Applying for Financial Aid

STEP ONE

Apply for admission as early as you can. Drake can make a financial aid award only after you are admitted to the University. If you plan to apply for need-based aid, check the appropriate box on your application for admission. Students must re-apply for need-based aid each year.

STEP TWO

Complete the Free Application for Federal Student Aid (FAFSA) and list Drake University, Des Moines, Iowa (Federal School code: 001860), on the form. You must file the FAFSA to be eligible for Drake, federal, or state scholarships, grants, loans and/or employment.

The easiest way to complete your FAFSA is to apply online. To complete the entire application process electronically, you and at lease one of the parents included in your family filing the FAFSA need a personal identification number (PIN). You can apply for your PINs (student and parent) at any time from the FAFSA Web site. You do not need to wait until you file your FAFSA to get a pin.

To receive priority consideration for financial aid, be sure and file your FAFSA by March 1. If necessary, use estimate tax information to meet this deadline; you can always update your information after you have completed your federal tax returns. Please be sure to print out a copy of your online application for your records.

Be certain to read each FAFSA question carefully and thoroughly review all instructions. Remember that about one third of FAFSA filers are selected for verification by the federal processing center. The federal verification process requires Drake to collect copies of federal income tax forms and verification worksheets from each family selected for verification. Your financial aid awards cannot be finalized until all verification materials have been received and reviewed. Do not send these forms unless they are requested by Drake.

The Office of Student Financial Planning begins sending award notices around March 1 each year. Applications are reviewed in date order according to the date your FAFSA information was received at the federal processors. Your award notice will summarize your eligibility for Drake, federal, state and private scholarships, grants, work and loan programs. You need to decide whether you will accept or decline the awards per the instructions included with your award notice.

Note: The earliest you may submit a FAFSA on the Web or mail a paper version for the 2007-2008 school year is January 1, 2007. You may apply for a PIN at any time.