Dr. Miguel A. Cardona Secretary of Education | Official website
Dr. Miguel A. Cardona Secretary of Education | Official website
Data shows that students paid $36,136 on average to attend Franklin College courses at the time, $1,170 more than the previous school year.
For comparison, Indiana universities charge students an annual average of $16,461 per year.
At the time, a total of $6.6 million in grants or scholarships were awarded to full-time undergraduates who enrolled in the university. Additionally, federal student loans reached $1.2 million.
Currently, there are 896 students enrolled in Franklin College.
Undergraduate education costs have seen a significant increase over the past few decades. Data shows a 169% rise in the average total cost, including tuition, fees, room, and board, between 1980 and 2020.
According to a 2023 College Board report, in-state students at public universities paid an average of $11,260, while out-of-state students paid $29,150 in the 2023-24 academic year.
Meanwhile, student loan debt has steadily increased over the last 30 years, reaching $1.75 trillion in 2024, averaging a total of $28,950 per borrower. Federal loans make up 92% of the debt, with over half of students at both public and private four-year colleges graduating with student loans.
Available data sometimes exceeds 100% due to rounding and administrative calculations.
| Institution | Number of Students Receiving Grants | Total Amount of Grants Received | Average Amount of Grant Per Student | Number of Students Receiving Loans | Total Amount of Loans Received | Average Amount of Loans Per Student |
|---|---|---|---|---|---|---|
| Franklin College | 245 | $6,612,604 | $26,990 | 173 | $1,191,871 | $6,889 |
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