"Over the past decade, Duke's support for financial aid had been the fastest growing component of the university's operating budget, growing by 100 percent. This commitment to financial aid has enabled Duke to enroll a much more socially and economically diverse student body while significantly increasing the intellectual quality of our students. The two are not unrelated," Lange said.
Some 40 percent of Duke's undergraduates receive need-based aid from the university in financial aid "packages" that consist of grants, loans and work that average about $28,000. Of that, $21,000 is in outright grants from the university. Last year, Duke invested about $129 million in financial aid: more than $50 million for doctoral students, $19 million for professional school students and $59 million for undergraduates. Approximately three-quarters of the money for undergraduates went to students based on their financial need, with the balance used for athletic scholarships and a limited number of merit scholarships.
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