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Below are some of our most frequently asked questions. Select a question from the list to view the answer.

Will my financial aid change from year to year?

A change to your FAFSA information, enrollment status, academic performance, and/or housing arrangements could impact your eligibility.  If these factors are exactly the same each year, your aid should be consistent, pending availability and funding.

If I move off-campus, will my financial aid change?

In most cases, your financial aid will not change.  However, please check with Student Financial Planning on your specific awards if you have questions.  On-campus housing includes: Carpenter, Crawford, Goodwin-Kirk, Herriott, Jewett, Morehouse, Ross, and Stalnaker.  Drake West Village is not on-campus housing.

Do I need to file a FAFSA each year?

Yes, the FAFSA needs to be filed each year you wish to be considered for all forms of financial aid (it is an annual process).

Is there a deadline to file the FAFSA?

Drake has a priority deadline of March 1.  For Iowa residents to be considered for state-funded financial aid, the FAFSA must be filed by July 1.

If my parents do not claim me on their tax return, can I file for financial aid as an independent student?

No.  Tax filing status does not influence your ability to be an independent student for financial aid purposes.  To learn more, please see the information provided by Federal Student Aid regarding Dependency Status.

What must I do to renew my merit aid?

You must be enrolled full-time, maintain Satisfactory Academic Progress, meet the required grade point average for your scholarship, and have remaining semesters of eligibility.

What is tuition, fees, room and board?

Visit Drake's Summary of Tuition and Fees for current information.  Drake does not base tuition on state residency.

What payment options does Drake offer?

See Payment Options provided by the Office of Student Accounts.

How do I report a change of circumstances that might affect my eligibility for financial aid? What situations are considered?

Please call the Office of Student Financial Planning at 515-271-2905 or 1-800-44-DRAKE (Option 3) 8:00 a.m.-4:30 p.m. Monday-Friday to discuss your situation with a staff member.

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.

Will I get to use any of my Drake-funded scholarships or grants to study abroad/away?

Possibly.  To learn more about how your specific awards could be affected, it is recommended that you visit with a staff member in the Office of Student Financial Planning.  Room and board specific awards, Tuition Rebate, and Tuition Exchange cannot be used.

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.

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