How It Works
Example 1
Meeting the Need of Middle Income Families
“Jason” wasn’t sure he would be eligible for financial aid, because his parents—a nurse and a teacher—have a combined income of $78,000. Still, he and his family filled out the necessary paperwork, and they were surprised to find that Duke became comparable in price to many state-supported universities.
Duke estimated $44,205 as Jason’s total cost of education: $32,601 for tuition and fees, $8,948 for room and board, and $2,656 for personal expenses, including books as well as two flights home to Philadelphia. Duke calculated Jason’s need as follows:
| Total Cost of Education | $44,205 (Jason’s total cost of education) |
| - Parent Contribution | - $13,500 (Jason’s parents’ contribution) |
| - Student Contribution | - $1,900 (Jason’s contribution from summer earnings) |
| = Demonstrated Need | = $28,805 |
Duke then put together a financial aid package that would meet Jason’s full demonstrated need. Initially, the package included an $1,800 work-study allocation, a $4,900 loan, and a $22,105 grant; but Jason also received a $1,000 grant from the Philadelphia Chamber of Commerce, which Duke applied against his loan. Jason also requested an additional $500 work-study allocation to further reduce his loan. Jason’s final aid package for 2005-06 included a $2,300 work-study allocation, a $3,400 loan, and grants totaling $23,105.