Daytime MBA





Types of Financial Assistance

Merit Scholarships

Every admitted applicant will be considered by an Admission Scholarship Committee for a merit scholarship, and if selected to be a recipient, will receive notification of their award approximately one week after their admission. The criteria for selection includes prior academic achievement, demonstrated qualities of leadership, involvement in the community, extracurricular activities, and professional accomplishments. These awards are for the two-year duration of the MBA program and range from partial to full tuition. We do not have funding for new awards in the second year. Thus, students who enroll without scholarship funding should not anticipate an award for the second year of the program.

A generous scholarship program for minority students is funded by Fuqua and a variety of corporate donors. A complete list of these scholarships is published in the Fuqua Bulletin. Selection of recipients for these named awards is made during the summer or fall semester. These awards replace, but would not be less than, funds already received.

Named Awards

Fuqua merit award recipients are automatically considered for named scholarships funded by Fuqua and corporate sponsors. A separate selection process to award named scholarships is conducted during the summer or fall semester. These named awards replace merit awards already received, and do not provide additional funds to the recipient. No additional information is required to be considered.

Keller Scholars

Keller Scholarships are the most prestigious awards granted to incoming Fuqua students. The Keller Scholars are named in honor of Dr. Thomas Keller, the former Dean of The Fuqua School of Business, who led Fuqua from a small regional business school to a position of international prominence in less than a decade. These awards are funded by Fuqua, endowments, and corporate donors. The Admission Scholarship Committee selects Keller Scholars based on academic excellence and strong commitment to improving their communities through leadership and service.

Private Alternative Student Loan

An International Student with a U.S. co-signer can borrow through other financial institutions at possibly a lower interest rate than the Coastal Federal International Student Loan Program. Private/Alternative Loans are credit-based student loans that require a U.S. Citizen or Permanent Resident co-signer. Students may borrow up to the Cost of Attendance less other financial aid. These loans provide for in-school deferment of payments and a post-graduation grace period. Both the grace period and the repayment period can vary by lender. Please refer to the Duke University Recommended Lender List to view a list of loan programs and to learn more about specific interest rates, repayment terms, and other loan features.

Coastal Federal Credit Union International Student Loan

Fuqua is proud to offer a student loan program for international students through Coastal Federal Credit Union (Coastal). Coastal is a successful and long-standing financial institution and does not require a co-signer. You are applying directly for a line of credit with Coastal. A credit union is a bit different from a traditional bank in that you must become a "member" and establish a small savings account of $5 to $25 to utilize their loan services. Coastal Federal Credit Union offers a very competitive rate of prime plus 5%. With the current prime rate of 3.25%, the rate would be 8.25%. Effective January 1, 2013, all new Coastal Loan borrowers will be charged a 3% origination fee that will be added to the principal borrowing amount.

External Funding Sources for International Students

We have provided a list of external funding programs from various international agencies. We encourage you to view the list of programs as you may find a suitable funding source.

The Center for the Advancement of Social Entrepreneurship (CASE) also provides several assistance programs to reduce this financial burden and attract the most talented students dedicated to making a positive difference in the world. In addition to other sources of financial aid at Fuqua, Daytime MBA students and alumni with an interest in the social sector may be eligible for the following programs:

Type of Assistance

Eligible Students

Class of 1990 Nonprofit and Small Business Internship Award

First-year students who choose a summer internship with a nonprofit, public, or small to medium size company.

CASE Summer Internship Program

First-year students who pursue summer internships with nonprofit organizations and public agencies.

CASE Social Sector Scholarship

First-year students with nonprofit experience who intend to return to social sector careers upon graduation.

Peace Corps Paul D. Coverdell Fellows Program

Students who have satisfactorily completed service in the U.S. Peace Corps and who engage in community service while enrolled.

Applying for Student Loans

Private/Alternative Student Loan

Step 1

Review the Duke University Lender List.

Step 2

Select loan program.

