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Financial Information for Prospective Freshmen

2015-2016 U.S. Citizens and Permanent Residents

We are excited that you are considering an education at Drexel!

We also know that it can be difficult to figure out what information you should know and what steps you need to take in the process. The instructions below have been created to take you through the process and to provide you with the information you need.

Step 1: Learn the Financial Aid Basics

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!

Different Types of Financial Aid

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 you report on the CSS Profile and 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:

Step 2: Understanding the Cost of Attendance

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.

Direct Costs

  • Tuition
  • Fees
  • University Housing and Meal Plans (Room and Board) 

Indirect Costs

  • Books and Supplies
  • Computer 
  • Travel
  • Personal Costs

The charts below illustrates the cost of attendance based upon the standard fall, winter and spring quarter attendance for all freshmen students during the 2015-2016 academic year. 

Cost of Attendance for Students Living On-Campus

  Fall Quarter  Winter Quarter  Spring Quarter  Total
Tuition

$15,462

$15,462

$15,462

$46,386
Fees

$825

$790 

$790 

$2,405 
Room * $2,894 $2,894 $2,894 $8,682 
Board * $1,895  $1,895  $1,895  $5,685 
Books **    
Computer 

$670

    $670 
Travel $588 $588 $588 $1,764 
Personal Costs

$838

$838 $838 $2,514 
Totals  $23,172  $22,467 $22,467 $68,106 

* Room and board costs are based on three quarters of average university housing and dining plans.

** Quarterly book costs vary depending upon program.

You can view estimated tuition and fee information for all subsequent years based upon your specific program's plan of study at the Tuition and Fee Information for Prospective Students page.

Cost of Attendance for Students Commuting from Home

  Fall Quarter  Winter Quarter  Spring Quarter  Total
Tuition

$15,462

$15,462

$15,462

$46,386
Fees

$825

$790 

$790 

$2,405 
Meals * $1,895  $1,895  $1,895  $5,685 
Books **    
Computer 

$670

    $670 
Travel $588 $588 $588 $1,764 
Personal Costs

$838

$838 $838 $2,514 
Totals  $20,278 $19,573 $19,573 $59,424 

* Meal costs are based on three quarters of average university housing and dining plans.

** Quarterly book costs vary depending upon program.

You can view estimated tuition and fee information for all subsequent years based upon your specific program's plan of study at the Tuition and Fee Information for Prospective Students page.

Step 3: Complete Financial Aid Applications

There are two essential forms you will need to complete in order to be considered for financial aid:

CSS Profile

Drexel uses the CollegeBoard CSS Profile to determine eligibility for Drexel need-based aid. All students who are interested in need-based aid must complete a 2015-2016 CSS Profile so that the university has a complete understanding of your family's financial circumstances.

To complete the 2015-2016 CSS Profile:

  • Go to the Collegeboard/CSS Profile website.
  • Select the “Fall 2015 or Spring 2016” sign-in at the bottom left of the web page.
  • There is a fee required in order to complete the CSS Profile. The online application will automatically waive the fee for students who meet CollegeBoard's income requirements. 
  • Drexel's CSS Profile school code is 2194.
  • Drexel does require the Noncustodial Profile for students whose biological or adopted parents are divorced or separated.
    • If you are unable to provide information regarding your non-custodial parent please complete and submit the CSS Profile Non-Custodial Parent Waiver Request. Please note that Drexel will make a final determination regarding whether the circumstances you describe in your request are grounds to waive this requirement.

The submission deadlines for the CSS Profile based upon the admissions method you have selected are listed below. Please note that Drexel will not review CSS Profiles submitted after the established deadlines.

CSS Profile Deadlines
Early Action 1

November 18, 2014

Early Action 2

December 16, 2014 

Regular Decision January 28, 2015 

Free Application for Federal Student Aid (FAFSA)

The Free Application for Federal Student Aid is used to determine your eligibility for federal and state student aid.

Additionally, Drexel uses the information you provide on your FAFSA in conjunction with your CSS Profile to determine your eligibility for Drexel need-based aid. Both of these documents must be submitted in order to be considered for Drexel need-based aid.

  • You can review the instructions for completing the 2015-2016 FAFSA and start the application any time after January 1, 2015 at the FAFSA website.
  • Drexel's FAFSA school code is 003256.

Drexel strongly encourages you to complete the FAFSA by March 2, 2015, in order to receive a comprehensive financial aid package in enough time to consider before the May 1 National Candidates' Decision Day.

Private Scholarship Searches

In addition to completing the CSS Profile and 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:

  1. CollegeBoard Scholarship Search
  2. FastWeb
  3. FinAid
  4. FindTuition

Step 4: Review your Financial Aid Award Notifications

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.