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Financial Aid Terms and Conditions — Undergraduate Students

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:

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. Students should not file a new CSS Profile after their first year at Drexel.

Saving/Printing your Award Summary

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 Listed is For One Academic Year Only

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.

Status of Your Aid

There are three possible status codes for financial aid awards, they are:

  • ACPT (Accepted) – This is the amount that will be applied to your University account at the beginning of each term.
  • ESTI (Estimated) – This is an estimate only of federal aid eligibility. Actual federal aid will be determined once Drexel receives your completed FAFSA. The state grant amounts are estimates only. It will be applied to your University account after your eligibility is verified. This award is being reviewed/validated by the state grant agency. Eligibility for these funds will remain estimated until the state agency has all requested documents and finalizes the award.
  • 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.

These codes can be found in DrexelOne, by following these instructions:

  • Navigate to the top of the Financial Aid summary and select "View Your Historical Information".
  • Select the correct aid year form the drop-down menu.
  • Choose "Awarded" from the options.
  • Select "Award Overview".

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 Awards

Pell Grant  Federal Pell Grants are awarded to matriculated undergraduate students pursuing a first bachelor's degree. Your Pell Grant award is based on your EFC. Federal aid is based on funding levels as determined by the U.S. Department of Education. 
Federal Direct Subsidized Loan  The Federal Direct Subsidized Loan is a need-based award based upon your FAFSA. The government will pay the interest on this loan while you are in school, during grace periods, and during any deferment periods. View more information about interest rates and annual eligibility amounts.
Federal Direct Unsubsidized Loan  The Federal Direct Subsidized 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. If you plan on working for an off-campus employer, you must contact the Work-Study Coordinator at workstudy@drexel.edu.  

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 an Entrance Interview 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 (6 credits) to retain federal student loan eligibility. 

State Grants

Pennsylvania State Grant (PHEAA)   Pennsylvania state grants are awarded to undergraduate Pennsylvania residents who are pursuing their first bachelor's degree. To maintain eligibility, you must make academic progress annually by completing at least 36 new credits for full-time and at least 18 new credits for half-time enrollment. Award amounts are determined by the PHEAA Grant Division, and based on funding levels approved by the Pennsylvania state legislature. 
Outside State Grants  Students from Delaware, Ohio, Massachusetts, West Virginia, and Vermont, as well as the District of Columbia (D.C.) may qualify for a grant that can be used at Drexel University. Please contact your home state grant agency for information regarding individual eligibility. 

Drexel University-awarded aid

Merit Scholarships  A merit scholarship is awarded to incoming full-time freshmen and transfer students based upon select criteria, including superior academic performance. Merit scholarships are renewable for future years of your degree program during quarters when you are registered full-time for classes (not during quarters you are on co-op), provided that you maintain a 2.75 cumulative GPA.   
Special Scholarships  Special Scholarships are financial awards from Drexel to students who meet certain criteria (certain special scholarships require supplemental applications). They are generally non-need-based awards and do not need to be repaid. The amount of any special scholarship offered, unless otherwise noted in the award description, is first applied to the cost of tuition; any remaining funding after tuition is paid will be applied toward general University fees and Drexel room and board charges. Requirements for renewing special scholarships are specific to the award; enrollment and GPA requirements for special scholarships are communicated at the time the awards are offered to students. 
Drexel Grant  The Drexel Grant is awarded to full-time, matriculated undergraduate students who are pursuing a first bachelor's degree and demonstrate financial need based upon completion of a CSS Profile. The grant is only available for the quarters a student is completing coursework (the grant does not pay during quarters students are enrolled in co-op). Students must be enrolled in at least 12 credits in their class terms (full-time threshold). 

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:

  • Living in a Drexel residence hall (also referred to as on campus)
  • Living in a private apartment/house (also referred to as off campus)
  • Living with parents or a relative (also referred to as commuting)
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