Step 3

Complete your application online at the lender website.

Step 4

Duke University will receive confirmation from the lender to submit school certification.


Coastal Federal International Student Loan

Step 2

Student will receive a secure email with loan documentation from Coastal Federal.

Step 3

Students submit:

  • Notarized loan documents
  • Copy of Resident Identification Card
  • Copy of passport, copy of visa, copy of your country of origin driver's license
  • $25 (check or money order).

Step 4

Coastal requests school certification of the loan from Fuqua Financial Aid.

Cost of Attendance

Estimated International Daytime MBA Cost of Attendance
2014-201 (9-Month Period)

 

To view detailed Cost of Attendance information, please download this pdf.

  First-Year Student
Class of 2016
  Second-Year Student
Class of 2015
  Fall
Spring
Academic Year Fall
Spring
Academic Year
Educational Expenses
(Student Bursar Account Charges)
Fuqua Daytime Tuition 29,000 29,000 58,000   29,000 29,000 58,000
Student Medical Insurance* 2,280   2,280 2,280   2,280
Health Fee 342 342 684 342 342 684
MBA Association (Gov't Fee) 450   450 450   450
Graduate Activity Fee 17 17 34 17 17 34
Graduate Recreational Facility Fee 120 120 240 120 120 240
Transcript Fee 40   40      

Graduate Student Services Fee

10  10  20  10  10  20
Pre-Term Fee 1,730   1,730      
Total 33,989 29,489 63,478 32,219 29,489  61,708
Educational Supplies
Books/Course Packs 663 663 1,326   663 663 1,326
Total 663 663 1,326 663 663 1,326
Student Living Expenses
Fuqua Board (Food) 2,281 2,281 4,562   2,281 2,281 4,562
Fuqua Housing 3,882 3,882 7,764 3,882 3,882 7,764
Fuqua Miscellaneous 1,704 1,704 3,408 1,704 1,704 3,408
Fuqua Transportation 824 824 1,648 824 824 1,648
Total 8,691 8,691 17,382 8,691 8,691 17,382
Total Cost of Attendance 43,343 38,843 82,186   41,573 38,843 80,416
Student Loan Borrowing Eligibility** 43,343 38,843 82,186   41,573 38,843 80,416
Coastal Loan Borrowing Eligibility

 

     

41,573

 38,843

80,416

Coastal Loan Borrowing Eligibility(90% of COA)***

 39,009

34,959

73,968

       

For more information about tuition due dates and the billing schedule please visit the University Bursar Office website.

*Student Medical Insurance Plan is required for all Fuqua Daytime MBA students and is charged during the fall semester. It can be waived if you have other health insurance coverage. International students with an F-1 or J-1 visa are required to purchase this student medical insurance plan. The cost of this medical insurance is determined by the various age ranges that are set for this plan. This medical insurance amount reflects the age range (24 - 34) of the average Fuqua Daytime MBA student. Please contact our Financial Aid Office if your Duke-sponsored Student Medical Insurance Plan cost is different from this amount. We will adjust your COA accordingly. The actual cost of the Student Medical Insurance Plan is established in late spring each year. The University Student Affairs Office provides additional information regarding student medical insurance with fall tuition statements.

**The Student Loan Borrowing Limit will be reduced by any other financial aid received (i.e. scholarships). This cost of attendance will determine the total amount of your Financial Aid eligibility. The Coastal Federal International Loan has a maximum borrowing limit of $170,000 for all years of study.

***Coastal Loan Borrowing Eligibility (90% of COA) was reduced in an effort to help maintain a viable international loan program. Newly admitted students may borrow up to 90% of their cost of attendance, minus any other aid.

Additional Considerations to Increase the Cost of Attendance:

Spousal Increase: Per student's request, we may increase up to 60% of living expenses (This is only considered for Fuqua students whose spouse is living with them during their studies at Fuqua, not employed and not a student)

One-Time Computer Increase: Students must submit an invoice or quote for the price of the computer in order to receive this increase up to the $2,500.

