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 2-year duration of the MBA program and range from partial tuition to full tuition.
Fuqua's merit scholarships are awarded on a 2-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. 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 80% of your Cost of Attendance, minus any other aid (i.e., scholarships, other student loans).
Is a cosigner required for the loans?
For the alternative loans, a U.S. citizen or permanent resident cosigner is required. For the International Student Loan Program, a cosigner is not required.
What happens if I borrow more than the cost of tuition?
For students who 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 cosigner. For International Student Loan 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. Student loans carry a 6-9 month grace period (depending on the lender and loan program). Typically, the grace period begins on the last enrollment date of the program or graduation date. However, the grace period will begin on the date that a student drops below a half time course load and becomes a part-time student or withdraws from school.
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.