In 2022, tuition for full-time students at Drake University was $47,564 a year.
Tuition increased 4% in 2022–from $45,734 the prior year. On average, colleges raise tuition about 3% each year.
Remember, the total cost of tuition isn't necessarily what you will have to pay to attend a school. Many students owe far less than the sticker price after grants, scholarships, and tuition discounts are applied. Additionally, student loans can make the amount you do have to pay for college feel more doable until you're done with college.
Drake University is a private, nonprofit institution, which means it has the same tuition for students from Iowa as it does for students who live in other states.
Public colleges and universities receive funding from the state government. Public insitutions often offer reduced tuition for students who are residents of that state.
Choosing a college where you qualify for in-state status can cut the cost of college tuition. Take the time to check your state's guidelines for how to qualify for in-state residency. Each state has different requirements to qualify as in-state resident. In many states, students must have lived in the state for 12 months before starting school to qualify for in-state tuition. There may be additional requirements too, depending on the state you and your parents currently reside in.
Tuition at Drake University is the same for each student.
International students are not eligible for loans or grants from the U.S. government, but should research private or school-specific grants, scholarships, and other funding opportunities.. International students with need may be eligible for the following types of financial support at Drake University:
•Drake University-specific scholarships
International students without financial need may be eligible for merit-based institutional scholarships and athletic awards.
Tuition is not the only cost of attending college; there are other costs associated with college, like room and board, facility fees, and books and supplies. Let's take a look at what impacts these costs, and what to expect at Drake University.
Housing and campus dining at Drake University costs $11,570 a year. This includes the cost of living in dorms or other on-campus housing, plus a dining plan that enables you to eat in the Drake University's on-campus cafeterias and dining facilities. Students who live off campus but still want to use the dining facilities can pay for a meal plan. The cost of a mean plan, or board-only, is $4,770.
Board costs vary based on on the numnber of meals you intend to eat on-campus
The cost of books often surprises first-year college students. The real cost of books and supplies depends on the courses you take and what kinds of books and materials they require. To save money, many students choose to use books from the library or buy books from students who have already taken the course.
The majority of colleges also have fees to offsets cost associated with maintaining facilties, like the computer labs and libraries, athletic facilities, and more.
Keep in mind, there could also be other costs associated with participating in special activities, like joining a fraternity or sorority, or participating in sports or other extracurriculars. Most colleges offer ways for students who may struggle to participate because of cost can find ways to lower or eliminate these fees.
The cost of getting around in college depends on a few key factors. Will you drive, fly, or take public transportation to school? Is on-campus parking free, or will you need to budget for parking? Is the campus small enough that you can easily walk from class-to-class?? Do you plan to bring a car or are you planning to use public transportation? All of these factors can drastically impact your transportation budget. Keeping in mind, first-year students are allowed to park a car on campus.
A school's location can impact transportation costs. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the flip side, getting around in a city might be costly, but there may be more buses, trains and low-cost flight options to actually get to school. Drake Universityis located in a urban setting in Iowa.
When estimating your budget for college, don’t forget to consider personal expenses, like going out to eat or see shows, furnishing your living space, and things like haircuts, clothes and, yes, even toilet paper and shampoo.
Now, let’s go over all of the costs we've covered, to get a better estimate of the actual cost of attending Drake University.
What will the cost of attending Drake University be? Here is a breakdown of tuition and expenses.
|2022 Total Tuition and Expenses|
|Room and Board||$11,570|
The total estimated cost will vary depending on whether you are going to live on-campus or off-campus.
|Total Estimated Costs|
The breakdowns above provide a good estimate of the total cost of attendance before financial aid and scholarships. Tuition and fees may vary depending on program, course level, location, and more.
Drake University’s tuition and fees change based on: •Academic program for both full and part-time students •Class time for part-time students •Course load for both full and part-time students •Course level for both full and part-time students
The majority of Drake University undergrads use financial aid to to cover the cost of tuition. In 2022, 1,708 of the 2,902 undergrads enrolled received financial aid. Drake University meets 79% of the demonstrated financial need for undergraduates.
The average financial aid package for a full-time, first-year student is around $34,820 a year. Around 58% of Drake University undergrads take out student loans to cover any remaining costs. Drake University graduates who have student loans graduate with an average of $32,978 of student loan debt.
The average debt for each loan type varies.
|Average Debt By Loan Type|
|Drake University-Specific Loans||$6,710|
|Most Common Loans for Drake University Students|
Most students take out institutional or government loans, because they tend to have lower interest rates and more flexible repayment options than private loans. Loans from the federal government can be subsidized or unsubsidized. Subsidized loans do not accrue interest during school, while unsubsidized loans begin accruing interest at the time the loan is issued. If students do no qualify for enough federal loans to cover the cost of tuition, some take out private loans. Parents can also take out ParentPLUS loans, which are government loans for parents who are helping their children pay for college.
The Free Application for Federal Student Aid (FAFSA) helps colleges determine how much financial need students and their familes have, so they can offer a financial aid package that meets, or come close to meeting, their need. For more information on Drake University financial aid, keep reading, or visit their financial aid website.
Some students may receive grants and scholarships to help pay for college. Unlike loans, scholarships and grants do not have to be paid back.
In 2022, Drake University awarded 1,667 need-based scholarships to students, giving away total of $44 million to help students with financial need cover the cost of school. An additional $28.15 million in merit-based scholarship money was awarded to students without demonstrated financial need.
The net price of college is the actual cost of attending a school for one year. Net cost is calculated by subtracting any scholarships, grants or other aid that does not need to be paid back from the total cost. Student loans are not part of the calculation, because they need to be repaid.
Now that we have a sense of the total estimated costs for Drake University students, we can subtract the average financial aid package to find the estimated net cost. Net cost can vary depending on a students’ need and the financial aid award received.
When considering whether a school fits your budget, it is important to consider the estimated net cost, not just the sticker price of tuition. Often, schools with the highest tuition also offer the most generous aid packages, so estimate your net cost before eliminating a school because it does fit your budget.
The average amount of financial aid received by a full-time first year student with demonstrated need at Drake University was $34,820 in 2022. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Drake University seem more manageable.
|Estimated Net Cost for Full-Time Students|
What will attending Drake University really cost you? The answer depends on several factors.
As of 2011, colleges are required to have a net price calculator on their website to help prospective students and their families understand the actual cost of attending that school, based on their financial situation. You can find the Drake University's net cost calculator on their website.
Some students choose to use payment plans to make the cost of tuition fit more comfortably in their budget.
Drake University offers an Installment Payment Plan, which allows students to pay tuition in a series of smaller chunks instead of one lump sum.
Schools sometimes offer tuition waivers to certain groups, to make attending more affordable. Some schools offer tuition waivers for faculty, staff, and their families , underrepresented students, or military students. Even if you qualify for a waiver, students are usually responsible for housing, meal plans, and other expenses.
Drake University has some full or partial tuition waivers available for: - Employees or Children of Employees
Check the financial aid website for more information on payment plans and tuition waivers.
Click below to find out more about the admissions requirements and deadlines, student life, academics, majors and more.
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Data Source: IPEDs and Peterson's Databases © 2022 Peterson's LLC All rights reserved
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