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  • Update: Interest Freeze On Federal Student Loans Extended Through September 30th, 2020

    What does this mean for you and how will your payments be affected? Find out more by visiting studentaid.gov!

  • Stay Informed With Updates At https://keeplearning.duke.edu/!

    Review FAQs directly from Duke University. Additional questions or concerns? Feel free to reach out and we'll do our best to find you an answer. 

  • Our Office Has Moved Online!

    Interested in learning more about your personal finances? Click on the "Contact Us" button to access our appointment calendar and make a phone appointment today.

  • What is Personal Finance @ Duke?

    Welcome to our website! Personal Finance @ Duke is a program designed for the Duke community to feel empowered to make informed financial decisions today and prepared for the financial responsibilities of tomorrow. 

Your Money. Your Choices.

Your Future.

Financial Topics

Budgeting

Savings

Credit

Taxes

Privacy & Security

Banking

Loan Repayment

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Thinking about the new school year? Make your back-to-school financial plan!

It's never too early to begin preparing for the start of classes and another year at Duke, especially when it comes to making spending decisions or assessing your upcoming expenses. Here are our tips for a successful, back-to-school financial plan:

  • Identify your sources of income- this could be in the form of refunds from student loans or wages earned in your job

  • Review your anticipated expenses and be sure to include any upfront costs you may have before the start of school

  • Create a spending plan by mapping out your income to cover your upcoming expenses 

  • Make an appointment with one of our staff members to discuss your spending plan

 

Tips and tricks

  • Pay Down Your Interest

    Paying towards your interest while in school and during your grace period can help save you money- any interest that is remaining once repayment begins will be capitalized or added to your principal balance. That means you'll have to pay interest on interest. Do what you can to chip away your accrued interest and avoid capitalization. 

  • Save Money On Interest

    Most loan servicers offer a .25% interest rate reduction when you activiate auto-pay for your monthly payments.

  • Passwords

    Use complex passwords.  The Duke community can download LastPass  for free from the Office of  Information Technology's website.

  • Start Young

    Start saving and investing young to take advantage of the awesome power of compound interest.

  • How is your Self Control?

    If you are prone to spontaneous spending, consider keeping your credit card in a safe place instead of carrying it with you.

  • Cup of Joe

    Make your own coffee at home.  If you spend just $3.50 every workday for your latte or cappuccino, you're losing over a thousand dollars per year.

  • Tips are Taxable

    Tips are subject to federal income, Social Security, and Medicare taxes.

  • It's Not Income

    Don’t think of credit cards as another source of income!

  • Stop Unwanted Solicitations

    Opt out of credit card solicitations here.

  • Buying Online

    Many credit card companies offer virtual account numbers that increase the security of online purchases because they are good with only one merchant for only one month.

  • Prompt reporting can save you

    If you do not report fraudulent bank account activity within 60 days of the statement where it appears, the entire loss will fall on you.

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