Navigating Drexel University Merit Scholarships: A Comprehensive Guide

Planning for college expenses is a crucial part of the application process. Drexel University, like many institutions, offers a range of financial aid options to help students manage the cost of attendance. Understanding these options, especially merit-based scholarships, is essential for prospective students. This article aims to provide a detailed overview of Drexel University's merit scholarship requirements, eligibility criteria, and related financial aid information.

Understanding the Cost of Attendance

The first step in managing college costs is understanding what a school costs. The "Cost of Attendance" (COA) is the total amount of money the average student has to pay, without any financial aid, to attend a particular school. Think of it as a school’s sticker price, encompassing tuition, room and board, books, and other fees.

Financial Aid at Drexel University: An Overview

Drexel University provides financial aid to a significant portion of its students, indicating a commitment to making education accessible. Financial aid packages often include a combination of grants, scholarships, loans, and work-study opportunities. Grants and scholarships are particularly valuable because they do not require repayment, making them a more attractive option than loans.

Grants and Scholarships: The Preferred Aid

Grants and scholarships are crucial forms of financial aid because students don’t ever have to pay them back. At Drexel University, a substantial number of students receive grant aid, and the award sizes are notable. This suggests that Drexel University offers relatively competitive financial aid. The grant dollar amounts include aid from all sources, both federal and institutional.

Institutional Aid: Drexel's Own Financial Aid Program

To understand the strength of Drexel University’s financial aid program, it's essential to look at how they award their own (non-federal) financial aid dollars. Drexel University appears to offer more institutional aid than other schools. This could mean that Drexel University offers relatively competitive financial aid.

Student Loans: Minimizing Debt

Aside from grants, the other major way to pay for college is with student loans. The more student loan money you borrow, the more debt you’ll end up with after graduation. Minimizing student debt is an ideal goal.

Federal Loans

Federal loans tend to have low interest rates, which means they cost less in the long run. At Drexel University, 53% of all students take out federal loans, with the average annual federal loan amount being $5385.

Private Loans

Other loans, or private loans, are the last resource students turn to when paying for college. At Drexel University, 14% of students take out private loans, and the average private loan amount is $23429. The percentage of students getting federal loans is greater than those getting private loans, which is a good sign.

Net Price: What You'll Actually Pay

The Net Price is the total cost minus the total aid given. In other words, this is the price you have to pay to the school out of pocket. To get an idea of your annual Net Price at Drexel University, there are tools like the Net Price Calculator available on most school websites.

Expected Family Contribution (EFC)

The US government has come up with a standardized way to calculate how much a typical family can afford to pay without help, known as the Expected Family Contribution (EFC). Colleges use this number as a guideline to decide how much aid to give you, but it's just a guideline. If the Net Price is higher than the EFC, the school will cost more than you can typically afford.

Drexel University's Value and Ranking

Drexel University generally ranks between #100 and 200 on college ranking lists, putting it roughly in the top 20% of schools. However, it doesn't often appear on value rankings lists, which means that, compared to other schools of similar reputation, Drexel University has a higher net price and may offer less competitive financial aid. Overall, Drexel University is still considered a good value school that is worth the cost.

Exploring Drexel University Merit Scholarships

Drexel University offers several institutional merit scholarships to incoming first-year and transfer students, awarded by the Admissions Committee based upon superior academic performance. Decisions regarding eligibility are made by the Admissions Committee. These scholarships are highly competitive and available to both domestic and international students.

Eligibility and Qualifications

To qualify for Drexel's merit scholarships, a strong academic record is key. Drexel looks at applicants' cumulative high school GPA and standardized test scores (if provided). The exact GPA or test score needed can vary from year to year depending on the applicant pool but aiming towards the upper end of Drexel's average admitted student profile may help your chances. For the 2024-2025 application cycle, Drexel is test-optional, however, students who've taken the SAT or ACT are certainly welcome to submit their scores.

What to Emphasize in Your Application

Demonstrating a high level of engagement and leadership in your extracurricular activities can be beneficial. Drexel is looking for students who will contribute to their community and beyond. Hence, illustrating your dedicated involvement in clubs, sports, community service, or other organizations can help distinguish your application.

Application Process and Deadlines

Drexel’s merit scholarships are awarded at the time of admission; there is no separate application. Just make sure to submit your admissions application by the appropriate deadline for each admission plan. Early action and early decision generally provide the highest chances for merit aid packages, although merit scholarships are available for regular decision applicants as well.

