There are many important factors to financing your education; the most essential is to understand personal finances so that you make the best decisions. Drexel recommends that prospective students and their parents review the information prepared by the National Endowment for Financial Education: "40 Money Management Tips." This information is important to know no matter where you decide to go to school!
The first financial aid distinction you need to be aware of is the difference between need-based and non-need-based aid.
- Need-Based Aid - Financial aid that is awarded to a student who has demonstrated he/she and the family require financial assistance to pay for their education. This is determined from the information reported on the Free Application for Federal Student Aid (see Step 3).
- Non-Need-Based Aid - Financial aid that is awarded to a student regardless of whether he/she has demonstrated financial need.
There are several different sources of financial aid, and it is important to know where your awards are coming from.
- Drexel University - Drexel offers financial aid in the form of scholarships, grants and incentive awards.
- Department of Education - The federal government offers grants, loans and work-study funding.
- State Higher Education Association - Each state has its own Higher Education Association which handles state financial aid. The Pennsylvania Higher Education Assistance Association administers the state's gift-aid grant program.
- Private Organizations – Private organizations such as religious institutions and businesses sometimes offer scholarships and grants.
Click on the links below to find view more detailed information about differnet types of aid:
The cost of attendance is made up of two different costs: direct and indirect. Direct costs are those that Drexel will bill you for, while indirect costs are not charged to you by the University, but rather are costs that you may incur as a result of attending Drexel.
- Room and Board
- Books and Supplies
- Personal Costs
Drexel uses a quarter calendar that includes four terms: Fall, winter, spring and summer. Your academic department will determine your enrollment for your first year based upon the term you apply for admission and your transfer credit evaluation; this will in turn determine your overall cost of attendance for the year.
The chart below illustrates the cost of attendance for one quarter of classwork and one quarter of co-op. Please note that Drexel does not charge tuition during terms of co-op, but students do pay general University fees for all quarters of enrollment.
|Room and Board *
|Books and Supplies
* Room and board costs are based on three quarters of average University housing and dining plans. Students who will be living in private housing or at home with their parents will recieve a different Room and Board amount in their cost of attendance. For more information, please visit the Drexel Central Cost of Attendance Page.
** For more information about tuition and fee rates, please visit the Drexel Central Billing Information for Prospective Students web page.
There are two essential forms you will need to complete in order to be considered for financial aid:
The Free Application for Federal Student Aid (FAFSA) is used to determine your eligibility for federal and state student aid. Additionally, Drexel uses the information you provide on your FAFSA to determine your eligibility for Drexel need-based aid.
- You can review the instructions for completing the 2014-2015 FAFSA and start the application any time up until June 30, 2014 at the FAFSA website.
- Drexel's FAFSA school code is 003256.
Drexel strongly encourages students to complete the FAFSA at the same time as their admissions application to ensure that a financial aid package is completed for you in a timely manner. If you have already completed a 2014-2015 FAFSA for another institution, you will need to log back into the FAFSA website and add Drexel's school code to your application.
If you received financial aid from another institution during the 2014-2015 academic year, you will need to complete and submit to Drexel Central a Transfer Student Financial Aid Application. This form is used to determine how much of your annual 2014-2015 eligibility for federal and state aid you have remaining to recieve at Drexel.
In addition to completing the FAFSA, Drexel strongly recommends that you search for scholarships from private organizations and sources that can help you supplement the financial aid offered by Drexel, the Department of Education and your state.
Drexel recommends you use one of the following search engines when looking for private scholarships:
- CollegeBoard Scholarship Search
Financial aid award notifications are sent to students after they have been accepted to the University. The first financial aid award notification will be mailed to your permanent address on file and be available as a PDF on the Discover Drexel Portal. Any subsequent financial aid notification will be available as a PDF on the Discover Drexel Portal only.
Drexel understands that the information provided on the FAFSA does not always truly reflect a families' financial situation. For those students whose family is experiencing special circumstances, there is a process to consider re-evaluating the financial aid offered. To learn more about the process and who is eligible to apply, please visit the Financial Re-evaluation page.