HOW ARE THE FUQUA MERIT SCHOLARSHIPS DETERMINED?
Merit scholarship recipients are selected by an Admissions Merit Scholarship Committee. Merit scholarships are awarded based on a candidate's overall profile. The merit scholarship awards are made independent of determining a student's eligibility for student loans.
DOES FUQUA OFFER OTHER SCHOLARSHIP OR GRANT ASSISTANCE?
IS IT POSSIBLE TO BORROW FUNDS TO MEET THE COSTS OF ATTENDING FUQUA?
With a no-cosigner loan, you are eligible to apply for enough student loans to meet 80% of the cost of tuition, fees, books, and related living expenses as estimated in the Cost of Attendance. With a cosigner loan, you are eligible to apply for enough student loans to meet 100% of the cost of tuition, fees, books, and related living expenses as estimated in the Cost of Attendance.
HOW DO I APPLY FOR STUDENT LOANS?
You will select your lender of choice and complete the application with that lender.
IS A COSIGNER REQUIRED FOR THE LOANS?
A cosigner is not required for the International Student Loan.
WHAT HAPPENS IF I BORROW MORE THAN THE COST OF TUITION (I.E. LIVING EXPENSES)?
When a student borrows 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 LOAN APPLICATION DUE?
Applications should be submitted as soon as possible to cover the University charges by the tuition due date. Students who anticipate borrowing alternative student loans may consider contacting lenders earlier to make certain that they are creditworthy loan borrowers.
HOW ARE THE FUNDS DISBURSED TO PAY UNIVERSITY CHARGES?
The funds are sent directly to the 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 no 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.