This group of frequently asked questions is for the 2016-17 academic year.
1. WILL MY FINANCIAL AID CHANGE FROM YEAR TO YEAR?
Your aid is affected by your FAFSA information, academic performance, and housing arrangements. If these factors are exactly the same each year, your aid should be consistent. Your aid may be influenced by a change in any of these factors.
2. IF I MOVE OFF CAMPUS, WILL MY FINANCIAL AID CHANGE?
This depends on your specific situation. The Drake Grant is a need-based grant that is determined in part by your housing arrangement. The amount of this grant could decrease if you move off campus. On-campus housing includes only: Carpenter, Crawford, Goodwin-Kirk, Herriott, Jewett, Morehouse, Ross and Stalnaker.
3. DO I NEED TO FILE A FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) EACH YEAR AND IS THERE A DEADLINE?
Yes, the FAFSA needs to be filed each year (it is an annual process). The FAFSA information is used to determine your eligibility for most types of financial aid. The Federal
Processor must receive your FAFSA application by March 1 for you to be considered for priority financial aid.
4. IF MY PARENTS DON'T CLAIM ME ON THEIR TAX RETURN, CAN I FILE FOR FINANCIAL AID AS AN INDEPENDENT STUDENT?
Tax filing status does not influence your ability to be an independent student for financial aid purposes. As defined on the FAFSA, you must be able to answer yes to one of the following questions to be considered an independent student for the 2016-2017 school year:
• Were you born before January 1, 1993?
• As of today, are you married? (Also answer “Yes” if you are separated but not divorced.)?
• At the beginning of the 2016–2017 school year, will you be working on a master’s or doctorate program (such as an MA, MBA, MD, JD, PhD, EdD, graduate certificate, etc.)?
• Are you currently serving on active duty in the U.S. Armed Forces for purposes other than training?
• Are you a veteran of the U.S. Armed Forces?
• Do you have children who will receive more than half of their support from you between July 1, 2016 and June 30, 2017?
• Do you have dependents (other than your children or spouse) who live with you and who receive more than half of their support from you, now and through June 30, 2017?
• At any time since you turned age 13, were both your parents deceased, were you in foster care or were you a dependent or ward of the court?
• Are you or were you an emancipated minor as determined by a court in your state of legal residence?
• Are you or were you in legal guardianship as determined by a court in your state of legal residence?
• At any time on or after July 1, 2015, did your high school or school district homeless liaison determine that you were an unaccompanied youth who was homeless?
• At any time on or after July 1, 2015, did the director of an emergency shelter or transitional housing program funded by the U.S. Department of Housing and Urban Development
determine that you were an unaccompanied youth who was homeless?
• At any time on or after July 1, 2015, did the director of a runaway or homeless youth basic center or transitional living program determine that you were an unaccompanied youth
who was homeless or were self-supporting and at risk of being homeless?
5. WHAT MUST I DO TO RENEW MY MERIT AID?
Maintain Satisfactory Academic Progress and the required grade point average for your scholarship and have remaining semesters of eligibility.
6. WHAT IS TUITION, ROOM AND BOARD?
Visit Drake's Tuition and Fees page for current information.
7. HOW DO I REPORT SPECIAL CIRCUMSTANCES THAT MIGHT INFLUENCE MY ELIGIBILITY FOR FINANCIAL AID?
Loss of a job, death in the family, or extreme medical bills not covered by insurance are examples of special circumstances that can change your eligibility. Please call the
Office of Student Financial Planning at 515-271-2905 or 1-800-44-DRAKE (x2905) 8am-4:30pm Monday-Friday to discuss your situation with a staff member.
8. WILL I GET TO USE ANY OF MY DRAKE FUNDED SCHOLARSHIPS OR GRANTS TO STUDY ABROAD/AWAY?
If you are studying abroad through a Drake affiliated program, you will be able to use up to 50% of your semester's worth of Drake funded scholarships or grants with the exception of room and board specific awards.Tuition Rebate and Tuition Exchange cannot be used towards any study abroad/away, study abroad exchange, or professor led domestic or study abroad/away programs.
If you are studying abroad/away through a non-Drake affiliated program, you will not be able to use any Drake funded scholarships or grants. Call 515-271-2905 if you have questions.