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Tuition Exchange

Drake University participates in the Tuition Exchange Program, along with over 670 other member schools.

Students who are approved for Tuition Exchange at Drake University will receive an award equal to the full cost of tuition, less any tuition-specific funds received from government or outside sources. Tuition Exchange awards replace all tuition-specific awards offered from the University. The Tuition Exchange award does not cover room & board, fees (including tuition overload fees) or other charges, and cannot be used for travel courses or study abroad.

Applications submitted at must be approved by the “export” institution before they are routed to Drake University. Drake’s deadline to receive “import” applications is December 1st. Applicants should ensure they meet the export institution’s application deadline and/or allow sufficient time for that institution to approve the application ahead of Drake’s December 1st  deadline.

The number of Tuition Exchange awards offered each year is limited. Complete and timely applications are considered in the following order until available awards are exhausted:

  1. Renewal awards for current Drake students
  2. New awards for current Drake students
  3. Renewal awards for former Drake students with remaining eligibility
  4. New awards for prospective Drake students, based on order of admittance to the University. If necessary, preference will be shown to those with financial need (as determined by the FAFSA).

Iowa residents approved for Tuition Exchange at Drake are required to complete the FAFSA prior to July 1 (preceding the academic year). Failure to do so may result in a reduction to the Tuition Exchange award equal to the maximum value of the Iowa Tuition Grant.


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