Helping you afford a Fairleigh Dickinson University education is important to us. While the primary responsibility for your education rests with you and your family, additional sources are available to help reduce the expenses of a private university education. The federal government, state government and Fairleigh Dickinson University all provide various programs to help families who can demonstrate financial need.
At Fairleigh Dickinson, our financial aid staff is there to assist you in financing your education through the use of college work-study, scholarships, grants and low-interest loans. We know how to connect you with the help you need.
We hope the following information will enable you to better understand financial assistance:
1) The Cost of Attendance (COA or budget) is determined by the institution.
This is an estimate of the educational and miscellaneous expenses you will incur during the nine-month academic year. These costs include tuition, fees, room and board, transportation allowance, book allowance, personal needs allowance, and living allowance. The cost of attendance is different from the direct charges actually paid to the institution.
2) The Expected Family Contribution (EFC) is then calculated.
An estimate of the family’s financial strength and ability to contribute are measured by applying the official needs analysis formula to the data submitted on the Free Application for Federal Student Aid (FAFSA). The result is the “Expected Family Contribution.”
3) Your Financial Need is computed.
The Cost of Attendance less the Expected Family Contribution equals a student’s demonstrated Financial Need (COA – EFC = Need). The calculated need determines the student’s eligibility for financial assistance.
4) The financial aid award is constructed.
Eligibility for government grants is estimated, and if there is significant need, aid may be offered from University administered and University funded resources. The student is sent notification of the aid offer in the form of an award letter.
5) A Financial Aid Award Letter is sent to the student.
Incoming students who have completed their application for admissions and have received their letter of acceptance should plan to receive their Award Letter on or around April 1st. Letters are sent out on a rolling weekly basis thereafter.