Tuition Exchange

Drake University is a participating member of two tuition exchange organizations. 

Tuition Exchange awards replace all other tuition-specific awards offered from the University. They do not cover housing or meal plans, fees (including tuition overload fees) or other charges, and cannot be used for travel courses or study abroad. Tuition Exchange awards are available for a maximum of 8 semesters. Tuition Exchange awards may be used for the summer, but the summer will count as one of the student's remaining eligible semesters.

To be considered for Tuition Exchange, Drake must receive the tuition exchange application by February 1 (for consideration in the following academic year), and the student must be admitted to the University. Because financial need is a factor considered in the evaluation process, we recommend that you submit the FAFSA by February 1st as well.

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

1. New awards for current Drake students
2. New awards for prospective Drake students. Applications will be evaluated on several criteria, including merit, financial need, the student's academic program, and family educational history. 

Details specific to each of the programs are provided below.

Tuition Exchange Program (TEP)

New students who are approved for an award under the TEP will receive an award equal to the TEP's Set Rate. 

Applications submitted at www.tuitionexchange.org must be approved by the “export” institution before they are routed to Drake University. Applicants should ensure they meet the export institution’s application deadline and allow sufficient time for that institution to approve the application ahead of Drake’s February 1 deadline.

CIC Tuition Exchange Program 

Drake will offer at least three new full-tuition awards annually through the Council for Independent Colleges & Universities Tuition Exchange Program (CIC-TEP). 

To apply, complete the CIC Tuition Exchange Application and submit it to the exporting institution's CIC-TEP liaison. If you are eligible for this program, the exporting CIC-TEP liaison will submit your application to Drake University. For consideration, Drake must receive your application by February 1.