Computer Store :: Purchase Plan

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.

Availability
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.

Eligibility
Persons: 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.

Products: 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.

Amounts: 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.

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 2007-2008, payments are calculated using an interest rate of 8.25% 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.