Many of our families have successfully negotiated with their home school district to secure significant funding to subsidize a Franklin Academy education. As these same families look ahead to the cost of college, parents frequently focus on financial aid options, work/study programs, and loans. There is another important source of funding – merit scholarships awarded by colleges to attract capable students.
Do not confuse these scholarships with those available through the National Merit Scholarship Program that identifies the top 1% of academically gifted students across the country. PSAT scores first determine semi-finalists in the competition for these scholarships during junior year. College-based merit scholarship awards, on the other hand, are automatically linked to the admissions process. A successful college application often triggers consideration for an academic merit scholarship. These merit scholarships can range from $10,000 to $40,000 a year and more. They are renewable throughout the four years of college if the recipient maintains a satisfactory grade point average.
Frankly, I am amazed and impressed by the number of academic merit scholarships awarded to our Franklin Academy graduates. These scholarships are within reach for conscientious seniors who have steadily progressed and grown academically during their time at our school. Beyond the good news of a college acceptance, a generous merit grant affirms that the college or university wants you to be part of their community of scholars. These scholarships also make college much more affordable.