Freshman Financial Planning
To make sure that you thoroughly understand the charges for which Drexel will bill you, as well as the financial aid that you've been offered to help cover the costs of your Drexel education,we want to connect you to important resources that can assist you in planning your financial future while at Drexel.
You can view a recorded version of the New Student Financial & Registration Information presentation given during orientation here.
Here is an explanation of the major categories of your annual bill:
Remaining Annual Balance Due
Your annual balance due is determined by:
(Total Annual Billed Charges) – (Financial Aid that has Been Offered to You) = annual balance due
The Remaining Balance is your responsibility to pay, and there are various ways you can plan to cover it. Here are some resources:
- Drexel.Afford.com– This website hosts the free BorrowSmart service which offers advice to you and your family regarding various financing options for your education.
- Outside scholarships and grants– Many organizations offer gift aid to college-bound students.
- Parent PLUS loans– These are credit based loans that are available to your parents through the federal government.
- Private loans– A number of banks and other financial institutions offer private education loans.
- Payment Plan– The payment plan enables you to break your Remaining Balance into monthly payments rather than pay the entire amount in one large sum in September.
This is primarily based on whether or not you've chosen a 5-year/3 co-op; 4-year/1 co-op; or no co-op option. All students will pay the same total tuition at the end of their Drexel career, but depending on which option you've chosen, the annual amount varies.
You can view the different tuition rates at the Tuition and Fee Rates page. The tuition deposit you paid to secure your place in the freshman class will be crediyted on your first eBill.
Fees are charged in addition to tuition and cover various items such as student activities and equipment. Some fees depend on your major.
You can view the different fee rates at the Tuition and Fee Rates page.
Blue/Gold Dining Plan
First-year students are required to purchase a dining plan if they are not commuter students, and there are several options available. You will be billed for the plan that you've selected. Please see the Dining and Retail Services web site for information about the dining plans that are available.
First-year students are required to live in a University residence hall if they are not commuter students, and living arrangements come in many shapes and sizes. You will be billed for the kind of hall and room you've selected.
Please visit the University Housing web site to explore the many living options available to Drexel students and to find instructions on completing a Housing Appliocation.
The housing deposit that you paid to secure your room reservation will be released in June 2014.
All students at Drexel must carry active health insurance. You will be billed to be covered by the University's student health plan unless you provide proof that you are covered under another type of plan.
Please visit the Health Insurance and Immunizations Office web site to review the University's policy on health insurance coverage as well as the terms of the University's student health plan should you choose to purchase it.
International Students: You will automatically be enrolled in – and billed for – the University's student health plan. The only exception is if you are covered by an Embassy-sponsored plan.
The deadline for submitting Proof of Insurance is July 15. If you do not do this, you will be defaulted into the University's student health plan. A charge will appear on your bill and cannot be removed.
To submit proof of insurance, scan a copy of your insurance card and email it to email@example.com. Please be sure to include your name and student ID#. This must be received before the deadline date of July 15, 2013 for us to be able to process your waiver.
Drexel charges a $35.00 fee to all students for processing their immunization forms. This charge is added to your bill. If you are a domestic student, please visit here for more information. Information for international students and the immunization form are available at the Health Insurance and Immunizations Office web site.
Types of Financial Aid that has been Offered to You
If you've been offered scholarship or grant aid, you'll see an itemization of them on your Financial Aid Award Summary. Also known as "gift aid", these awards do not have to be repaid. The source of the award can be Drexel University, the state government, or the Federal government. You can access your most recent Financial Aid Award Summary by using your Drexel student ID number on the Drexel portal at one.drexel.edu.
This Federal loan must be repaid and requires at least half-time enrollment. You do not have to accept this loan. The government pays the interest on this loan while you're in school or at any time the loan payments are deferred.
This Federal loan must be repaid and requires at least half-time enrollment. You do not have to accept this loan. You are responsible for paying all interest on this loan when it becomes due, generally after you graduate or if you withdraw from the University and do not maintain enrollment at another institution.