College Financing Plan
What is the College Financing Plan?
The College Financing Plan is a U.S. Department of Education tool used by Fairleigh Dickinson University to notify students who file a Free Application for Federal Student Aid (FAFSA) about their financial aid eligibility and estimated costs.
All students accepted by Fairleigh Dickinson University who have filed a FAFSA will receive their College Financing Plan in the mail along with a personalized financial aid offer detailing the particular grants, scholarships and other financial aid the student is eligible to receive.
College Financing Plan Glossary
Cost of Attendance (COA): The total amount (not including grants and scholarships) that it will cost you to go to school during the 2020-21 school year. COA includes tuition and fees; housing and meals; and allowances for books, supplies, and transportation. It also includes miscellaneous and personal expenses.
Total Grants and Scholarships: Student aid funds that do not have to be repaid. Grants are often need-based, while scholarships are usually merit-based. Occasionally, you might have to pay back part or all of a grant if, for example you withdraw from school before finishing a semester.
Direct Costs: Direct costs include tuition and fees, and room and board for students living on campus. These are all items you pay directly to Fairleigh Dickinson University.
Indirect Costs: Indirect costs include books and supplies, transportation costs and other miscellaneous education costs. Indirect costs also include allowances for housing and meals for students who do not lives on campus. Fairleigh Dickinson will not bill you for any of these indirect costs.
Net Costs: An estimate of the amount that you or your family will need to pay during the 2020-21 school year to cover both direct and indirect costs at Fairleigh Dickinson University. Net costs are determined by taking the cost of attendance and subtracting your grants and scholarships.
Estimated Direct Net Costs: An estimate of the actual amount that you or your family will need to pay to Fairleigh Dickinson University during the 2020-21 school year to cover your direct costs..
Work-study: A federal student aid program that provides part-time employment while you are enrolled in school to help pay your education expenses. Federal work-study earnings are paid directly to students who secure a work-study job. These earnings will not appear on the statement of charges and should not be subtracted from your net costs.
Loans: Borrowed money that must be repaid with interest. Loans from the federal government typically have a lower interest rate than loans from private lenders. You can find more information about your federal loans at StudentAid.gov.
Family Contribution (also referred to as Expected Family Contribution): A number used by a school to calculate how much financial aid you are eligible to receive, if any. It’s based on the financial information you provided in your Free Application for Federal Student Aid (FAFSA). It’s not the amount of money your family will have to pay for college, nor is it the amount of federal student aid you will receive.
College Financing Plan Questions
Why is the Net Cost on the College Financing Plan different from the Estimated Direct Net Costs on my personalized financial aid offer?
The Net Cost on the College Financing Plan includes both direct and indirect expenses. The Estimated Direct Net Cost on your financial aid offer includes only direct expenses.
Who do I contact if I have questions?
Please feel free to contact the Office of Financial Aid Florham Campus 973-443-8700 or our Metropolitan Campus 201-692-2363 or by email at firstname.lastname@example.org.