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Grants

Grants are a type of gift aid, which is financial aid that does not need to be repaid.

Grants can be based on various criteria, but usually require financial need and the completion of the FAFSA. Because financial need is re-calculated each year based on a new FAFSA, grants are often subject to change. Detailed information about the grants available at Drake is provided below.

Federal Pell Grant

The Federal Pell Grant is available to eligible undergraduate students with high financial need, as determined by the FAFSA. Students that have already earned a bachelor’s degree are not eligible for the Pell Grant. The amount of the grant varies based on the student’s level of financial need and the number of credits in which the student is enrolled. The maximum Pell Grant amount for the 2019-20 academic year is $6,195.

Students may receive the Pell Grant for a maximum of 12 semesters of full-time enrollment (or its equivalent for less-than-full-time students). More information about the Pell Grant is available here.

Federal Supplemental Educational Opportunity Grant (FSEOG)

Grants under the FSEOG program are available to Pell Grant-eligible students. The typical FSEOG amount for a full-time student at Drake is $1,200 per academic year. More information about the FSEOG Grant is available here.

Iowa Tuition Grant

The Iowa Tuition Grant is available to eligible undergraduate students who are Iowa residents and are enrolled at a private college or University in Iowa. Eligibility is based on financial need, as determined by the FAFSA. To apply, students must complete the FAFSA by July 1st (preceding the academic year). The maximum Iowa Tuition Grant amount for 2019-20 is $6,000. Iowa Tuition Grants may be applied toward tuition and fees (see Cost Specificity of Awards). Students may receive the Iowa Tuition Grant for a maximum of eight full-time semesters. More information about the Iowa Tuition Grant is available here.

Future Ready Iowa Grant

The Future Ready Iowa Grant program assists Iowa residents who enroll at eligible Iowa schools in programs of study that are aligned with statewide high-demand jobs. Eligible students must not have had any college enrollment during the previous two academic years, but must have previously earned at least half of the credits required for an eligible baccalaureate degree program. The maximum award amount for the 2019-20 academic year is $3,500. Students may receive the Future Ready Iowa Grant for a maximum of 4 full-time semesters.

To apply, students must complete the Iowa Financial Aid Application and the FAFSA by July 1 (preceding the academic year). More information about the Future Ready Iowa Grant is available here.

Drake Grant

The Drake Grant is available to eligible full-time undergraduate students with financial need. To apply, students must complete the FAFSA. The Drake Grant supplements other University-funded gift aid up to a minimum threshold based on the student’s financial need.

Therefore, large scholarship packages may displace a student’s eligibility for the Drake Grant. Students receiving athletic and fine arts scholarships are not eligible to receive a Drake Grant.

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