#2 Best Colleges in Iowa

Drake Tuition & Cost

Des Moines, Iowa

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How much does it cost to attend?

Sticker Price
Costs for Drake University
Fee Cost
Books and Supplies$1,100
Other Fees$178
Room and Board $11,152
Other Expenses Budget$3,700

Annual Prices

The annual list price to attend Drake University on a full time basis for 2020/2021 is $60,328 for all students regardless of their residency. This fee is comprised of $44,198 for tuition, $11,152 room and board, $1,100 for books and supplies and $178 for other fees. Out of state tuition for Drake University is $44,198, the same as Iowa residents.

All price data is sourced from the 2020/2021 U.S. Department of Education National Center for Education Statistics survey.

Net Price

Net price is indicative of what it actually costs to attend Drake University when typical grants and scholarships are considered. The net price varies by family income and financial need.

Average Net Price 2019/2020
Net Price by Income Drake University
Family Income Net Price Paid
$0 to $30,000$25,309
$30,001 to $48,000$25,332
$48,001 to $75,000$26,088
$75,001 to $110,000$30,425

The average reported annual net price for Drake University for students receiving grants or scholarship aid was $30,321 in 2019/2020. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses

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Financial Aid

100% of full-time undergrad Drake University received financial aid in the form of grants, scholarships, fellowships from the institution or from Federal, State or local government agencies. This aid averaged $27,511 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 52% of students received Federal Student Loans averaging $5,226 and 16% of undergrads took out private student loans averaging $17,290.

Finanical Aid Drake University
Type Avg./Student Students Receiving
Total Grant and Scholarship Aid $27,511 100%
Institutional Grants and Scholarships $25,502 100%
Pell Grants $4,485 22%
Other Federal Grants $1,217 22%
State and Local Grants $5,828 14%
Federal Student Loans $5,226 52%
Other Student Loans $17,290 16%

Student Loans

To gauge a more realistic picture of what it may really cost you out of pocket to go to Drake University, we've modeled a ten year student loan with an original principal value of $94,680. The loan balance of $94,680 is a four year multiple of the $23,670 average net price. This is a estimate of what you could owe upon graduation if you were to qualify for average financial aid and what a degree really may cost. Should you not qualify for financial aid, you may owe significantly more when you graduate. Based on these assumptions, a monthly repayment of $903 could be required to satisfy your student loan.

Please note that financial aid is not guaranteed and is only available for qualifying students. Federal Student Loans are not grants and must be repaid with interest. The current Stafford loan interest rate is 2.75%.

Example Loan $94,680
Stafford Loan Interest Rate 2.75%
Time to Pay Off Student Loan 10 years
Example Monthly Payment $903.35
Total Interest Paid $13,722.20
Sum of All Loan Payments $108,402.20

Projected 4 Year Degree Price

4 Year Sticker Price
Year All Residents
1 $60,328
2 $64,157
3 $68,230
4 $72,561

Based on published tuition prices, we estimate the current cost of a 4 year bachelor's degree and living expenses at Drake University to be $241,312 - assuming graduation in normal time. The estimation assumes a 6.3% annual increase over the next 4 years which has been the recent trend for this school.

Credit Hour Cost and Price per Class

Credit Hour and Class Costs at Drake University
Price Per Credit 3 Credit Class 4 Credit Class
All Residents $1,133 $3,399 $4,532

Estimated cost for a class at Drake University based on published credit hour prices. Note that not all schools allow single class enrollment. These prices should be used for comparison purposes as to how much it may cost to take a class at Drake University versus other colleges.

Tuition Payment Plans Available

Drake University Payment Plans
Tuition Payment Plan Yes
Prepaid Tuition Plan No
Alternative Tuition Plan Yes
Guaranteed Tuition Plan No

Primary data source, U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=153269 IPEDS survey data for Drake University.