How should I apply for financial aid?
All students requesting loan assistance must complete and submit The Duke Executive MBA Financial Aid Form to the financial aid office. U.S. citizens and permanent U.S. residents requesting federal loan assistance must complete the Free Application for Federal Student Aid (FAFSA). The Free Application for Federal Student Aid may be found at www.fafsa.ed.gov. The Title IV code for The Fuqua School of Business is 002920. Once the financial aid office receives both the Fuqua financial aid application and the results of the FAFSA, a financial aid award notice will be sent. The FAFSA is made available after October 1 and should be completed with the federal tax returns filed prior to October 1 (e.g., the 2017-18 FAFSA would be completed with 2016 Federal Tax Returns). Once complete, the Department of Education will send the FAFSA results (The Student Aid Report, SAR) to the applicant. The SAR provides information that helps our Financial Aid Office determine the applicant’s Federal Student Aid eligibility. Please note that we will access electronic SARs after March 1 for review and will begin emailing award notices to admitted students. Applicants are encouraged to complete the FAFSA prior to their admission decision.
When should I apply for financial aid?
Students requesting financial aid must apply each academic year of their program. We recommend students apply for financial aid as soon as your federal tax information is available.
How will I know if my financial aid application is complete?
Generally, we will begin the Financial Aid review in March for the upcoming academic year. Approximately one week after you submit your FAFSA, you will receive a Student Aid Report (SAR), which will indicate the receipt and initial processing of your application. Our financial aid office receives an electronic copy of the SAR. The FAFSA data for students is reviewed for accuracy and completeness. If additional information is needed, you will receive a written request from Fuqua. If no additional information is required or after requested information is received and reviewed, you will receive a financial aid award notice. If you are admitted and have completed your FAFSA after March 1, it will take approximately 10 business days to receive an award notice. Once you have completed your loan promissory notes as instructed in the award notice it will take approximately 2-3 weeks for your lender to follow up with an approval notice/disclosure statement verifying your approval.
How is financial aid eligibility calculated?
Financial aid eligibility is based on the information provided by students on the FAFSA. Cost of Attendance, income and assets of students, and tuition assistance from employers all factor into the determination of financial aid eligibility.
Once my financial aid eligibility is calculated, how much financial aid can I expect to receive?
The financial situations of students can vary greatly, so we cannot provide set amounts for what students can expect to receive. However, most students receive a combination of federal and/or alternative student loans to help pay for tuition.
When can I expect to get a response from your office?
Students who have completed both the FAFSA and The Duke Executive MBA Financial Aid Form by the recommended dates can expect a Financial Aid Award at least 1 month prior to the start of the term.
What is a financial aid award?
The award notice will outline the available loans and information regarding the recommended lender for both federal and alternative student loan programs. Detailed information about the loan process will accompany the award notice.
I received my financial aid award, but I have additional questions about the information I received.
Please read the general information and loan instructions included with your financial aid award first. If there are remaining questions, you may contact our office.
I received my financial aid award, but I need additional funds.
Students must request additional loan funds that exceed their cost of attendance in writing. If the request is granted, students can apply for alternative student loans to help cover the cost of attendance for their program each academic year. Please see the Duke University Recommended Lender List for additional recommendations.
When should I start contacting lenders to apply for student loans?
Contact lenders after you have received your award notice. However, since alternative student loan programs are credit-based programs, students who anticipate borrowing alternative student loans may consider contacting lenders earlier to make certain that they are creditworthy loan borrowers.
Most of the student loan applications are completed and processed electronically. Therefore, paper applications are unnecessary. Generally, you will visit a lender's website to apply for a loan and electronically complete the promissory note. Subsequently, lenders will transmit your loan request to our financial aid office, so the loan may be certified and processed electronically.
When do I repay my student loans?
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. The Graduate PLUS Loan's grace period is granted by request only.
Before it is time to start repayment you should receive a repayment schedule from the lender of your student loans. This disclosure should inform you of the total amount borrowed, current interest rate, and the total amount you will pay over the life of the loan if you follow the repayment schedule.
I received my tuition bill, but my financial aid does not show up.
Financial aid is disbursed to the student bursar accounts no earlier than 10 days before the start of each term. The Duke Executive MBA Program Office is aware of this guideline. As a result, students receiving financial aid from guaranteed sources (such as federal loans/alternative loans) only need to pay the amount of tuition that their aid does not cover. The student receiving financial aid can review their financial aid award to determine disbursement amounts.
Can I view my financial aid status online?
Admitted students can view their financial aid award online through DukeHub. Your Net ID and password are required to log in.
I am receiving tuition assistance from my employer. How does this affect my financial aid?
Employer Tuition Assistance is considered an additional financial resource and will affect eligibility for student loans.