Financial Aid Terms and Conditions for Graduate and Professional Students
In addition to reviewing the information on this page, all students are required to confirm they have read and understand the terms and conditions each year via their outstanding financial aid requirements listed in DrexelOne.
Reviewing Your Financial Aid Information
Carefully review your financial aid award information and all subsequent information Drexel sends you. You can view your financial aid information online:
- Admitted students - Discover Drexel
- Confirmed and Continuing students - DrexelOne
Financial aid information is listed for only the academic year indicated. Please check renewability requirements to determine what steps are needed in order to remain eligible or re-apply for financial aid for future years.
Domestic students should file a renewal FAFSA for every year they will attend Drexel.
It is important to note that Drexel does not mail financial aid award letters; all information is available online only. Students have the option to save their award summary as a PDF and/or print the information for their record keeping.
For both admitted and confirmed/continuing students, a "Print Your Award" button will be listed below the "Financial Aid Award" section of their online account. Select the button to generate a summary of the award and cost of attendance information. The summary can be saved as a PDF or printed.
Note: The summary will open in a new window, so please ensure pop-up blocking settings are turned off on your browser.
Financial aid displayed online via Discover Drexel represents aid only for the associated academic year. In DrexelOne, up to two years' worth of Financial Aid may be viewable, separated in tabs, depending on the time of year.
Domestic and U.S. Citizens must reapply for federal and state financial aid each year by completing the Free Application for Federal Student Aid (FAFSA). Drexel encourages you to file the FAFSA and your federal taxes early each year. You may file your FAFSA as early as October 1 each year. View Drexel University's priority FAFSA deadlines.
Confirmed/current students viewing their financial aid package in DrexelOne will see a status code with each award. The codes represent the following:
- ACPT (Accepted) – This is the amount that will be applied to your University account at the beginning of each term.
- OFRD (Offered) – This is an offer/estimate only (Federal Work-Study funding and federal loans are the only awards that will be listed as OFRD). You must accept the offered award via DrexelOne in order to receive the funds.
Note: Financial aid funds will not be applied to your student billing account until all requested documents are received and reviewed.
How Your Aid Eligibility Was Determined
Federal and state financial aid programs are awarded to eligible students who demonstrate "financial need" as determined by the FAFSA. Financial aid packages will vary based on number of applications received by the University's published deadline, number of students applying, and availability of funds; as well as by institutional, federal, state, and University guidelines.
Cost of Attendance
- Expected Family Contribution (EFC)
______________________________
= Financial Need
- Cost of Attendance is the total amount it will cost you to go to school for one academic year and includes tuition, fees, allowance for books, supplies, transportation, housing and food, and personal and miscellaneous expenses.
- Expected Family Contribution (EFC) is the number that is used to determine your eligibility for financial aid. This number results from the financial information you provided on your FAFSA application. The formula used to calculate the EFC was established by the federal government. View detailed information about the EFC calculation.
Understanding Your Financial Aid Awards
| Federal Direct Unsubsidized Loan | The Federal Direct Unsubsidized Loan is a non-need-based award based upon your FAFSA. Interest starts to accrue on the loan as soon as it starts to disburse. View more information about interest rates and annual eligibility amounts. |
| Federal Work-Study (FWS) | FWS is awarded to matriculated students enrolled at least half-time. FWS is paid directly to you every two weeks and is limited each term to the amount you have been awarded. FWS awards are NOT credited to your University account. View employment opportunities. |
Additional Information about Federal Student Loans
Once federal loans are accepted, Drexel will originate your federal student loans electronically. Once the loan is approved, you will receive a notice of guarantee/approval from the Department of Education. New federal student loan borrowers must complete a Master Promissory Note and Entrance Counseling online at studentloans.gov in order for loan funds to be disbursed to your student account. If you wish to reduce the amount of your student loan, contact Drexel Central.
You must maintain at least half-time enrollment (4.5 credits) to retain federal student loan eligibility.
| Merit Fellowship Awards | A merit fellowship is awarded to incoming graduate students based upon select criteria, including superior academic performance. Merit scholarships are renewable for future quarters when you are registered full-time for classes, provided that you maintain a minimum 3.0 cumulative GPA. |
| Law Scholarships (Law Students only) | Law students can be considered for a variety of scholarships based upon financial need and merit; learn more about Financing Resources. |
| Medical Scholarships (Medical Students only) | The Drexel University College of Medicine offers a number of scholarships each year based upon a variety of factors including field of study, personal characteristics, past academic accomplishments, loan debt, and parents' financial information. You must complete the FAFSA to be considered, which includes your parents' personal and financial information, as well as complete and the institutional scholarship application. |
Changes to Your Financial Aid
Drexel reserves the right to update your financial aid package at any time in accordance with all federal, state, and institutional policies or guidelines. You will receive email notification if there is any adjustment to your financial aid.
Some of the most common reasons for an adjustment to your financial aid are listed below:
| Changes to Enrollment |
Your initial financial aid award is based on your matriculation status at Drexel and your projected enrollment status as either a full-time or a part-time student. If you have questions about the impact of changes to your enrollment status, please contact Drexel Central. A complete withdrawal from a term may result in the partial or full cancellation of your financial aid awards. For more information on this process, please see the Return of Financial Aid Policy. |
| Changes to Housing Status |
It is important that you notify Drexel Central of any change to your housing status. If you completed a Free Application for Federal Student Aid (FAFSA), you should also update the housing status listed on your application. The three housing statuses are:
|
| Additional Funding Sources | It is your responsibility to notify Drexel Central about additional financial resources or aid you will be receiving. This includes tuition remission as well as University or non-University awards such as academic merit scholarships, outside scholarships, and grants. These awards may affect your current financial aid package and eligibility for funding (i.e., University-based, federal, and state grants; federal student loans). |
| Maintaining Satisfactory Academic Progress |
Academic records are reviewed at the end of every academic year to determine current academic progress. Future eligibility for certain financial aid awards is based on maintaining satisfactory academic progress. Please read the guidelines carefully to prevent loss of future aid eligibility. View more information about Satisfactory Academic Progress. |
Paying your bill
- Anticipated financial aid will appear (with the exception of Federal Work-Study) on your eBill, provided awards are accepted. Continue to review DrexelOne to ensure all student requirements have been satisfied.
- Financial aid may not cover your total charges. You must pay the amount due as indicated on your eBilling statement by the due date. View information on the eBilling schedule and a complete list of tuition and fees.
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