Students Parents of
Undergraduates Graduate &
Before you borrow, we recommend that all students apply for need-based aid. If you have already applied for aid and have received your aid letter from our office, you can use the links below to learn more about loan options to assist with your family contribution here at Duke.
Note: All federal and most private loans require the borrower to be a U.S. citizen or permanent resident.
Federal loans must be awarded by Duke and cannot be applied for independently online. Duke will determine your eligibility and offer the loan to you as part of your evaluation for financial aid.
To receive a federal student loan:
(Note: if you'd like to be considered for need-based grants from Duke, you should also complete the CSS Profile. Click here to learn how).
Depending on the results of your aid application, you may be offered a federal loan. Click on the name of the loan offered in your financial aid notification below to learn more about the rates and terms for your loan.
Note: If you have received your aid notification and no loan has been included, you should contact your financial aid counselor to discuss your application and whether borrowing will be necessary for you.
If your aid notification includes a subsidized Stafford Loan, your loan is subject to the terms below. In addition to the subsidized Stafford Loan, you may also have eligibility to borrow through the unsubsidized Stafford Loan program as well. If you think you may need to borrow more than the amount listed in your aid notification, you should contact your financial aid counselor.
For example: If you are a first-year student receiving a $3,000 subsidized loan, your maximum remaining eligibility for an unsubsidized loan would be $2,500 based on the chart above.
If your aid notification includes a federal Perkins loan, your loan will be subject to the rates and terms below. Please note: As of October 2015, the federal government has discontinued the Perkins loan program. If you have not already received a Perkins loan for the 2015-16 aid year, no new Perkins loans are available as the program has ended.
Credit Check Requirement
PLUS-Yes (however, debt-to-income ratio not included)
Depends on Loan, but generally yes
Perkins - 9 months
Stafford - 6 months
PLUS - 6 months
Depends on loan, but generally 6 months
Direct Subsidized Loan 3.76%
Direct Unsubsidized Loan 3.76%
Direct PLUS Loan 6.31%
Federal Perkins Loan 5.0%
Fixed and Variable
Perkins - None
Stafford - 1.073%
PLUS - 4.272% (if after 10/1/15 and before 10/1/16)
Depends on loan, but generally no fee
Penalty for Early Repayment
Depends on loan, but generally no penalty
Once your application process is complete according to the lender's instructions, Duke will receive confirmation from your lender and will add the loan to credit your Bursar bill.
Students are offered a Duke Educational Assistance Loan to cover the difference between the maximum annual subsidized Stafford loan and the total Duke loan in a package. If you were not eligible for a subsidized Stafford, the full amount of the loan in your package will be in a Duke Educational Assistance Loan. This loan will be automatically offered based on eligibility and cannot be applied for separately.
The Duke Educational Assistance Loan is
Students offered this institutional loan will need to accept it on ACES, complete on-line loan counseling, and a master promissory note. Directions will be emailed by ECSI with a link to complete the online steps. Click here for more information.
As a parent, you can apply to borrow on your student's behalf to help cover the cost of Duke. Parent loans do not impact a student's credit history or debt burden, but they do require a credit check for the parent borrower. The federal government offers a fixed-rate loan program with flexible repayment options, as do the private lenders included in this list. To find out more about which loan may be right for you, see the links below.
The Federal Direct PLUS Loan for Parents of Undergraduate Students, or PLUS loan, offers reasonable, fixed interest rates, generous qualifying credit criteria, and flexible repayment plans. Credit approval is required, and you must file the FAFSA.
For more specific details regarding the PLUS and the application process, please visit the Department of Education's website.
NOTE: The PLUS will not disburse to the student's account until 10 days prior to the start of classes each semester. For loans processed during the academic year, please allow at least 10 business days for disbursement (provided all steps have been completed).
Citizens One offers a fixed-rate loan for parents with starting interst rates of 6.95% APR with no origination fees. Click here to apply or learn more.
Wells Fargo offers variable and fixed-rate student loans for parents with no origination fees. Click here to apply or learn more.
While some private lenders offer loans directly to parents, many offer loans only to students and require a co-signer. If you would like to learn what options you have as a parent borrower or as a co-signer, follow the steps below.
While students may borrow from lenders not on Duke's recommended list, the lenders appearing on Duke's list participate in our FastChoice lender comparison tool. This tool can be used to compare rates, terms, and calculate your future payments.
Once your application is complete, Duke will receive confirmation from your lender and will post the loan funds to cover the student's bill at Duke.
Before you borrow, we recommend that you apply for aid through your specific graduate program. If you have already applied for aid and have received your aid letter, you can use the links below to learn more about loan options to assist with your cost here at Duke.
If you are a U.S. citizen or permanent resident, you may be eligible to receive federal student loans. To learn more, click the links below.
Federal Stafford loans must be awarded by Duke and cannot be applied for independently online. Your Duke financial aid office will determine your eligibility and offer the loan to you as part of your evaluation for financial aid.
To receive a federal unsubsidized Stafford loan:
Select programs may utilize federal Perkins loans for students who have completed the FAFSA. While you cannot apply for this loan directly, the terms of the federal Perkins loan are listed below for those who were determined eligible and have been offered this loan by your graduate or professional program:
Duke will determine if you are eligible for this loan once your FAFSA application is received.
The graduate PLUS loan is available to assist with costs beyond what can be covered through the unsubsidized Stafford loan program. If your annual expenses exceed the amount of your unsubsidized loan, you may be eligible to borrow the remaining costs through the graduate PLUS loan.
Note: By accepting the loan, you are authorizing the Department of Education to initiate a credit check. Credit checks are required for PLUS loan applications and are valid for 180 days.
Up to cost of tuition less any other aid received
Like many loans, you must first submit your FAFSA application to your nursing financial aid office. If you are eligible, you can be offered this loan through your official award notification. If you have been determined to be eligible, follow the steps below.
*Note: The Nurse Faculty Loan will not disburse to the student's Bursar account until 10 days prior to the start of classes each semester. For loans processed during the academic year, please allow at least 10 business days for disbursement (provided all steps have been completed).
PLUS-Yes (however, debt to income ratio not included)
Depends on loan, but generally yes
Direct Unsubsidized Loan 5.31%
Direct PLUS Loan 6.31%
Federal Perkins Loan 5.0%
Stafford- 1.068%; after 10/1/15 1.069%
PLUS- 4.272%; after 10/1/15 4.276%
While students may borrow from lenders not on Duke's recommended list, the lenders on Duke's list participate in our FastChoice lender comparison tool. This tool can be used to compare rates, terms, and calculate your future payments.