Required Consumer Information

Drake seeks to fully comply with all relevant consumer information and disclosure requirements. Much of this information can be found on Drake’s Consumer Information webpage. Additionally, the U.S. Department of Education publishes a wide array of information about Drake University (and other institutions of higher education) through its College Navigator and College Scorecard websites.

Responsibilities of Financial Aid Recipients

Students are primarily responsible for understanding the requirements related to the various types of financial aid they receive. This information is readily available on the financial aid offer or Self-Service, Drake’s website, on www.studentaid.gov, or by contacting staff in the Financial Aid Office.

Students must establish financial aid eligibility by completing all required applications, forms, requests for information, and processing steps by established deadlines. Students must provide truthful accounts of their academic and financial aid history, including disclosing any financial aid (scholarships, grants, or loans) received from non-University sources. To be eligible for financial aid, students must not be in default on a federal student loan or owe a refund of a federal grant. Students must use financial aid only for costs related to enrollment in coursework that is necessary for an eligible Degree program at Drake University. Continued eligibility for financial aid requires compliance with relevant federal, state, and University regulations and policy, including maintaining satisfactory academic progress. Students who borrow loans are agreeing to repay those loans in accordance with their established loan repayment schedule.

Rights of Financial Aid Recipients

Information provided to Drake University for financial aid purposes is confidential and is safeguarded in accordance with the Family Educational Rights and Privacy Act (FERPA), the Higher Education Act, the Graham-Leach-Bliley Act, the Internal Revenue Code, and other relevant regulations related to the use, sharing, and protection of sensitive data.

Students may appeal an offer of financial aid if they believe it is unfair, incorrect, or based on incomplete information (including a recent change in financial circumstances). Appeals can be made by submitting an Appeal for Special Circumstances and submitting relevant supporting documentation. Appeals about Student Financial Aid policies or procedures may be made in writing to the Associate Director of Financial Aid.

In accordance with the Higher Education Act, Drake maintains a net price calculator to estimate the annual cost of education for a prospective undergraduate student.

All processed federal student loans are reported to NSLDS. Students may review their federal student loan borrowing history by logging in at studentaid.gov.

As a resource to students, Drake maintains a Preferred Private Lender List (available here). The lenders and loan options included on this list were selected based on the terms, benefits, and customer service they provide to borrowers. Drake’s lender list is reviewed annually to ensure that the benefits that the lenders offer continue to adhere to our criteria.

Any loan options that no longer adhere to our criteria are removed, and new loan options are added. At least two lenders will be presented to you at all times. You are free to choose any lender, including those not included on this list, without penalty.

Drake’s Financial Aid Office is committed to providing loan options and resources that prioritize the best interests of the borrower, and to do so with integrity and transparency. See Drake’s Education Loans Code of Conduct for more information.

In accordance with Federal Regulations related to Title IV funds, we are required to obtain consent from students regarding communication through electronic means (Consent to Electronic Business Transactions)

It is the choice of the student to do business electronically with Drake University. Please review the information below prior to giving consent and agreement. We recommend that you print out a copy of this disclosure and agreement, which includes this document and all of its contents, and maintain a copy for your records.

STUDENT CONSENT. By choosing “I consent” you affirmatively and voluntarily agree to receive, obtain, and/ or submit any and all documents and notifications from Drake University in an electronic form. These communications may be delivered via email (or a link set forth in an email) or online at the Drake University student portal. Drake University reserves the right to send records or information in paper form at any time.

SCOPE OF CONSENT. Electronic communications will include, but are not limited to, communications regarding financial aid and student accounts. You accept these electronic communications provided via email as reasonable and proper notice for the purpose of fulfilling any and all rules and regulations, and agree that such electronic communications fully satisfy any requirement that communications be provided to you in writing or in a form that you may keep. Your consent will be valid until you withdraw it. Your consent may be withdrawn by you by following the instructions provided below under the heading “WITHDRAWING YOUR CONSENT.”

WHAT YOU NEED- HARDWARE AND SOFTWARE REQUIREMENTS. To access and retain the electronic communications, you will need the following: an internet-connected device capable of web browsing and receiving email communications.

REQUESTING PAPER RECORDS. You may request paper copies of communications at no charge to you by printing the document(s) on the screen or by contacting Drake University directly at 515-271-2905.

WITHDRAWING YOUR CONSENT. You have the right to withdraw consent to receiving information electronically at any time. To withdraw your consent to receive information electronically after you have consented, you may contact the Financial Aid Office by calling 515-271-2905. You agree to receive documents electronically for a reasonable amount of time after your withdrawal of consent is received. You agree that any agreements already entered prior to withdraw of consent will be valid and binding.

If you do not consent, you will not be able to conduct business electronically with Drake University and will not receive electronic communication. We reserve the right to send records or information to you electronically even if you decline to accept this agreement to the extent we are permitted to do so by law. You may receive paper copies by contacting the Financial Aid Office at 515-271-2905; however there may be a delay in providing you with the communications. Required Title IV notifications/disclosures will be mailed to the home address on file. It is the student’s responsibility to update their information with the University.

CONTACT INFORMATION. You agree to keep Drake University informed of your current contact information. You may update such information by logging into the student portal or by contacting Drake University directly at 515-271-2905.

LEGAL EFFECT. BY SELECTING ‘I CONSENT’, YOU ASSENT TO THE TERMS. YOU ACKNOWLEDGE YOU HAVE READ THIS INFORMATION ABOUT ELECTRONIC SIGNATURES, RECORDS, DISCLOSURES, AND DOING BUSINESS ELECTRONICALLY. YOU CONSENT TO USING ELECTRONIC SIGNATURES, HAVING ALL DISCLOSURES PROVIDED OR MADE AVAILABLE TO YOU IN ELECTRONIC FORM, AND TO DOING BUSINESS ELECTRONICALLY.