Loans (JD Program)
The majority of students attending Duke Law receive some form of financial aid. In fact, students will generally take advantage of both federal and private loans. The Office of Financial Aid strongly recommends that you research each type of loan available to you.
Federal Stafford Loans
Federal Stafford Loans are long-term educational loans that are made on the basis of a government guarantee. No collateral or cosigner is required. Banks, savings and loans, credit unions and other lenders make these loans.
You have the option of choosing a lender under the Stafford Loan Program. Duke University is a lender, offering efficient in-house application processing and attractive terms. Duke will pay one-half of the federally mandated 3% origination fee making the fee cost to you 1.5%. The federal government determines the interest rates annually. The Duke Stafford Loan will be serviced by the Sallie Mae organization and can be consolidated with other federal loans upon graduation. The Duke program also offers a 3.3% cash back benefit for 33 on-time consecutive payments. When processing loans, we will list Duke as your lender unless you provide us with your choice of another lender by submitting a promissory note from that lender.
Other Lenders:
Federal Graduate PLUS Loan
While the Federal PLUS Loan is federally guaranteed, payment of accruing interest (while the student is enrolled) is not subsidized. The program was created to provide loans to middle-income students who did not qualify for any or all of a Federal Subsidized Stafford Loan. Students must file a FAFSA or FAFSA Renewal Application to be considered for this loan
Alternative/Private Loans
You may choose to borrow from a number of alternative loan programs. Terms and conditions for these loans vary and are subject to change each year. A strong credit history is essential to borrow private loan funds to attend Duke Law School. The Financial Aid Office will provide an alternative loan comparison chart with your financial aid award package that includes the current year terms and conditions of each lender.
