54.2% of students take federal loans, 15% above the national average. This is a moderate borrowing rate.

Average faculty salary: $7,146/month, 18% below the national average. Higher faculty salaries generally indicate greater investment in teaching quality and ability to attract experienced professors.

Student Body & Campus Diversity

Franklin College enrolls 900 undergraduate students. As a small institution, students can expect smaller class sizes, closer faculty relationships, and a tight-knit campus community.

Diversity Index: 40/100 (higher = more diverse). The student body is less diverse than average.

Student body composition: White 77%, Hispanic 5%, Black 6%, Asian 1%.

Franklin College: Moderate Academic Performance and Earnings Potential

Report Card: Overall Grade C-

Franklin College receives an overall grade of C- based on six dimensions:

  • Academics: C
  • Value: F
  • Outcomes: B
  • Affordability: C+

College Analysis

Franklin College is a Private Nonprofit institution in Franklin, IN with approximately 900 students. Franklin College has a graduation rate of 61.84%, slightly below the national average for private colleges. Median earnings 10 years post-graduation are $55,376, indicating a moderate return on investment. The college's median debt upon graduation is $27,000, which is relatively high compared to peer institutions.

The Verdict: Is Franklin College Worth It?

Franklin College presents a complex value proposition. With an in-state and out-of-state tuition of $38,710, it is a significant investment. The median earnings of $55,376 after 10 years, coupled with a median debt of $27,000, result in a notably negative ROI score of -64. This suggests that, on average, graduates are not recouping their investment through higher earnings within a decade. The debt payoff timeline, assuming a standard 10-year repayment plan and a typical interest rate, would likely extend beyond the 10-year earnings data point, further complicating the financial picture. While the college offers a personalized educational experience and a supportive community, the financial return on investment is a serious concern. The median earnings are not substantially higher than the cost of attendance, and the debt load adds a considerable burden. For students who can secure significant scholarships or grants, or who are entering high-demand, high-paying fields where Franklin College has strong placement, the value proposition might improve. However, based purely on the provided median data, Franklin College appears to be overpriced. It is not a clear 'hidden gem' for financial returns, nor is it a straightforward 'good deal.' Students should carefully weigh the cost against potential career paths and seek substantial financial aid to mitigate the financial risk.

Return on Investment

While the earnings potential is moderate, the high student debt may not make the degree worth the cost for some students.

Debt Reality Check

Median student debt at Franklin College: $27,000. Monthly payment on a standard 10-year plan: $307/month. Total repaid: $36,840 ($9,840 in interest).

Breakeven vs high school diploma: 1.1 years. Debt burden: Manageable. Salary needed for comfortable repayment: $36,840.

Strengths

  • Moderate earnings potential
  • Moderate return on investment
  • Moderate graduation rate

Weaknesses

  • Higher-than-average student debt
  • Below-average graduation rate
  • Moderate academic performance

Academic Profile

SAT Average: 1145. ACT Midpoint: 23. Retention Rate: 72.9%.

Franklin College prides itself on providing a personalized academic experience, a hallmark of its liberal arts tradition. While specific faculty salaries are not publicly disclosed, the relatively small student body of 900 suggests a potentially favorable student-faculty ratio, allowing for more direct interaction with professors. The college emphasizes undergraduate research, offering students opportunities to collaborate with faculty on projects across various disciplines. Notable departments include Biology, Chemistry, and Psychology, which often serve as strong foundations for students pursuing graduate studies or health professions. The Education department is also a well-regarded program, preparing future educators for diverse roles. Franklin College offers an Honors Program for academically high-achieving students, providing enriched coursework and opportunities for independent study. Study abroad is actively encouraged, with various programs available to broaden students' perspectives and academic horizons. Academic support is robust, with the Academic Success Center offering tutoring, writing assistance, and academic coaching to ensure students have the resources they need to succeed. The college's commitment to a liberal arts education means students develop critical thinking, communication, and problem-solving skills that are transferable across many fields, preparing them for a dynamic job market.

Financial Aid Guide for Franklin College

Pell Grant recipients: 36.4%. Students taking federal loans: 54.2%.

Franklin College aims to make its private education accessible through a combination of merit-based and need-based financial aid. For the incoming class, the average financial aid package often includes a significant portion of institutional aid, which can be a mix of grants and scholarships. Merit scholarships are a cornerstone of aid at Franklin, awarded based on academic achievement (GPA and standardized test scores, though these are not currently a primary focus for admission). These can range from a few thousand dollars to covering a substantial portion of tuition. Need-based aid is also available, determined by the information provided on the FAFSA and CSS Profile (if required). For families with an Adjusted Gross Income (AGI) below $50,000, it's common to see aid packages that significantly reduce the net cost of attendance, potentially covering over half of the tuition. For families with higher incomes, merit scholarships become more critical. Work-study opportunities are also offered, providing students with part-time jobs on campus to help cover living expenses. While Franklin College does not typically engage in extensive aid negotiation in the same way larger universities might, it's always advisable for students with extenuating financial circumstances to contact the financial aid office directly to discuss their situation. Scholarship applications, both internal and external, are crucial for maximizing aid. Students should also be aware that the stated tuition of $38,710 is before any aid is applied, and the net price can be considerably lower for many students, especially those with strong academic profiles or demonstrated financial need.

