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• Overview |
• Merit Scholarships |
• Federal Stafford Loans |
• Graduate PLUS Loan  |
• Alternative Student Loan |
• International Student Loans |

Types of Financial Assistance for The Duke Executive MBA program

Merit Scholarships

Each year Fuqua funds a limited number of highly competitive, merit-based scholarships that are awarded to admitted applicants. The Duke Executive MBA Office of Admissions reviews applicants and makes award determinations after a student is offered admission to The Duke Executive MBA program.

Federal Stafford Loans

The annual loan limit for the Federal Stafford Loan (Subsidized and Unsubsidized combined) is $20,500.  Current Federal Stafford Loans have a 6.8 percent fixed interest rate.  Interests rates are set by the Department of Education and do not vary with lenders. 

Repayment begins six-months after graduation or termination of enrollment.  The minimum payment per month during repayment is $50, and the maximum repayment period is ten years using the standard repayment plan. 
Generally, a 3 percent federal origination fee and a 1 percent lender guarantee fee are deducted from each disbursement of this loan; however some lenders may reduce these fees.

Subsidized Stafford Loan

The Subsidized Federal Stafford loan is based on financial need* and is federally subsidized (interest paid during in-school enrollment and grace period by the federal government).  This enables graduate students to borrow up to $8,500 per academic year, with an aggregate loan limit of $65,500 (undergraduate and graduate combined).

*Eligibility for a subsidized loan is determined by using information provided in FAFSA results.

Unsubsidized Stafford Loan

The Unsubsidized Federal Stafford loan has the same terms and conditions as the subsidized Stafford Loan.  Graduate unsubsidized Stafford Loan borrowers may borrow the difference between any subsidized Stafford Loan up to the maximum loan amount of $20,500 per academic year.  The borrower is responsible for the interest that accrues during the in-school enrollment and the six-month grace period.

As interest accrues you may pay it while in school, or you can allow the lender to capitalize these charges and add them to the loan principal at the start of repayment. Students can borrow from the subsidized and unsubsidized Stafford loan program in one application. 

The aggregate loan limit for the federal Stafford Loan program is $138,500 (undergraduate and graduate combined).

You may visit the National Student Loan Data System (NSLDS) website to track the history of your federal student loan borrowing: http://www.nslds.ed.gov/nslds_SA/

You must choose a lender to apply for this loan program.

Please refer to the Duke University Recommended Lender List for some participating lenders. 

Federal Graduate PLUS Loan

The Graduate PLUS Loan is a credit-based federal student loan program with an 8.5 percent fixed interest rate.  Through this loan program, students may borrow up to their Cost of Attendance less other financial aid.  Before a student may apply for this loan program, he/she must complete the FAFSA and should be awarded the maximum Federal Stafford Loan ($20,500) for the academic year. Students should contact their lender of choice to apply for this loan for pre-approval.

There are two fees deducted from this loan:

1. A Guarantee/Federal Default Fee: up to 1 percent (Some lenders waive or reduce this fee)
2. An Origination Fee: 3 percent (Deducted from loan amount)

Repayment on this loan begins within sixty days of final loan disbursement. However, if the borrower is remaining in-school, they will automatically be granted the in-school deferment based on school certification.

After the borrower graduates or terminates their enrollment, the borrower may align their repayment of the Graduate PLUS loan with the six-month grace period on a Stafford loan through a forbearance request.

You must choose a lender to apply for this loan program.

Please refer to the Duke University Recommended Lender List for some participating lenders. 

Alternative Student Loan Program

Alternative student loans are often referred as private student loans.  For many students, alternative student loans are used to supplement or replace the personal resources used in determining eligibility for Federal Student Aid.  Generally, such loan programs provide for deferment of payments while the student is enrolled full-time and offers a six to nine month grace period (depending on the loan program) after graduation before repayment begins.  This loan may be used to cover remaining expenses up to the cost of attendance for the academic year.
Please note that students should secure a Federal Stafford Loan first before applying for an alternative student loan.

You must choose a lender to apply for this loan program.

Please refer to the Duke University Recommended Lender List for some participating lenders.

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 our other 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 who will be in the Durham area, you may drop the forms off at the Financial Aid Office (West Keller Room 109, 111, or 108).  In addition, the Financial Aid staff can refer you to an on-campus Notary Public to certify your signatures.

For those of you in the Cross Continent and Global programs, please note that we will be sending a Coastal representative to certify your signatures at the next residencies.  Please complete all of the application forms and send us the original forms as quickly as possible (express mail or other quick means which will track delivery).  We will begin processing your applications as soon as they are received, and the Coastal representative will bring the original applications with him/her to the next residency to witness your signature.

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.  The first  disbursement will be issued to the school after the application has been processed and your signatures have been certified.  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.

This student loan program will cover the Cost of Tuition and Fees minus the required deposit and other financial aid from additional sources.  The cost of travel expenses cannot be included in the requested loan amount.  

Should you have any questions regarding this loan program after reading the instructions and reviewing the loan applications, feel free to contact our Executive MBA Financial Aid Office at 919-660-7807 or emba_financial_aid@fuqua.duke.edu .

Instructions and Application Forms:

EMBA Coastal Student Loan Application

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