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• Overview |
• Merit Scholarships |
• International Student Loans |
• Work-Study |

DUKE MOVES TO DIRECT LENDING

Beginning with the 2010-2011 academic year, Duke will join hundreds of other U.S. college and universities in the Federal Direct Student Loan Program.  See full press release.


Type of Financial Assistance for The Duke MBA - Daytime Program 

Duke's 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:

Merit Scholarships

Every admitted applicant will be considered 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 include 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 tuition 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 listing 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. These awards are considered academic honors that may be included on your resume. No additional information or form is required to be considered.

Keller Scholars

The 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, endowed funds, and corporate donors. The merit scholarship committee selects those to be considered for these awards after considering excellence in academic endeavors and a strong commitment of improving their communities through leadership and service.

International Student Loans

The Graduate Student Loan Program for Fuqua International Students through Coastal Federal Credit Union (Coastal) offers a very competitive rate of prime plus 5% with no fees.  With the current prime rate of 3.25%, the rate would be 8.25%.  This loan does not require a U.S. co-signer. 

The new Coastal loan program is different from other student loan programs in several ways:

• You are applying for a line of credit with a local financial institution /credit union.  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 $25 to utilize their loan services.
  
• Coastal is a successful and long-standing financial institution but new to the student lending world.  We are very pleased that they have chosen to partner with Fuqua to fund our international student lending needs.  Since Coastal is new to student lending, and since Fuqua is anxious to get applications to you as quickly as possible, the attached package of forms is lengthier than future ones will be.  As this is the case, we have included a sample set of completed application forms to assist you.  Please read the enclosed application instructions carefully to ensure that you are completing the forms correctly to prevent processing delays. 
  
• As you are now applying for a line of credit to cover your entire educational experience; in future academic years, you will only need to complete the short Educational Loan Advance Application.
  
• Lastly but importantly, the Fuqua School of Business has agreed to guarantee this cohort of student loans to obtain favorable rates for our international students.  This means that the Fuqua School will be required to pay any defaulted loans, and as such, will take a personal interest in following up on delinquent payments and in collection.  We are making this investment because we have confidence the international students chosen to attend the Fuqua School of Business will become highly successful business people who will make payment of their student loans a top priority. 

You must print, complete, and submit the original loan application forms to the following address (faxed or scanned applications are not accepted): 

Financial Aid Office
The Fuqua School of Business
 Duke University
1 Towerview Drive
Box 90120
Durham, NC  27708-0120

Please note that the 'Pages' tab in the Adobe PDF application does not order the forms in the right sequence.  Therefore, you must print the entire application to receive the forms in the correct sequential order.

For those of you already on campus, you may drop the forms off at the Financial Aid Office (West Keller Room 111, 109, or 108).  In addition, the Financial Aid staff can refer you to an on-campus Notary Public to certify your signatures.

Please note that after our Financial Aid Office receives your completed loan application forms, it will take approximately two weeks for the loan application to process and for the first disbursement to be issued to the school.  All loan disbursements will be posted to your student Bursar account as a payment towards your University charges.  If your loan disbursement is more than your University charges, then the University Bursar's Office may issue a refund to you.  Please visit the Bursar's Office website ( www.bursar.duke.edu ) to learn more about the refund process.

Should you have any questions regarding this loan program after reading the instructions and reviewing the loan applications, feel free to contact our Financial Aid Office at 919-660-8079 or finaid-info@fuqua.duke.edu .

Instructions and Application Forms:

Daytime MBA/MMS 2009-2010 Coastal Student Loan Application

SAMPLE 2009-2010 Coastal Student Loan Application  
 
W-8Ben Instructions
 
W-8BEN Form

Federal Work-Study Program

The Federal Work-Study (FWS) Program is federally funded and supports the employment of students while they are in school. Once students complete the FAFSA and establish employment, they must visit our Financial Aid Office to be reviewed for FWS eligibility and to complete a Work-Study Authorization Form for payroll purposes. With Federal Work-Study, the federal funds and The Fuqua School of Business pay a student's salary jointly.

Students are responsible for securing their own employment within the school, which offers a variety of employment opportunities for interested students. Fuqua students average working six to eight hours per week and are paid by the hour biweekly for the hours worked.

Federal Work-Study awards are contingent on adequate federal funds being received by the University.

Please note that not all student positions require Federal Work-Study funding.