Loan Assistance Program (LAP)

Kristen Zolla (MBA, class of 2003) "The Loan Assistance Program gives me the opportunity to work at an organization that I love with a mission that I believe in without questioning my decision to take this position over a comparable position for a for-profit company that would come with a higher salary. Moreover, the [LAP] provides a service to the community at large by giving nonprofits and socially responsible organizations a chance to recruit and retain MBA grads who provide experience and skills which complement those of the typical nonprofit employee."

The Fuqua Loan Assistance Program (LAP) provides financial assistance, in the form of loan forgiveness awards, to qualifying Duke MBA-Daytime alumni who work full-time for eligible nonprofit and government organizations. The program, originally known as the Fuqua Loan Forgiveness Fund, was established through the generosity and vision of The Duke MBA-Daytime Class of 2001. We are grateful to those members of our community whose generous support of The Fuqua Annual Fund continues to make this program possible. Read testimonials from some graduates here.

The LAP is designed to support alumni pursuing a career in the nonprofit or public sector and their goals of making a tangible impact in the social sector. The LAP is not an entitlement; eligibility and selection are determined by the LAP Administrators, and awards are distributed on a funds-available basis. All determinations made by the Administration are final, and the Administration reserves the right to restructure the program as necessary at any time.

LAP Eligibility and Application Details:

FALL 2011:

The Fall cycle covers disbursements from January (2012)- June (2012). For alumni applying in the Fall 2011 cycle, the deadline for applications is October 15, 2011. First–time applicants can submit at any time and their materials will be reviewed on a rolling basis.

Eligibility requirements:

Loan eligibility – Loans incurred for the cost of the Duke MBA-Daytime program education only, including Federal and private loans
Employment eligibility – Full-time employment by a 501(c)(3) organization, governmental agency, or foreign equivalents.
Income eligibility - Alumni are expected to contribute toward the repayment of their Fuqua loans. The level of this self-contribution will rise with income. Every participant with an adjusted annual individual income at or below the threshold of $65,000 will contribute 3% of his/her adjusted annual income towards repayment of loans. For example, someone with an income of $50,000 would be required to contribute $1,500 per year. Every participant with an adjusted annual income above this threshold of $65,000 will contribute 3% plus an additional 1% of total income for every $5,000 by which his/her income exceeds the threshold. All tax-related matters are the responsibility of the award recipient.
Time eligibility - Alumni are eligible for loan assistance for any time they are employed with a qualifying organization within ten (10) years of their graduation.

Application Forms:

New Applicant Form – for first-time applicants to the LAP. Download and complete in full.
Renewal Application Form – for individuals already in the LAP program.

All applicants should email their completed application AND send a hard copy with supporting documents to the following address postmarked by October 15, 2011:

CASE: Loan Assistance Program
Duke University: The Fuqua School of Business
100 Fuqua Drive, Box 90120
Durham, NC 27708-0120
Fax: 919-660-1096
case@fuqua.duke.edu

SPRING 2012

We are conducting a strategic review of the LAP to streamline administration and ensure sustainability and fairness of the program. The Spring deadline for renewal applications is currently set for April 30, 2012. We will update this site and communicate directly with alumni regarding any changes to LAP policies in advance of the Spring deadline.