Please Note: For the MMS: Duke Kunshan University program, loans are not available to international students (non-U.S. citizens without U.S. permanent residency). Scholarship are available. Learn more about scholarships.
International Student Loan with Coastal Federal Credit Union
The student loan program for Fuqua's international students is offered through Coastal Federal Credit Union.
Review the Frequently Asked Questions for further details regarding eligibility and payment information.
PLEASE NOTE: In compliance with the Office of Foreign Assets Control (OFAC), Coastal Federal Credit Union may not grant loans to students from countries with comprehensive sanction programs. As of December 2012, comprehensive sanctioned countries include Cuba, Iran, Northern Sudan, and Syria. Other countries may have selective sanctions that could affect Coastal's ability to grant a loan to students from that country. Click here for more information on OFAC sanctioned countries.
The Office of Foreign Assets Control (OFAC) is an agency of the United States Department of the Treasury under the auspices of the Under Secretary of the Treasury for Terrorism and Financial Intelligence. OFAC administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals against targeted foreign state, organizations, and individuals.
- A U.S. co-signer is not required.
- Notarization is required by a U.S. Notary.
- Access U.S. Notary services at a U.S. Embassy in the country where you reside.
- To ensure the continuation of our competitive international loan program, we require additional documents to facilitate an easier repayment/collections process. You must provide the following documents to complete your loan application:
- A copy of your Resident Identification Card — if this does not apply in your country, please click here.
For example: Chinese students should supply a copy of their Resident Identification Card (RIC); Indian students should supply a copy of their Permanent Account Number (PAN), issued by the Income Tax Office; Brazilian students should supply a copy of Cadastro de Pessoas Fisicas (CPF).
- A copy of your Passport.
- A copy of your Visa — for students who are holding a US Visa (F-1, H1-B).
- A copy of your country of origin Driver's License.
Rates: 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.
In the near future, the maximum borrowing eligibility will be reduced in an effort to help maintain a viable international loan program. Newly admitted students who will start their Fuqua program in 2014 may borrow up to 90% of their cost of attendance, minus any other aid.
Select and complete the appropriate Coastal Federal International Student Loan Application:
- For first-time borrowers who never applied for an International Student Loan from Coastal Federal Credit Union (Go to New Users on the right and click register)
- For returning second-year borrowers that have not registered with the online application tool but have borrowed and received the International Student Loan funds from Coastal Federal Credit Union. (Go to New Users on the right and click register) This is not the Coastal24.com user information.
- For continued borrowers who have registered with the online application, already borrowed and received lnternational Student Loan funds from Coastal Federal Credit Union, and for those requesting more loan funds. (Go to Returning Users on the left and use login user name and password)
The Coastal Federal 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 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 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.
- You are now applying for a line of credit to cover your entire educational experience.
- Fuqua has agreed to guarantee this cohort of student loans to obtain favourable rates for our international students. This means that Fuqua 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 in the international students chosen to attend Fuqua will make payment of their student loans a top priority.
Questions: If you have any questions after reading the instructions and reviewing the loan applications, please contact our Financial Aid Office at +1.919.660.8079 or email@example.com.