The Duke University Computer Purchase Plan is a
loan program that lets currently enrolled students finance the purchase of a personal
computer system from the Duke Computer Store. Duke University funds the payment plan to
afford all students the opportunity to purchase a personal computer system in support of
their academic endeavors.
The payment plan will finance amounts from $500
to $3,000, inclusive, in multiples of $50, and amounts from $3,100 to $5,000, inclusive,
in multiples of $100.
The payment plan is available during the fall semester from
August 15th through the last day of classes. The payment plan is not available during exams,
between fall and spring semesters or during summer.
Eligible persons can purchase any personal
computer or peripheral equipment sold by the Duke Computer Store. Software, supplies,
service and accessories are ineligible products and must be purchased separately using
another approved payment method such as cash, credit card, Flex points, etc.
The payment plan is available to currently
enrolled, degree-seeking undergraduate, graduate and professional students. Non-degree
seeking students are not eligible. Faculty and staff may finance the purchase of computer
equipment through the Duke University Credit Union.
Terms and Conditions
The payment plan is a simple interest, retail installment sale
as governed by the State of North Carolina. Additional specific information is detailed on
the installment agreement.
Down Payment: A minimum down payment of twenty-five
percent of the total purchase price of the computer system is required to participate in
the payment plan. The exact down payment must be an amount such that the remaining balance
to be financed is an eligible amount as described above. The down payment must be made by
cash, credit card, personal check, or Flex points.
Payment Schedule: Eligible buyers may elect a repayment schedule from two
to seven installments, depending on the number of semesters until their anticipated
degree date. Payments are due, along with tuition and fees, prior to the start
of each subsequent semester, or two payments per year. Fall semester purchases
will appear on Bursar statements prior to the spring semester, and vice versa.
Interest Rate: For the academic year 2013-2014, payments are calculated
using an interest rate of 7.0% APR.
Default: Students whose enrollment
at the University is suspended or terminated for any reason are required to
repay any remaining balance immediately. Payment terms are not affected by leaves
of absence or sabbaticals.