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Proof of Finances

In order to get a DS-2019 document (used to apply for a J-1 student visa), exchange students must prove they have sufficient funds to cover estimated costs of their time at Drake.

Estimated costs for the academic year are outlined below. Students must complete the Proof of Finances for Exchange, showing they have funds to cover these costs, and upload it onto the Via application.

Examples of supporting documentation include:

  • bank statements showing sufficient funds on deposit
  • verification of financial aid or scholarships

You will need to present these same documents when you apply for a visa.

The Proof of Finances Form does not need to be submitted with your application and transcripts, but Drake cannot prepare your DS until the form and documentation have been received.

Drake University Exchange Cost Estimates 2026-2027

You must prove you have resources equivalent to the amounts listed below.

  Fall 2026 Spring 2027
On-Campus Room & Board $6,758 $6,758
Off-Campus Room & Board $5,454 $5,454
Books $267
($1,000 for Law)		 $267
($1,000 for Law)
Personal Expenses, Including Health Insurance $1,771 $1,771
Transportation $985 $985
Total* $9,781
($10,514 for Law)		  $9,781
($10,514 for Law)
Two Semesters: $19,560 for undergraduates ($21,903 for Law)

Further Explanation of Estimates

For undergraduate students this covers a shared room in the Drake residence halls and a full meal plan. Students will receive a Residence Hall Contract when they are accepted for exchange and must submit a $250 deposit with the contract prior to their arrival at Drake. This serves as a damage deposit and is refundable upon completion of the exchange if no damage charges are incurred. For law exchange applicants, or other graduate exchange, Living Expenses includes the off-campus housing apartment rental, utilities, groceries, kitchen supplies, etc.

Books in the U.S. are expensive. Law students’ book expenses will be higher than other students, depending on courses taken.

Drake has an insurance program that exchange students are required to purchase. This is required even if you already have another insurance policy. Fall coverage is August 1 – December 31. Spring coverage is January 1 – July 31. If you travel in the U.S. after your exchange ends, you will be covered within these dates.

This comprehensive estimate includes local transportation, phone, campus activities, medical co-pays, laundry, community events, entertainment, postage/packages/gifts, school supplies and personal needs such as shampoo or aspirin.

Students often will need to pay for transportation outside of the free bus rides in Des Moines for various reasons. This may also include any trips the student intends to take while they are studying at Drake or necessary trips to grocery stores or other outings.

The UKZN exchange agreement requires proof of sufficient funds to cover Books, Insurance, Transportation, and Personal Expenses. Living Expenses are covered by the agreement, but UKZN students are required to pay the usual $250 residence hall deposit. The deposit will be refunded upon departure if there has been no damage to the room.

Therefore, estimated costs for UKZN students are $3,302 for Fall, $3,302 for Spring, and $6,604 for two semesters; plus the residence hall deposit.