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Loan FAQs

What do I have to do to receive student loans after they have been awarded?

You must accept the loans through your ACES account.

How do I receive the federal loans offered to me?

Accept the loans through your ACES account. After acceptance, you will be required to complete the Entrance Loan counseling and Master Promissory Note for the Federal Direct loans. Perkins loan recipients will receive an email from ECSI two business days after accepting this loan with instructions on how to complete the Promissory Note and Entrance Exam online. Once these requirements have been completed for the federal loans, the funds will disburse to your Bursar account 10 days prior to the start of each term.

What is a subsidized federal Direct Stafford loan?

A subsidized Stafford loan is awarded to ABSN students based on financial need. Interest is deferred while you are enrolled at least half-time. Repayment begins 6 months after you are no longer enrolled at least half-time.

What is an unsubsidized federal Direct Stafford loan?

ABSN students who do not demonstrate need and all graduate students completing a FAFSA may borrow an unsubsidized Stafford loan. An unsubsidized loan accrues interest from the time of disbursement until it is paid in full. Accrued interest will be capitalized; that means it will be added to the principal amount of the loan when it enters repayment. Repayment of principal and interest begins 6 months after you are no longer enrolled.

What is a Direct Grad Plus loan?

This is an unsubsidized loan available to creditworthy MSN, PMC, and DNP students, as well as parents of dependent ABSN and Health Informatics Certificate students. There is no financial need requirement for this program. Graduate students must first exhaust their eligibility for federal Stafford loans before they can apply for this loan. Repayment begins 60 days after the loan is fully disbursed. Borrowers may request a deferment while enrolled at least half-time.

How do I apply for a Grad Plus loan?

Apply for this loan by completing the FAFSA and Federal Direct Plus application through A credit check is required to receive this loan.

How long do I have to wait to apply for another Grad Plus loan?

Credit checks and loan approval are only valid for 90 days. Please do not apply for a Grad Plus loan sooner than 75 days before the start of classes. If the loan approval expires, the loan funds will not disburse.

How many credit hours must I be enrolled to receive federal loans?

Students must be enrolled at least half-time (4.5 credit hours for each fall and spring semester and 3 credit hours for summer semester) to receive federal loans (Stafford, Grad Plus, and Nurse Faculty Loan Program).

When will my federal loan disburse?

Federal loans disburse 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 required steps have been completed.

My award says “Additional Loan Eligibility.” What does this mean?

We have indicated the maximum amount you may borrow from a private loan for the 2012-13 academic year. This is calculated by taking your total cost of attendance and subtracting any scholarships, grants, or loans awarded to you. You will need to select a lender, apply, and be approved based on a credit check. Please be sure to borrow the minimum amount needed to reduce your total student loan debt.

How do I apply for a private loan?

To apply for a private loan, you must first select a private lender. Please review Duke’s Lender List to help with the selection of a private lender.