There are several options for you to receive grants —awards primarily determined by financial need—to help you and your family fund your Drake education.
Below are examples of federal grants that can be incorporated into a financial aid package. To apply, you must complete a Free Application for Federal Student Aid (FAFSA).
The Federal Pell Grant
This grant provides assistance to undergraduate students who are working toward their first degree and have demonstrated high levels of financial need. For 2012-2013, the maximum award was $5,550.
Federal Supplemental Educational Opportunity Grants (FSEOG)
At Drake University, students eligible for Federal Pell Grants are also considered for FSEOG (as funds permit). Typical FSEOG awards at Drake are $750 to $1,500.
In addition to its merit-based and non-need-based scholarships, we will consider you for a Drake grant based on your financial need when you file the FAFSA. These grants are renewable but may vary in amount depending upon your academic record and financial need. In general, Drake grants are available for a maximum of eight full-time semesters.
Iowa Tuition Grants are need-based grants awarded to qualified Iowa residents planning to attend Drake at least quarter-time. In 2012-2013 the maximum grant is $3,840. The FAFSA deadline for the Iowa Tuition Grant is July 1. Several states provide "transportable" grants and scholarships that may be applied to your education at Drake. Your high school guidance counselor can help determine if your state offers this option.
Federal work-study awards are another kind of grant available to U.S. students based on calculated financial need. You apply for work-study awards by completing the FAFSA. If you receive a work-study award, applications will be available for you to complete at orientation. You may either accept the job assigned to you or pursue your own employment through Drake's Professional and Career Development Services.
Employment awards generally range from $500 to $2,000 a year. Wage rates are compliant with Iowa and federal wage laws and are based on the job skills required and experience desired by the employer. A typical Drake student works eight to twelve hours per week. A Federal Work Study award does not represent a guarantee of employment. Federal work study earned is paid directly to the student at the first of the month for hours worked during the previous month.
As an international student at Drake, you may apply for financial assistance based on financial need. The maximum aid awarded in 2013-2014 is $17,500 for freshmen and $15,100 for transfer students. These awards are renewable. Maximum eligibility reflects the total of any merit scholarship plus any need-based grant.
You may apply for need-based awards by completing the Drake University Application for Need-Based Aid form or the Foreign Student Financial Aid Application from the College Scholarship Service/College Board. Drake's 2013-2014 Financial Certificate should accompany your financial aid application.
Note to students admitted to the Doctor of Pharmacy (Pharm.D.) program: Need-based financial assistance and merit aid are available only through the fourth year of the six-year Pharm.D. program.
Our financial aid counselors are experts at explaining your financing options and helping you and your family budget resources. If you have any questions, contact the Office of Student Financial Planning.