Summer Math Review Course: This fee ($950) can be added to the cost of attendance only after registration has been confirmed with Paula Sloan, Director of Quantitative Assessment and Academic Preparation.

Language Institute: Per student's request, we will increase the COA by $4,000 charge.

Study Abroad Expenses (i.e. Exchange, GATE, Global Consulting Practicum): Students can apply for this increase once they have been approved for the trip. The student will need to submit a financial aid application and apply for the additional funding with his/her lender based on the budget of the trip.

Duke Student Health Insurance Family Coverage: This increase may be made to the cost of attendance when proof of coverage is presented to the Financial Aid Office.

Non-Allowable Cost of Attendance Adjustments: Expenses incurred for interview activities coordinated by Fuqua (i.e. Weekend-In-Cities) and general interview trips are not considered for financial aid purposes because they are not standard requirements within the curriculum.

Please Note: Due to Federal Law, personal consumer debt (i.e., credit cards, car loans, etc.) cannot be factored into the Cost of Attendance.

FAQs

Who is considered for the Fuqua Merit Scholarship?
Every admitted applicant is considered for a merit scholarship.

How are the Fuqua Merit Scholarship awards determined?
Merit Scholarship recipients are selected by an Admissions Merit Scholarship Committee. The criteria for selection are prior academic achievement, demonstrated leadership, community involvement, extracurricular activities and professional accomplishments. These awards are for the two-year duration of the MBA program and range from partial tuition to full tuition.

Fuqua's Merit Scholarships are awarded on a two-year basis to enable applicants to plan for the entire cost of a Fuqua education. There is no funding for new awards in the second year. Thus, students who enroll without scholarship funding the first year should not anticipate an award for the second year of the program.

The Merit Scholarship awards are made independent of determining a student's eligibility for student loans and work-study employment.

Does Fuqua offer other scholarship or grant assistance?
Merit Scholarship awards are the only form of gift assistance offered by Fuqua. No other grants or scholarships are available. There are a limited number of award programs available to students who were not offered a Merit Scholarship. Based on academic standing and achievement, the Financial Aid Committee will select and invite students to apply for consideration at the end of the first spring semester. These modest awards are generally made during the summer or early fall.

How much can I borrow?
You can borrow up to your total Cost of Attendance.

Is a co-signer required for the loans?
For the Alternative loans, a U.S. Citizen or Permanent resident co-signer is required.
For the Coastal Federal International loan, a co-signer is not required.

What happens if I borrow more than the cost of tuition (i.e. living expenses)?
For students that are borrowing beyond the cost of tuition, loan disbursements will be posted to your student Bursar account as a payment towards your university charges first, and then the University Bursar's Office will issue a refund to you for living expenses.

When is my application due?
Applications should be submitted as soon as possible to cover the University charges by the tuition due date.

How are the funds disbursed to pay university charges?
The funds are sent directly to university bursar office.

Does the fact that I do not have credit history in the U.S. have an impact on my loan rate?
For Alternative loan borrowers, the rate is based upon the credit status of both the student and U.S. permanent resident or citizen co-signer.

For Coastal borrowers, we offer the same rate for all students based on admission to Duke. The credit report or lack of credit does not impact the rate at all.

What is a "grace period"?
A grace period is as an allotted amount of time, usually 6-9 months, after leaving school in which you are not required to make payments on your student loans. Although, payment is not due during this time, interest does accrue.

Can I make payments before I graduate and before the repayment period begins?
You are not required to make a payment before the grace period ends; however, you can make payments at any time with no pre-payment penalty. Accrued interest will be satisfied first.

If I choose to make payments while in school, is there a pre-payment penalty?
There is not a pre-payment penalty.

On the Private Education Loan Applicant Self-Certification form, what amount should I use?
Enter the annual cost and the estimated annual financial assistance you will need. Your Financial Aid office can provide these figures.