What does FADD mean in FINANCE

FADD stands for Financial Aid Determination Date. This is the date by which a financial aid awarding organization has determined how much and what type of aid you are eligible for.

Your FADD helps to determine when you may be able to receive any awarded funds from a financial aid program, such as scholarships, grants, loans, or work study programs. Depending on when your determination date falls, you may need to wait until the next enrollment period to receive those funds.

Yes, it is possible that you could have more than one FADD depending on the number of different types of financial aid that you are applying for and how successful each application was. In this case, each application would have its own specific Financial Aid Determination Date set according to their own terms and conditions.

If your FADD changes after your initial application then it can affect when any awarded funds become available as they may not be available until after your new determination date has been reached. Additionally, certain deadlines associated with financial aid such as tax forms or loan documents may need to be met again before any awarded funds can be accessed so it's important to pay attention and keep track of these dates if they change.

Depending on the type of aid that you are seeking and the institution providing it, appealing your FADD might be possible in some cases. It's important to contact both your financial aid office as well as the awarding agency directly if you feel like there was an error made in calculating your FADD or if other circumstances will delay receiving your award beyond the initial determination date set by them.