Federal Aid

Federal Direct Unsubsidized Loans the annual maximum amount available per aid year is $20,500 ($10,250 per term). This loan has an origination fee of 1.057% that is deducted from the gross amount of the loan when disbursement occurs per term.  Interest is fixed at 7.05% for loans first disbursed on or after July 1, 2023, for the 2023/24 academic year.  Interest accumulates daily while enrolled. There are lifetime aggregate limits that apply, which include amounts borrowed as an undergraduate.

Federal Graduate PLUS Loans There is a credit check component to this loan. Students must not have an adverse credit history. The Graduate PLUS loan can be borrowed up to your remaining cost of attendance (which includes indirect costs like housing and food). This loan along with your other financial aid like applicable scholarship and grants cannot exceed the cost of attendance budget for your program. This loan has an origination fee of 4.228% that is deducted from the gross amount of the loan when disbursement occurs per term.  Interest is fixed at 8.05% for loans first disbursed on or after July 1, 2023, for the 2023/24 academic year.  Interest accumulates daily while enrolled. 

Federal Work Study available as determined by data on the FAFSA; annual earning limits typically start at $4,000.  Students whose aid package includes work study will receive additional information.  Work Study pay is not credited towards your Duke Bursar account charges each term, rather it is paid to you monthly as you work throughout the term. Work Study earnings are potentially taxable income. If pursuing a Sanford assistantship, please submit the FAFSA to determine your work study eligibility.

Payments are lower at first and then increase, usually every two years, and are for an amount that will ensure your loans are paid off within 10 years

Payments are lower at first and then increase, usually every two years, and are for an amount that will ensure your loans are paid off within 10 years

Payments may be fixed or graduated and will ensure that your loans are paid off within 25 years.

Your monthly payment is based on annual income, but your loan will be paid in full within 15 years.

Your monthly payments will be 10 percent of discretionary income.

Your monthly payments will be 10 percent of discretionary income.Payments are recalculated each year and are based on your updated income and family size.

Your monthly payments will be either 10 or 15 percent of discretionary income

Your monthly payment will be the lesser of 20 percent of discretionary income, or the amount you would pay on a repayment plan with a fixed payment over 12 years.

Looking ahead to employment after graduation, as part of your hiring negotiations see if your employer would be willing to contribute to your student loan payments.

• Federal student loans come due six months after you graduate or cease enrollment of at least 6 credits per term. Interest accrues daily on graduate student loans.
• Start financial planning early. To get the most realistic student loan repayment prediction use the Federal Student Aid Loan Simulator.
• Borrowers who would otherwise be in repayment can defer their payments, such as being enrolled in a degree program or graduate fellowship, military or Peace Corps service, unemployment and others. To learn more about how a federal student loan can be deferred.