Read also: Exploring Drexel's Campus

Scholarship Details and Renewal

Most scholarships are awarded when students begin full-time enrollment as a Drexel student. They are applied to all class terms as long as the student maintains full-time status and continues to achieve a 2.0 cumulative GPA each academic year (unless otherwise noted). A student's total financial aid package cannot exceed the University's cost of attendance. Awards that make-up a financial aid package include grants, scholarships, loans, work-study, and scholarships from private organizations.

Specific Merit Scholarships at Drexel University

Drexel University offers a variety of merit-based scholarships, each with its specific criteria and benefits. Here are a few notable examples:

The Westphal Portfolio Scholarship: Awarded to incoming first-year and transfer students based on outstanding creative work in the art portfolio they submitted for review with their admissions application.
Drexel Alumni Association Scholarship: Offered to first-year or transfer students who receive an endorsement from a Drexel University alum. This award of $500 a term is applicable toward tuition.
Athletic Scholarships: Drexel University provides scholarships for students participating in official University athletic programs.
The Liberty Scholars Program: Provides recent Philadelphia high school graduates with a renewable scholarship award that covers 100 percent of tuition and general University fees.
Performing Arts Scholarships: Students participating in a performing art at Drexel may be eligible for a tuition-only award of up to $2,000. In order to receive this award, students must audition for a Drexel ensemble.
ROTC Scholarships: Army ROTC (hosted at Drexel) offers tuition and fees scholarship opportunities to Cadets. Navy ROTC (hosted at University of Pennsylvania, but available to Drexel students) offers scholarship opportunities.
The Tuition Exchange Program (TEP): Partners Drexel with other colleges and universities to offer scholarships.
External Scholarships: Because they are private and therefore not administered by Drexel, it is up to students to research and apply for them on their own.

Additional Scholarship Resources

Drexel University provides information about external scholarships and awards to help its students pursue their educational opportunities. Drexel University is not affiliated with these scholarships and awards. Created by Drexel University students, Scholly is a mobile app for Apple and Android mobile devices that gives students a fast and simple way to find scholarships for college.

AMBI® Scholarship in Science & Medicine: Open to African-American and Hispanic women, ages 21 or older, who are residents of the United States including the District of Columbia and Puerto Rico.
AmeriCorps: Each year, AmeriCorps offers 75,000 opportunities for adults of all ages and backgrounds to serve through a network of partnerships with local and national nonprofit groups.
Health Research and Educational Trust of New Jersey (HRET) Scholarship Fund: To assist in meeting this need. This provides financial aid covering tuition, required fees and other educational and living expenses for qualified American Indian and Alaska Native students (members of federally recognized Tribes only) applying to, accepted by or enrolled in health professions programs.
Indian Health Service Loan Repayment Program (IHS LRP): The IHS LRP was created to provide health professionals like you the financial freedom to fulfill your career goals. Students incur service obligations and payback requirements on acceptance of their scholarship award.
Nancy Etz Academic Scholarship: The Nancy Etz Academic Scholarship was created to recognize an outstanding student and provide them the resources needed to advance in their disciplines and eventually pursue their dream careers. The scholarship award is $1,000.
HSF/ General College Scholarships: HSF/ General College Scholarships are designed to assist students of Hispanic heritage obtain a college degree.
TYLENOL® Scholarship: For 23 years, the makers of TYLENOL® have awarded more than $8.9 million in scholarships to students pursuing an education in healthcare.

Impact of Outside Funding

Any outside funding received must be taken into account when eligibility is determined for need-based financial aid. If offered funding from a source outside the University, students must submit copies of the notification letter to Drexel Central. Outside funding may result in a change to the student's eligibility for the overall student aid package.

Understanding Financial Aid Packages

When logging in for the first time, you will be presented with a General Application. Upon completion of the General Application, you may be directed to complete a Conditional Application with college-specific questions. After applications have been completed, you can check the status on your dashboard. In most cases, the named scholarship will either reduce or replace your Drexel Grant. Need-based scholarships require domestic students to complete a FAFSA. After you complete the General Application, you will be asked to complete a Conditional Application. If you are awarded a named scholarship, you will be notified with a revised award notice. Disbursement of awards may vary based on your quarter/semester(s) of enrollment.

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