Financing the Degree

The Fuqua School of Business endeavors to make it possible for qualified students to attend Duke even though their own resources may be insufficient. Student aid is available in the form of fellowships/scholarships and through various student loan programs.

Scholarships and Fellowships

Each year a number of merit-based scholarships are available to incoming students. Decisions regarding scholarships are made by an Admissions Scholarship Committee. The offer of admission will indicate when a student can expect to hear regarding possible fellowship/scholarship assistance. The criteria for selection are prior academic achievement, demonstrated qualities of leadership, involvement in extracurricular activities, and professional accomplishments. Awards for Daytime MBA students are for the two years of the MBA program and range from partial tuition to full tuition and may only be applied to tuition payments. Awards for MMS, MSQM, and Executive MBA students cover part of the tuition. Funding is limited and is awarded as applicants are admitted to the program. New funding for awards is not available in the second academic year for the Daytime MBA, MSQM, or Executive MBA programs; thus, students who enroll without a fellowship or scholarship award should not anticipate an award in their second academic year.

Named Scholarships and Fellowships

Fuqua has more than 100 named scholarship awards that are available to incoming students who have been notified of a Fuqua scholarship award by Admissions. A list of named scholarship awards is available on the Fuqua website. Students will learn that Fuqua alumni support their journey in many ways—volunteering on boards, in the classroom, through student clubs, and via recruiting— including sharing their resources to make the Fuqua community better. These endowed scholarships are fueled by philanthropic gifts to the school from alumni, corporations, and friends of Fuqua. Selection of recipients is made during the summer/fall. Some awards have a special decision-making process to honor endowment restrictions. All such awards are coordinated through the financial aid office. Named awards replace or cover a portion of The Fuqua School of Business merit scholarships already awarded, but do not provide additional scholarship funding to the recipient.

Each year a small number of students are made admissions offers to join the Fuqua community as Keller Scholars. Keller Scholarships are named in honor of Dr. Thomas Keller, Dean Emeritus, and R. J. Reynolds, Professor Emeritus, who led The Fuqua School of Business to a position of international prominence in less than a decade. These awards, covering 100 percent of tuition, are funded by Fuqua and philanthropic support of the Fuqua Annual Fund. The Admissions Scholarship Committee selects Keller Scholars based on academic excellence and strong commitment to improving their communities through leadership and service.

Student Loan Programs Loans for U.S. Citizens & Permanent Residents

U.S. citizens/permanent residents have various options for borrowing the necessary funds to attend Fuqua. All student loans are disbursed to the student’s bursar account directly to offset university charges.

Loan Fast Facts

• Students may defer loan payments while they are in school.

• Student loans offer a post-graduation grace period.

• Both the grace period and the repayment period can vary by lender.

• Admitted students who are interested in applying for federal student loans and have completed their FAFSA after March 1 will typically receive their award notice within ten business days.

Student Loan Options

• Federal Direct Unsubsidized Loan

• Federal Direct Graduate PLUS Loan

• Private Alternative Student Loan

Applying for Federal Student Aid (Unsubsidized & Graduate PLUS)

• Complete Free Application for Federal Student Aid (FAFSA)

  • Duke/Fuqua Title IV Code: 002920

  • College Name: Duke University, The Fuqua School of Business

• Once FAFSA results and The Student Aid Report (SAR) are received, award eligibility will be reviewed.

• The student aid review process begins in March. Students will receive an electronic loan aid offer notice.

• Student accepts/reduces/declines the aid offer in DukeHub and completes the loan application process outlined in the loan aid offer notice.

• Once an applicant completes the required application forms, loan amounts will be scheduled to disburse to the student's Bursar account no earlier than 10 days before the start of class.

Applying for Private Alternative Student Loans

Complete one of the following student loan applications from the Duke University Recommended Lender List. Once the lender reviews and pre-approves the student’s loan request, they will send the school a certification request. The school will send a loan certification file to the lender, confirming the approval. Once applicant completes required application forms, loan amounts will be scheduled to disburse to the student’s Bursar account no earlier than 10 days before the start of class. 

Federal Student Loan Programs

Federal Direct Unsubsidized Loan: This is a federal student loan that enables graduate students to borrow up to $20,500 per academic year. The student is responsible for the interest that accrues while they are enrolled in school. The interest may be paid while the student is enrolled in school, or the student can allow the lender to capitalize the interest and add it to the principal at the time of repayment. The aggregate loan limit for the Federal Unsubsidized Loan program is $138,500 (undergraduate and graduate combined). If a student reaches the $138,500 loan program aggregate limit, then they will not be eligible for federal student aid. Borrowers are responsible for tracking their federal student loan history through the National Student Loan Data System (NSLDS). Access the following site to log-in or create a Federal Student Aid account to access NSLDS records: studentaid.gov.

Unsubsidized loans have a six-month grace period. 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.

Federal Direct Graduate PLUS Loans: This credit-based federal student loan may be used to supplement or replace expected contributions up to the standard cost of attendance. The Department of Education (the federal government) is the lender and they set the interest rates for Federal Direct Student Loans. A six-month grace period after the student leaves school is available upon request. All programs provide deferment of payments while enrolled full-time.

To learn about the current rates and terms for the Federal Unsubsidized and Graduate PLUS loans, please access this link.

Alternative (Private) Student Loans

Like the Direct Graduate PLUS Loan, alternative student loans are credit-based and may be used to supplement or replace expected contributions up to the Standard Cost of Attendance. Alternative student loans are private loans that are offered by various banks and lending institutions. Interest rates on alternative student loans will vary (depending on the lender). Many lenders use Prime or three- month LIBOR to help determine rates. These loans may have processing fees that are deducted at each disbursement or charged at repayment. All programs provide deferment of payments while enrolled full-time and may offer at least a six-month grace period after graduation before repayment begins. Because the terms and conditions vary more than Federal Direct Student Loan programs, additional information detailing these programs will be provided along with the individual financial aid award notification when eligibility for a federal loan is determined.

For more information about borrowing through a private/alternative education loan program, please visit this link for Duke University Recommended Lenders and the application process.

International Student Loan Options

The Fuqua School of Business offers both cosigner and no-cosigner international student loan options. For more information about the cosigner and no-cosigner loan options, access this link for Duke University Recommended Lenders.

Cosigner Options: Loans with a cosigner typically offer a lower interest rate. The cosigner must be a creditworthy citizen or permanent resident. Keep in mind that for some lenders, a student must have a social security number in addition to having a cosigner. Students may borrow up to 100 percent of their cost of attendance, minus other aid (i.e., scholarships, sponsorships, and other student loans).

No-Cosigner Options: International students using a no-cosigner loan option may borrow up to 100 percent of their cost of attendance (depending on the lender), minus other aid (i.e., scholarships, sponsorships, and other student loans).

External Funding Sources for International Students

Fuqua has provided a list of external funding programs from various international agencies here.