The Fuqua Loan Forgiveness Fund (LFF)

Thanks to the generosity and vision of the Fuqua Daytime Class of 2001, the Fuqua Loan Forgiveness Fund (LFF) has been established to provide financial assistance, in the form of semi-annual loan forgiveness awards, to qualified Fuqua Daytime alumni who work full-time for eligible nonprofit and government organizations.

The nonprofit and public sectors are increasingly looking to business-inspired methods and approaches for addressing social problems. Concerns about the effectiveness of traditional charitable and governmental strategies have resulted in a shift in mindset from meeting needs to reducing needs, from charitable relief to systemic solutions, from social spending to social investment. These trends have led to a growing demand amongst nonprofit organizations and public institutions for management skills and business expertise. In response to these needs, many leading social sector organizations are hiring MBAs who are interested in applying their skills to having positive social impact, and MBAs are finding these opportunities to be both challenging and personally rewarding. However, even with some organizations raising the salaries for MBAs above their sector norms, salaries and potential financial rewards for MBAs working in the social sector remain below the standards in consulting, banking, high-tech start-ups, brand management, and other more traditional MBA careers. The LFF is designed to help reduce these financial disincentives and ensure that pursuing a career in the nonprofit or public sector is an option for Fuqua Daytime alumni.

Eligibility will be based on several different criteria, including

• Loan eligibility - only need-based loans, such as Perkins and Stafford loans or equivalents for international students

• Employment eligibility - 501(c)(3) organizations, governmental agencies, and foreign equivalents

• Income eligibility - applicants above a specified income level will only receive partial financial assistance

More info on the program and details regarding eligibility are contained in the following attachments:

PROGRAM DETAILS (".doc" format, you will need Microsoft Word to view it.)

APPLICATION (".doc" format, you will need Microsoft Word to view it.)

Potential recipients must complete the application in its entirety. Applicants should email their completed application to the email below, AND send a hard copy with supporting documents to the following address:

Beth Anderson
Fuqua School of Business
Box 90120
Durham, NC 27708-0120
case@fuqua.duke.edu

SOME HELPFUL INFO TO KNOW BEFORE YOU APPLY

Please review the attached documents, which thoroughly outline eligibility requirements for both applicants and employers. It is the intention that before officially applying to the program, applicants should be able to gauge whether they would be eligible for assistance.

Application Deadline Dates

• First-time applicants will be reviewed on a rolling basis, subject to cut-off dates in March and September.

• Renewing applicants will be reviewed in March and September.

• The Fall 2004 deadline for all applicants is September 30th. The Spring 2005 deadline is March 1.

Disbursement Dates

• Award disbursements will be made in May and November. These months were selected since graduating students typically receive at least a six-month grace period for need-based loans.

Graduating students may apply to the LFF program while still enrolled at Fuqua and considering career options; however, while students would be notified on a rolling basis if they are approved, they would typically not receive their first LFF award until November following graduation.