Step 1: Before You Apply for Financial Aid
Research Your Financing Options
Students rely on funding from a number of sources to help finance their educations:
- Scholarships and grants are a type of gift aid awarded by the University based upon academic merit, athletic ability, or financial need. Scholarships and grants do not need to be repaid.
- Loans are funding options that come from an outside source. Loans must be repaid after graduation.
- Whatever financing options you choose, be mindful of the varying terms and conditions associated with awards and loans.
- Drexel's Net Price Calculator is a great resource for helping families plan ahead. Use our calculator to estimate the cost of a Drexel education and the aid you may be eligible for.
Determine if You Are an Independent or Dependent Student
An independent student is one of the following: at least 24 years old, married, a graduate or professional student, a veteran, a member of the armed forces, an orphan, a ward of the court, or someone with legal dependents other than a spouse.
Dependent students must include their parents'/guardians' information when filing the FAFSA. If you've never filed a FAFSA before and would like an estimate of your EFC, visit the federal government's FAFSA Forecaster.
Be Mindful of Important Deadlines
Drexel requires students to file the Free Application for Federal Student Aid (FAFSA). The FAFSA uses tax information from the student's family to determine what each family can contribute to the student's education. The FAFSA is a critical tool in the financial aid process, and we encourage all applicants and current students, regardless of means, to submit the FAFSA.
FAFSA deadlines are as follows:
| Student Type | Priority Deadline |
| New freshmen entering fall term |
January 1 – February 15 |
| New transfer students entering fall term |
January 1 – May 1 |
| New undergraduates entering winter, spring, or summer terms |
July 1 until your Admission Application Deadline |
| Current undergraduate students |
Renew annually
January 1 – May 1 |
| New graduate students entering fall term |
January 1 – February 15 |
| Current graduate students |
Renew annually
January 1 – May 1 |
| Medical (MD) and Law (JD) students |
Renew annually
January 1 – May 1 |
Apply for Your Federal PIN
Apply for your federal Personal Identification Number (PIN), if you don't already have one.