Drake University Financial Aid and Scholarships
Students Receiving Aid
96%
Total Aid Amount
$62.984M
Financial Aid Official Website
www.drake.edu/finaid/
Among them are scholarship programs such as All Iowa Opportunity Foster Care Grant, August & Edna Zahatko Scholarship, Bill & Hilda Macomber Alta Kahl Scholarship, and College Opportunity Scholarship. Interestingly, almost all of the students at DU receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $9,308,150 in a year. At DU, the total percentage of applicants who receive the Federal Grant stands at 21%. Meanwhile, 100% of the applicants receive the Student Grant and 100% are awarded the Institution Grant, while 21% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,405, and the same stands at $5,773 for State Grant awardees and $23,903 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,273. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Candidates are also required to repay these loans within a given period. Every year, around 55% of the applicants to Drake University opt for student loans.
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