What is the Financial Aid Notification (FAN)?
Financial aid breakdown that shows the aid you are eligible for after filing your annual FAFSA.
The FAN is a crucial document that candidates receive after their FAFSA and any additional required documentation have been processed by the Office of Financial Aid. This notification is sent via email and provides a comprehensive breakdown of all the financial aid sources that the candidate is eligible to receive. It also includes details on the remaining balance due, if applicable, you will pay no more than $75 per month for each semester. The FAN serves as a valuable tool for candidates to understand their financial aid package and make informed decisions regarding their education expenses.
- On the FAN - what is the difference between direct and indirect costs?
Direct cost: charges Universities/Colleges bill directly to the candidate
example - candidate contribution amount for tuition charges
Indirect costs: costs candidates pay out-of-pocket throughout the academic year
to parties other than the University/College they are attending
example - computers, internet, books, off-campus housing, meals, transportation