Student Loans for Drexel Students
About Drexel Financial Aid
As part of its mission and vision statements, Drexel is committed to attracting a diverse student body. To assist in developing socioeconomic diversity at Drexel, the Drexel financial aid program is robust enough for the university to offer financial aid to a significant number of students who apply for admission. In fact, Drexel’s admissions process is need-blind, meaning Drexel does not consider a student’s financial situation as a factor in admissions. This policy is not applicable to international students; however, exceptional international applicants may draw some interest, but the majority of international students are expected to find a way to finance their own education. Drexel also considers special financial aid awards on the basis of merit and athletic ability.
Applying for Drexel Financial Aid is a straightforward process, and is no different than with any other school. Before you apply for anything, be sure to speak to the Drexel Financial Aid office about any grants and/or scholarships you might be eligible for: these ‘free money’ awards are great, and you want to minimize the amount you might have to borrow, so squeeze as much out of these awards as possible. You should also ask if you will need to take out loans to cover the cost of attending Drexel. From there, file the Free Application for Federal Student Aid (FAFSA), which will be used by the federal government to determine your financial need, and by the Drexel Financial Aid office to determine your aid package. Once you file your FAFSA, your application will be complete, and you will receive an aid package some time thereafter.
Drexel Financial Aid Packages
Drexel Financial Aid comes in many forms in an effort to meet the needs of students. The most common form of Drexel Financial aid is an institutional grant, a ‘free money’ award that does not need to be repaid. In addition, Drexel financial aid packages often include federal loans, which is common for many schools. Drexel expects students on financial aid to work on campus and over the summer to earn some money to contribute to their educational expenses, so work-study programs are a common part of Drexel Financial Aid Packages. If a Drexel financial aid package does not cover the total cost of tuition, and additional federal loans are not enough to cover the cost of attendance, then students may consider taking out private student loans to fill the financial gap. If you think you may need to take out a private student loan to cover the cost of college, then just use the Student Loan comparison tool at the top of this page to search, compare, and apply for private student loans from a variety of lenders.
Frequently Asked Questions
Q:How can I apply for Drexel University financial aid?
A:Both prospective and currently enrolled students can apply for Drexel University financial aid by filling out the Free Application for Federal Student Aid (FAFSA). This standard financial form provides the Drexel University financial aid office with all the necessary information to determine a student’s financial need. The FAFSA should be submitted as soon as possible, as some forms of federal and/or institutional aid are given out on a first-come, first-served basis.
Q:Can you tell me about athletics financial aid Drexel?
A:Drexel University has a rich athletic culture and students often participate in sports, as the university offers scholarships to athletes who excel athletically. These scholarships can range from $1,000 to the total cost of attendance. Moreover, the university offers a scholarship for students of the performing arts, as well as other majors.
Q:Can Drexel students obtain Sallie Mae loans?
A:Drexel students can obtain private loans from any private lender, including Sallie Mae. However, students should apply for federal loans first, as they boast lower interest rates and relaxed repayment options. To apply for federal loans, students need to fill out the FAFSA.
Q:What affiliated awards are available with the financial aid at Drexel?
A:Drexel financial aid offers a number of affiliated awards, including the Dragon Alumni Scholarship, the Drexel Legacy Scholarship, the Drexel Early FAFSA Grant, and the Travel Tuition Reduction Program. All of these awards are available via Drexel financial aid and range from $500 to $3,000. In order to take advantage of these awards, students are advised apply before the appointed deadline dates.
Pay for Drexel University*
|Total Avg. Cost||$50,291|
|Room & Board||$10,800|
|Financial Aid Information|
|Students Receiving Fin Aid||99%|
|Typical Grant Amounts|
|Avg. Other Stud. Loans||$17,978|
|%Receiving Other Loans||28%|
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*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics