Scholarships, Grants, and Loan Trends at Drake

3%

Received Percent Changed

$13,333

Received Amount Changes

Over the past 10 years (2015-2023), the average number of students who received grants aid/scholarships is 2,937, which is 95.89 % of all undergraduate students. 1,497 students which is 48.67% of undergraduate students received federal student loans and the average loan amount is $6,998.

For full-time, first-time beginning students (freshmen), 99.78% of students received grants or scholarships and 54% of students received student loans.

All Undergraduate Students Financial Aid Over Time

The following table shows the trends of financial aid for all undergraduate students at Drake University since 2014.

For that period, the average number of students who received grants aid/scholarships is 2,937, which is 95.89 % of all undergraduate students. 1,497 students which is 48.67% of undergraduate students received federal student loans and the average loan amount is $6,998.

YearGrant or Scholarship*Pell GrantsFederal Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average AmountNumber Received (percent**)Average Amount
2014-153,166 (94%)$17,152536 (16%)$4,0861,709 (51%)$7,935
2015-163,158 (95%)$18,200541 (16%)$4,0041,703 (51%)$7,992
2016-173,089 (95%)$19,377511 (16%)$4,0501,632 (50%)$7,589
2017-182,959 (96%)$21,286541 (17%)$4,3211,551 (50%)$7,483
2018-192,868 (95%)$23,585564 (19%)$4,2731,445 (48%)$6,442
2019-202,859 (97%)$25,777557 (19%)$4,5291,440 (49%)$6,337
2020-212,766 (97%)$28,167528 (19%)$4,8901,278 (45%)$6,434
2021-222,808 (97%)$29,576558 (19%)$4,7701,376 (47%)$6,377
2022-232,762 (97%)$30,485594 (21%)$5,1861,335 (47%)$6,396
Average2,937 (95.89%)$23,734548 (18.00%)$4,4571,497 (48.67%)$6,998
*Grant or scholarship aid includes aid received, from the federal government, state or local government, the institution, and other sources known by the institution.
**percentage of number of students receiving aids among all undergraduate students.

Freshmen (First-time, Full-time Undergraduate) Financial Aid Over Time

For the last 10 years, on average, 773 (99.78 % of students) received grants or scholarships and its average amount is $25,554. It can cover 49.18% of tuition & fees ($51,960).

In addition, 422 (54.33 % of students) students get helped from the students loans (average amount : $9,021).

Year Grants or Scholarships*Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average Amount
2014-15863 (99%)$18,494476 (55%)$7,827
2015-16795 (99%)$19,737464 (58%)$7,880
2016-17762 (100%)$21,239429 (56%)$8,089
2017-18758 (100%)$24,115424 (56%)$8,516
2018-19749 (100%)$25,929414 (55%)$9,995
2019-20779 (100%)$27,511416 (53%)$10,142
2020-21737 (100%)$29,904379 (51%)$10,212
2021-22785 (100%)$31,274412 (52%)$8,953
2022-23728 (100%)$31,783388 (53%)$9,575
Average773 (99.78%)$25,554422 (54.33%)$9,021
*Grant or scholarship aid includes aid received, from the federal government, state or local government, the institution, and other sources known by the institution.
**percentage of number of students receiving aids among all undergraduate students.

The following table shows the trends of grants or scholarships over time. For the last 10 years, on average, 153 (19.89 % of students) received Pell (federal) grants and its average amount is $4,392.

In addition, 101 students received State/local government grants/scholarships (13.11 % of students).

Year Federal (Pell) GrantsOther Federal State/Local governmentInstitutional
Number Received (percent)Average AmountNumber Received (percent)Average Amount Number Received (percent)Average AmountNumber Received (percent)Average Amount
2014-15146 (17%)$4,027148 (17%)$1,77081 (9%)$5,188863 (99%)$17,022
2015-16133 (17%)$3,841132 (16%)$1,25589 (11%)$5,237795 (99%)$18,299
2016-17128 (17%)$3,979129 (17%)$1,31577 (10%)$5,762762 (100%)$19,765
2017-18140 (18%)$4,236140 (18%)$1,27789 (12%)$5,623758 (100%)$22,437
2018-19159 (21%)$4,239159 (21%)$1,166114 (15%)$5,773749 (100%)$23,903
2019-20171 (22%)$4,485169 (22%)$1,217106 (14%)$5,828778 (100%)$25,502
2020-21145 (20%)$4,792149 (20%)$3,375122 (17%)$5,608737 (100%)$27,350
2021-22172 (22%)$4,841404 (51%)$2,237113 (14%)$6,640785 (100%)$28,106
2022-23184 (25%)$5,088189 (26%)$2,342118 (16%)$7,537728 (100%)$28,667
Average153 (19.89%)$4,392180 (23.11%)$1,773101 (13.11%)$5,911773 (99.78%)$23,450
*Grant or scholarship aid includes aid received, from the federal government, state or local government, the institution, and other sources known by the institution.
**percentage of number of students receiving aids among all undergraduate students.

The following table describes number of students and average amount of loans by loan type. The following table shows the trends of grants or scholarships over time.

For the last 10 years, on average, 422 (54.33 % of students) get any students loan help and its average loan amount is $422.

YearTotalFederal student loansOther student loans
Number Received (percent)Average AmountNumber Received (percent)Average AmountNumber Received (percent)Average Amount
2014-15476 (55%)$7,827469 (54%)$5,45790 (10%)$12,959
2015-16464 (58%)$7,880459 (57%)$5,30078 (10%)$15,690
2016-17429 (56%)$8,089424 (55%)$5,33578 (10%)$15,489
2017-18424 (56%)$8,516419 (55%)$5,44482 (11%)$16,219
2018-19414 (55%)$9,995408 (54%)$5,343115 (15%)$17,024
2019-20416 (53%)$10,142407 (52%)$5,226121 (16%)$17,290
2020-21379 (51%)$10,212356 (48%)$5,294110 (15%)$18,053
2021-22412 (52%)$8,953407 (52%)$5,30990 (11%)$16,978
2022-23388 (53%)$9,575379 (52%)$5,43391 (12%)$18,200
Average422 (54.33%)$9,021414 (53.22%)$5,34995 (12.22%)$16,434

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