Evaluate Your Options
Here is an overview of the main types of aid included in a financial aid package so you can have a better understanding of what your family might receive.
Scholarships
There are many different kinds of scholarships available to freshmen. Scholarships can be awarded based on a student's academic performance, athletic achievement, or financial need. They may be provided by universities, private agencies and organizations, or by the state in which a student resides. Scholarships are gift aid that do not have to be repaid. Visit the Financial Aid website to learn more about the Undergraduate Grants and Scholarships offered at Drexel.
Grants
Grants are another form of gift aid that can come from a variety of sources. Like scholarships, grants can be offered by a university, a private organization, or the government at the federal, state, or local level. Eligibility for a grant may depend on financial need or on any criteria defined by the funding source. Visit the Financial Aid website to learn more about the Undergraduate Grants and Scholarships offered at Drexel.
Loans
A student's financial aid package may also include a loan. The federal government offers a variety of low-interest loans to both students and parents. This type of aid needs to be repaid. Families must fill out the Free Application for Federal Student Aid (FAFSA) to qualify. Our Loans page has information about the most common loan options for undergraduate students.
Work-Study
Employment under the Federal Work-Study program is awarded as part of the financial aid package to students who have demonstrated financial need. The amount earned is not applied to the student's tuition bill but is paid to the student through a paycheck. Money earned from employment is normally used for books, transportation, and personal expenses.
Payment Plans
Drexel students are billed for the entire year at the start of the fall term. This billing process gives families the flexibility of paying the bill in full or in installments. Since the remaining balance can be a significant expense even with a financial aid package, Drexel offers an installment payment plan. Through the plan, families can arrange interest-free payments according to their schedule. For more information about this payment plan, visit the Office of the Bursar.
Benefits for Veterans
Drexel students who have three years of Post-9/11 military service are eligible to receive tuition benefits through the government's Yellow Ribbon Program. Qualified veterans and their dependents can complete degrees in any of the University's full- or-part-time undergraduate, graduate, doctoral, and professional programs. Visit the Veteran Student Resources website to learn more about benefits for military veterans.
Travel Tuition Reduction Program
If you plan to visit campus during your college search, you may be eligible to receive up to $500 off of your full-time tuition. Through the University's Travel Tuition Reduction program, students are reimbursed expenses related to their Drexel visit. To learn more about this program and its conditions, visit our Travel Tuition Reduction Program page.
A Note on Drexel Co-op
Income earned while employed through Drexel Co-op will be excluded when calculating your estimated family contribution (EFC). EFC is used to determine one's level of eligibility for federal and institutional need-based aid. Learn about the Benefits of Drexel Co-op.
