This group of frequently asked questions is for the 2017-18 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 2018-2019 school year:
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 it is recommended that you visit with a staff member in the Office of Student Financial Planning. Work awards and room and board specific awards will not apply to study away programs. 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.