Financial Support

Duke University is strongly committed to its program of financial support and, for the four years of undergraduate enrollment, will meet 100 percent of the demonstrated need of each eligible admitted US citizen or eligible noncitizen. The university’s financial support program includes both merit and need-based scholarships, work-study, and all federal grant and loan programs.

For US citizens and eligible noncitizens, an applicant’s need for financial aid, or the fact that a student has applied for financial aid, will not disadvantage a student in the admission process. Students needing assistance are strongly encouraged to apply for funding at the same time as for admission. Students awarded support funding will be notified at the same time they are offered admission, assuming all required documentation has been received.

It is the intention of the Karsh Office of Undergraduate Financial Support to set each award at a level consistent with a family’s ability to meet the costs of attending Duke University. This will be done by taking into consideration the contribution that can reasonably be expected from the student and the family.

Financial Support for Entering First-Year Students

Candidates should initiate their application for financial support concurrently with their application for admission. Instructions outlining the specific requirements and deadline dates will accompany application materials. To receive institutional funds, two forms must be submitted, the Free Application for Federal Student Aid (FAFSA) to the federal processor and the PROFILE application to the College Board’s Scholarship Service (CSS). Students applying for federal loans and grants, not Duke University aid, must complete only the FAFSA. If a student’s parents are divorced or separated, both parents must submit the PROFILE and one parent must submit the FAFSA. Students may be asked to submit copies of their and their parents’ federal income tax returns (all forms, schedules, statements, and W2s must be included). Early Decision and Regular Decision applicants are required to submit their tax information directly to the College Board for processing by the Institutional Documentation Service (IDOC). Students will receive information from the College Board about the IDOC process. All tax information is then sent to Duke electronically by the College Board.

International students interested in obtaining need-based financial aid must apply for financial support at the time of admission to be eligible to receive need-based aid in any year of undergraduate study. To apply, students must complete the International CSS Profile online. A Statement of Foreign Earnings for both parents or a copy of the most recently completed tax return for both parents must be submitted to the College Board IDOC Service. For further information about financial assistance for international students, visit their website at financialaid.duke.edu/apply-aid.

Renewal of Financial Support after the First Year

Each year, domestic students must file an application for renewal of need-based financial aid. All students must complete a new Free Application for Federal Student Aid (FAFSA), and students may also be asked to complete a new PROFILE form and submit a copy of all pages, including schedules and attachments, of the parents’ and student’s federal income tax return. Students will be notified electronically of the documents necessary to receive their financial aid renewal. The deadline for the receipt of all application materials by the Karsh Office of Undergraduate Financial Support is January 2. All qualified students may receive need-based aid for up to nine semesters (eight semesters of fall and spring plus two summer terms).

To have financial aid renewed, a student must meet the requirements outlined in Duke’s policy for Satisfactory Academic Progress for Financial Aid. Students not qualifying for financial aid due to their inability to meet these requirements may appeal directly to the Karsh Office of Undergraduate Financial Support. Students holding merit scholarships are required to maintain an average considerably higher than the minimum required for need-based financial aid recipients. Specific details regarding retention standards will be provided to scholarship winners.

Summer School Financial Support

Financial support is available for a total of two summer sessions but only for Duke programs. No financial support is available for non-Duke summer programs. Students may choose to attend two summer sessions as part of a ninth semester of aid eligibility. Interested students can obtain more information about summer financial support, budgets, and eligibility at financialaid.duke.edu/making-most-your-aid/summer-study.

Tuition Plans

Many families finance a college education with the assistance of an insured tuition payment plan regardless of whether they receive financial assistance from Duke. The university is pleased to offer a five-month interest-free payment plan each semester through Nelnet. An application fee will apply. More information can be obtained from the Bursar’s Office or by visiting duke.afford.com.

Types of Financial Support

Gift scholarships or grants, long-term loans, and employment are integral parts of the financial support program, and some portion of the financial support offered an undergraduate is normally in each of these forms.

The work-study opportunity and loan(s) offered as financial aid are considered to be the self-help portion of the award. The standard package at Duke provides that the first $2,200 to $7,200 of each student’s need be awarded in the form of self-help funds. Funds awarded in excess of this amount will generally be grant funds. This combination of university grant funds and opportunities for self-help enables Duke to extend its resources to a larger number of deserving students.

Employment

Most financial aid recipients are offered work study as part of their aid package. All students interested in working during the school year should review the jobs posted at duke.studentemployment.ngwebsolutions.com. All earnings are paid directly to the student for hours worked.

Duke University also expects that students receiving financial aid will contribute to the cost of their education. First-year students should have a minimum contribution of $2,600 toward college expenses. In subsequent years, minimum student contributions will be $2,900 for rising sophomores, and $3,000 for rising juniors and seniors.

Duke University also offers subsidized employment opportunities to many students not qualifying for need-based financial aid (Duke Work Study). Interested students should submit the appropriate aid applications. Additional information about how work study works, types of work study, and how to apply can be found at financialaid.duke.edu/work-study.

Loans

The loan programs that are available to students through Duke University are listed below.

The Federal Direct Loan is available to students who may borrow up to $5,500 as first-year students, $6,500 as sophomores, and $7,500 as juniors and seniors. Interest rates are set annually by the Department of Education and published on its website. Students who demonstrate need by filing the Free Application for Federal Student Aid (FAFSA) may qualify for a Direct Subsidized Loan, and interest does not accrue while the student is enrolled at least half-time in an accredited degree program for Direct Subsidized Loans. Students not demonstrating need, according to the FAFSA, or those having borrowed the full subsidized amount already, may borrow through the Unsubsidized Loan program. Interest on unsubsidized loans accrues while the student is in school, and the student may choose to capitalize on the interest or pay it as it accrues. Repayment for both loans begins six months after the student is no longer enrolled at least half-time as a degree candidate at an accredited institution

The Federal Direct Parent Loan for Undergraduate Students (PLUS) allows qualified parents to borrow up to the cost of education minus other financial aid. The proceeds from this loan may only be used to pay the current year’s costs of attendance. The interest rate is fixed and published annually by the Department of Education, and repayment of this loan begins within sixty days after the first disbursement for the academic year. Borrowers who have a student enrolled at least half-time may be eligible for deferment of payment. Federally mandated credit checks are required for all PLUS applicants.