Drake University
Office of Student Financial Planning
2016–2017 Undergraduate Cost Estimate Worksheet
Your financial aid awards may be used to pay for both costs billed directly by Drake (direct costs) AND costs not billed by Drake
(indirect costs). Direct costs include items such as tuition, fees, room, and board, and indirect costs include items such as books,
supplies, and personal items. See the reverse side of this form for examples of how to use this worksheet. The costs listed below
are based upon full-time enrollment in both fall and spring terms. Visit www.drake.edu/accounts for the most current information
regarding tuition and fee charges.
MY COSTS
DRAKE DIRECT COSTS
(include only
those that apply)
Tuition (full–time; 12–18 credits per semester)
Undergraduate
$35,060
$
Pharmacy (P1–P2)­
$38,244
$
$146
$
$5,300
$
$4,550
$
Fees (full–time)
Activity Fee
Room (on campus)
Double/Triple/Quad
Meal Plans
All On-campus Options
$
Total DIRECT COSTS
PLEASE REFER TO YOUR AWARD LETTER WHEN COMPLETING THE SECTION BELOW
Total Scholarships and Grants
See award letter.
$
Federal Direct Subsidized Stafford Loan
This loan has origination fees.
For estimated amounts, take
Amount Borrowed x 99% =
$
Federal Direct Unsubsidized Stafford Loan
This loan has origination fees.
For estimated amounts, take
Amount Borrowed x 99% =
$
Federal Perkins or Health Professions Loan
No origination fees
Federal Direct Parent PLUS Loan*
This loan has origination fees.
For estimated amounts, take
Amount Borrowed x 96% =
Other Possible Resources
Outside scholarships, savings,
earnings, private education loans* etc.
Drake Payment Plan can be used to pay this balance
$
Total DIRECT COSTS –
$
Total FINANCIAL AID =
*Parent PLUS Loans and Private Education Loans are credit-based and not guaranteed loans.
NOTES
$
$
Total FINANCIAL AID
Estimated Remaining Balance
$
EXAMPLES: Living on campus
Tuition
Fees
Tuition
$35,060
$35,060
$146
Fees
$146
Room
$5,300
Room
$5,300
Meal Plan
$4,550
Meal Plan
$4,550
$45,056
Total Direct Costs
Total Scholarships and Grants
$45,056
Total Direct Costs
Total Scholarships and Grants
$16,500
$16,500
Outside Scholarships
$2,500
Federal Direct Subsidized Stafford Loan*
$5,445
Federal Direct Subsidized Stafford Loan*
$5,445
Federal Direct Unsubsidized Stafford Loan*
$1,980
Federal Direct Unsubsidized Stafford Loan*
$1,980
Federal Direct Parent PLUS Loan*
$26,425
Total Financial Aid
Estimated Remaining Balance
$18,631
Estimated 8 Monthly Payments
$2,329
$14,450
$38,375
Total Financial Aid
$6,681
Estimated Remaining Balance
EXAMPLES: Living off campus
Tuition
Fees
$35,060
$146
$35,060
$146
Fees
$35,206
Total Direct Costs
Total Scholarships and Grants
Tuition
Total Scholarships and Grants
$16,500
$35,206
Total Direct Costs
$16,500
Outside Scholarships
$2,500
Federal Direct Subsidized Stafford Loan*
$5,445
Federal Direct Subsidized Stafford Loan*
$5,445
Federal Direct Unsubsidized Stafford Loan*
$1,980
Federal Direct Unsubsidized Stafford Loan*
$1,980
Federal Direct Parent PLUS Loan*
$5,450
Federal Direct Parent PLUS Loan*
$15,500
Total Financial Aid
$41,925
Estimated Refund
$6,719
$29,375
Total Financial Aid
$5,831
Estimated Remaining Balance
* Stafford and PLUS Loans have fees deducted from the borrowed amount. The amount shown is the net amount to be received.
IMPORTANT TIPS TO REMEMBER
• Students should plan to bring funds (cash, check, or credit card) to buy books and supplies for the start of the term (approximately
$550 per semester), as any financial aid in excess of the costs on the student’s account will not be released until after the term begins.
Drake University does not own a book store.
• Students should notify the Office of Student Financial Planning of any outside scholarships they expect to receive. Outside scholarships
are applied in total to the semester in which the funds are received, and account credit is entered only when the outside scholarship
check has been received by Drake.
• Federal work-study earnings DO NOT show as a credit on the student account since those earnings are paid each month DIRECTLY
to the student for hours worked in the previous month. The Federal Work Study award reflects an estimate of earnings for the academic
year for a student working approximately 10 hours per week, and is not a guarantee of employment.
• In order to ensure timely processing, students should return the Federal Direct Stafford Loan Request Form to the Office of Student
Financial Planning as soon as possible. Application instructions for the online Federal Direct PLUS Loan are included in the award
packet. The Federal Direct PLUS Loan and student private education loan require a credit review by the lender; most private education
loans require the student to secure a cosigner. If these loans are needed to pay school expenses, we recommend you apply as soon as
possible to ensure you are eligible. The amounts listed in your award letter reflect the maximum amount you may request to borrow
from all programs combined.
• The Drake University Office of Student Accounts offers tuition/fee payment plans. Visit www.drake.edu/accounts/paymentoptions for more
detailed information on these plans.
Office of Student Financial Planning 2507 University Avenue, Des Moines, IA 50311-4505
t 515-271-2905 or 1-800-44-drake (37253), x2905 f 515-271-4042
feb. 2016 15-16.7725d