Hidden Costs at Franklin College

  • Room and board costs can add an estimated $10,000 - $12,000 per academic year.
  • Textbooks and course materials can range from $800 to $1,200 annually.
  • A student activity fee of approximately $200 per semester is charged.
  • Personal expenses, including toiletries, laundry, and entertainment, can add $1,500 - $2,500 per year.
  • Transportation costs, especially for students who go home frequently or travel during breaks, can vary widely but budget at least $500 - $1,000 annually.
  • Optional health insurance, if not covered by a parent's plan, can cost around $2,000 - $3,000 per year.
  • Parking permits for students with cars are typically around $100 - $200 per year.

Alumni Outcomes & Career Paths

Franklin College, a small private institution in Indiana, positions its graduates for success primarily within the Midwest region, with a notable concentration in the Indianapolis metropolitan area. While specific data on major employers actively recruiting on campus is limited, alumni often find roles in sectors prevalent in Indiana's economy. These include healthcare, education, finance, and manufacturing. Companies like Franciscan Health, Community Health Network, and IU Health frequently hire graduates from health-related programs. In education, alumni are found in various school districts across Indiana. The financial sector sees graduates placed in roles at local banks and credit unions. Manufacturing firms, particularly those in automotive and advanced manufacturing, also represent a significant employment avenue.

While Franklin College does not publish specific graduate school placement rates by major, a portion of its alumni pursue advanced degrees, particularly in fields like education, counseling, and business. The career services office at Franklin College aims to support students through resume building, interview preparation, and internship placement. They work to build relationships with regional employers, though the scale of these partnerships may be smaller compared to larger universities. Internship pipelines are crucial for Franklin graduates, often leading to full-time employment. Students are encouraged to leverage these experiences, which can be secured through direct outreach, career services, and faculty connections.

Geographic hiring patterns strongly favor Indiana, especially the Indianapolis area, due to the college's location and the concentration of businesses there. Some alumni may also find opportunities in neighboring states like Ohio, Illinois, and Kentucky, particularly in industries with a regional presence. The college's alumni network, while smaller than larger institutions, can be a valuable resource for networking and job searching within these core geographic areas. The focus is on building a strong foundation for careers within the state's key economic drivers.

Campus Life & Culture at Franklin College

Franklin College attracts a student body primarily from Indiana, with a growing number of students from surrounding states. The majority of students are traditional undergraduates seeking a liberal arts education in a supportive, close-knit environment. Students who thrive here are typically engaged, community-oriented individuals who value personal connections with faculty and peers and are eager to participate in campus life.

Franklin College, nestled in the charming town of Franklin, Indiana, offers a close-knit campus community where students often describe the vibe as friendly, engaged, and supportive. With an enrollment of around 900 students, it's small enough that you'll quickly recognize faces and build genuine connections. The heart of campus life revolves around academic pursuits and extracurricular involvement. Students are encouraged to get involved, and there are over 50 student organizations catering to a wide range of interests, from academic clubs like the Pre-Med Society to recreational groups like the Ultimate Frisbee club. The Johnson Center for Fine Arts is a hub for creative expression, hosting performances and exhibitions. Social life isn't dominated by a massive Greek system; while fraternities and sororities exist, they play a more integrated role rather than defining the entire social scene. Many students find their social circles through clubs, intramural sports, or simply hanging out in common areas like the Branigin Student Center. Residence halls are a key part of the experience, with options ranging from traditional dorms to suite-style living, fostering a sense of community right where students live. The campus itself is picturesque, with a blend of historic and modern architecture, and the adjacent John F. Kennedy Park offers green space for relaxation and recreation. Athletics are a significant part of the Franklin College experience, with the Grizzlies competing in the Heartland Collegiate Athletic Conference (HCAC). Students are passionate about supporting their teams, and game days often bring the campus together. The overall atmosphere is one of academic focus balanced with a strong sense of belonging and opportunities for personal growth.

Campus Highlights

  • The Johnson Center for Fine Arts, a state-of-the-art facility for arts and performance.
  • The Franklin College Grizzlies athletics program, fostering school spirit and competition.
  • A strong emphasis on undergraduate research opportunities across disciplines.
  • The historic and picturesque campus setting in Franklin, Indiana.
  • A close-knit community where students are encouraged to get involved in over 50 student organizations.
  • The 'Franklin Four' tradition, where students are encouraged to complete four high-impact experiences before graduation (internship, study abroad, research, community service).

Location & Regional Advantages

Franklin College's location in Franklin, Indiana, offers a blend of small-town charm and proximity to a major metropolitan hub, providing a unique regional advantage. Franklin itself boasts a low cost of living, making it an attractive place for students and recent graduates to manage expenses. The town offers a safe environment with a strong sense of community, appealing to those who prefer a quieter lifestyle.

