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Alright, I plan to attend Duke and I believe that I should be alright in getting accepted. Of course it may not happen, but I'm taking the positive view. My family doesn't make much money though and I think I should get financial aid money, but what if my parents won't pay the additional money due? Is it possible to take the rest out on loans by yourself? Is that a wise decision? What else could I do to pay for Duke?

By Jwtullis (Jwtullis) on Sunday, September 05, 2004 - 01:28 am: Edit

Well, as someone who applied to Duke (though I'm now attending Rice) and went through the financial aid process, I would recommend, at this point, that you apply to as many outside scholarships as possible, no matter how small (the Robert C. Byrd scholarship is a good one that's very easy to apply to, though depending on what state you're in, it could be quite competitive). They could really add up in the end. Duke gives relatively good financial aid, especially if your family doesn't make enough money to finance your education, which was my situation as well. Hopefully, you'll get a majority of your aid in scholarships and grants that don't need to be paid back. The remainder of the money needed, Duke will usually issue loans for. Your family contribution will also require you to work during the summers, or during the school year if you get work study. Above these amounts, you can get outside student or parent loans to cover any remaining part of the family contribution. Keep in mind, though, that, year by year, any loans that Duke gives (Stafford, Perkins, etc.) will increase in amount. So, ultimately, these loans could add up to a hefty amount of debt upon graduation that should be considered when deciding whether or not Duke is the right decision for you. As I mentioned earlier, though, the outside scholarships will decrease loan amounts dollar for dollar, so they can definitely ease the burden. Just explore on websites such as Fastweb for all the potential scholarships that you could apply for.

Hope this helps, and good luck.

By Jauggernot (Jauggernot) on Wednesday, September 08, 2004 - 12:36 am: Edit

Thanks a lot for all of your help Jwtullis. I think I'll prolly look more into outside scholarships and such and hopefully not end up with too much debt upon graduation.