The Need-Based Aid Process

Duke uses the 568 Consensus Approach to Need Analysis to determine a family's annual parent contribution. Equity assets owned by the students, recurring student income, and a summer earnings expectation are combined to create an expected student contribution. The parent and student contributions are subtracted from the student's cost of attendance budget to determine demonstrated need. Once we have determined need, we create an aid package that equals each student's demonstrated need.

Using the 568 Consensus Approach we carefully review each family's financial circumstances as presented on the PROFILE, FAFSA, tax returns, and any supplemental information provided by the family. We are particularly attentive to nondiscretionary extenuating circumstances and encourage families to provide us with such information as appropriate. Family size, number of children in college, and the equity value of any assets (excluding formal retirement plans) are among the factors considered. As noted above, we do consider extenuating circumstances and request that we be provided with dollar-specific details regarding any such difficulties that might affect a family's ability to support educational expenses.

The assessment process can be expressed as a simple formula:

  Student's Cost of Attendance Budget
- Family Contribution         
=Demonstrated Need