The most significant geographic advantage is its proximity to Indianapolis, located just about 20 miles north. Indianapolis is Indiana's capital and largest city, serving as a major economic engine for the state. This proximity grants Franklin College students access to a diverse job market with opportunities in healthcare (IU Health, Franciscan Health, Community Health Network), finance (PNC Bank, Chase), technology, manufacturing (Eli Lilly and Company, Rolls-Royce), and government. Numerous internships and entry-level positions are available in the greater Indianapolis area, allowing students to gain practical experience and build professional networks without having to relocate far from campus.

Indianapolis also offers a vibrant cultural scene, with numerous restaurants, entertainment venues, and professional sports teams, enhancing the quality of life for students and alumni. While Indiana's weather is characterized by distinct seasons, including cold winters and warm, humid summers, the overall climate is manageable and typical for the Midwest. The safety of Franklin and the accessibility of Indianapolis's amenities create a balanced environment for students seeking both a focused academic experience and opportunities for personal and professional growth.

How to Get Into Franklin College

Franklin College, with its 69.8% admission rate, is a selective but accessible institution. The admissions committee looks for well-rounded students who demonstrate academic potential and a genuine interest in contributing to the campus community. While SAT/ACT scores are not currently a primary focus, strong high school coursework and a solid GPA are essential. The college values demonstrated interest, so engaging with the admissions office through campus visits (highly recommended!), virtual events, or personalized communication can be beneficial. Essays are an important component; focus on showcasing your personality, your motivations for choosing Franklin, and how you'll contribute to the college. Highlight experiences that demonstrate leadership, resilience, or a passion for learning. Early Action (EA) is a good option if Franklin is your top choice, allowing you to receive an early decision without a binding commitment. There is no Early Decision (ED) option. The application deadline for Fall admission is typically in the spring, with priority deadlines for scholarships often earlier, around February 1st. Aim to submit your application well before the final deadline to ensure full consideration for both admission and financial aid.

How Franklin College Compares to Similar Schools

Similar schools: Butler University, DePauw University, Hanover College, Wabash College

Advantages

  • Potentially lower sticker price or more generous merit aid compared to some peers.
  • Stronger focus on undergraduate teaching and personalized attention due to smaller size.
  • Location offers good access to Indianapolis's job market without the urban distractions of larger cities.

Disadvantages

  • Lower median alumni earnings compared to some more established liberal arts peers.
  • Smaller alumni network and potentially fewer national recruiting relationships.
  • Lower graduation rate suggests potential challenges with student retention or academic support for some.

Best For

  • Prospective students interested in lower debt and higher graduation rates may want to consider other options.
  • Students seeking a more affordable education with similar outcomes might look at public institutions or community colleges.
  • Those prioritizing high earnings potential might explore more specialized or higher-ranked private colleges.

Avoid If

  • Students looking for a more affordable education with similar outcomes might consider Franklin College, but should be aware of the higher-than-average student debt.
  • Those seeking a higher graduation rate and lower debt might want to explore other options.

Frequently Asked Questions about Franklin College

How much does it cost to attend Franklin College?

In-state tuition at Franklin College is $38,710 per year, and out-of-state tuition is $38,710 per year. The median student debt at graduation is $27,000.

What is the acceptance rate at Franklin College?

Franklin College has an acceptance rate of 69.8%.

What is the graduation rate at Franklin College?

Franklin College has a graduation rate of 61.8%.

How much do Franklin College graduates earn?

The median earnings for Franklin College graduates 10 years after enrollment is $55,376. With median debt of $27,000, graduates earn roughly 2.1x their debt level annually.

How big is Franklin College?

Franklin College has approximately 900 students and is classified as a small institution. It is located in Franklin, IN and is a Private Nonprofit institution.

Is Franklin College worth the cost?

Franklin College has an ROI score of -64 out of 100. With in-state tuition of $38,710 per year and median post-graduation earnings of $55,376, the data suggests the return on investment may be below average.

Where is Franklin College located?

Franklin College is located in Franklin, IN. It is a Private Nonprofit institution with approximately 900 students.

How much student debt do Franklin College graduates have?

The median student debt for Franklin College graduates is $27,000. With median earnings of $55,376 ten years after enrollment, graduates can expect a debt-to-income ratio of 49%.

Is Franklin College a good college?

Franklin College has a graduation rate of 61.8% and median post-graduation earnings of $55,376. Graduation rate is 61.84%.

How does Franklin College compare to similar colleges?

Median earnings 10 years post-graduation are $55,376. Franklin College offers a moderate return on investment compared to its peers, with decent earnings potential but higher-than-average student debt.

What career prospects do Franklin College graduates have?

Graduates of Franklin College can expect to enter the workforce with a moderate salary, suitable for entry-level positions in various fields.

What should prospective students know about Franklin College?

Franklin College is positioned in the mid-range for private colleges in terms of affordability and academic outcomes.

What makes Franklin College stand out?

Median debt upon graduation is $27,000.

What are the pros and cons of attending Franklin College?

Admission rate is 69.8%.

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Analysis based on U.S. Department of Education data. Not enrollment advice. Verify information with the institution directly.