Drexel University: Financial Aid For International Students?

Drexel University offers financial aid to international students in the form of scholarships, grants, and loans. International applicants are automatically considered for merit scholarships when they submit their admission application, and they are encouraged to complete the CSS Profile to be considered for need-based grants. Drexel also offers quarterly payment plans to help families manage the cost of attendance. Additionally, international students can explore external resources for financial aid, such as the International Education Financial Aid website and International Student Loan.com.

Drexel University's financial aid for international students

Drexel University offers financial aid to international students in the form of scholarships, grants, and loans. While international students are not eligible for federal financial aid from the U.S. Department of Education, they can still access other sources of funding to help finance their education.

Scholarships and Grants:

International applicants are automatically considered for merit-based scholarships when they submit their admission application. Additionally, they can complete the CSS Profile to be considered for need-based grants. The CSS Profile provides Drexel with an overview of an applicant's family finances to determine eligibility for need-based grant funding.

Loans:

International students can also explore loan options through organisations like International Student Loan.com, which provides access to loans for international students studying in the United States. However, international students usually need a U.S. citizen cosigner when applying for these loans.

Work Opportunities:

Drexel University also offers work opportunities for students, such as the Federal Work-Study program, which allows students to earn money while working part-time. Eligibility for this program is based on financial need, and students must complete a Free Application for Federal Student Aid (FAFSA).

Payment Plans:

Drexel offers quarterly payment plans, allowing families to spread the balance due for a particular quarter into monthly installments, making it easier to manage the cost of attendance.

Outside Resources:

Outside of Drexel University, there are other resources that international students can explore for financial aid, such as the Funding for U.S. Study database, which includes scholarships, fellowships, and grants for all levels of postsecondary study. Additionally, the International Education Financial Aid website provides information on financial aid for students wishing to study abroad.

Student Experience:

One international student at Drexel University received around 60% coverage of their tuition fees, amounting to approximately $170,000 in financial aid over four years. This coverage was a combination of need-based and merit-based aid.

CSS profile and other applications

Drexel University offers financial aid to international students, and the first step to being considered for financial aid is to submit the CSS Profile. The CSS Profile is an electronic application provided by the College Board that Drexel uses to determine eligibility for Drexel need-based grant funding. It gives Drexel an overview of your family's finances. Both domestic and international first-year students and full-time on-campus international transfer applicants are required to complete the CSS Profile to be reviewed for institutional grant funding. The CSS Profile is available each year on October 1 on the College Board website. There is a fee required to complete the form, but the College Board will automatically waive the fee for students who meet their income requirements.

The CSS Profile is not the only application international students need to submit to be considered for financial aid. International applicants are also required to submit the International Student Financial Aid Application (ISFAA) to be considered for institutional need-based aid. Additionally, U.S. citizens and permanent residents are required to submit the Free Application for Federal Student Aid (FAFSA) to be considered for the most financial aid.

The CSS Profile and other applications are critical components of the financial aid application process at Drexel University. By submitting these forms, students can increase their chances of receiving financial support for their education. It is important to note that meeting eligibility requirements and submitting the necessary applications does not guarantee financial aid. However, it is a crucial step in the process, and students are encouraged to complete these applications as early as possible.

Scholarships and grants

Drexel University offers a range of scholarships and grants to its students. Once an admission application is received, applicants are automatically considered for Drexel merit scholarships. However, there are also Drexel and private scholarship opportunities that may require additional steps.

Drexel merit scholarships are typically based on merit or association with certain organizations. The average scholarship and grant aid offered to first-year students was $35,631, and the average offered to fall transfer students was $29,793. These amounts include federal, state, and institutional aid.

The university also offers the Fostering Independence Tuition Waiver Program, which provides eligible foster youth with a tuition waiver for up to five academic years or until they reach the age of 26. Additionally, The Drexel Promise provides students who have earned an associate degree at an accredited community college in Pennsylvania or New Jersey with a renewable scholarship for 50% of the tuition cost as they pursue their bachelor's degree.

For international students, they are automatically considered for merit scholarships when they complete their admission application. They are also encouraged to complete the CSS Profile to be considered for need-based grants. The CSS Profile provides Drexel with an overview of the applicant's family finances. International applicants should also review Financing Options for International Students to explore other private financial resources.

It is important to note that international students studying in the United States are generally not eligible for federal financial aid from the U.S. Department of Education. As such, additional sources of funding should be researched. Resources such as EduPASS! The SmartStudent Guide to Studying in the USA and Funding for U.S. Study, a database of scholarships, fellowships, and grants, can be helpful in identifying alternative funding opportunities.

Drexel's Fostering Independence Tuition Waiver Program

Drexel University offers financial aid to international students. International applicants are automatically considered for merit scholarships when they complete their admission application, and they are encouraged to complete the CSS Profile to be considered for need-based grants.

Drexels Fostering Independence Tuition Waiver Program

The Fostering Independence Tuition Waiver Program allows eligible students who have been served by the foster care system to receive a university education, build a network of support, and graduate with minimal debt. The program is a collaboration with the Pennsylvania Higher Education Assistance Agency (PHEAA) and the Pennsylvania departments of Education (PDE), Human Services (DHS), and Labor & Industry (L&I). It provides tuition waivers at postsecondary institutions, including Drexel University, for up to five academic years or until the recipient turns 26.

To be eligible for the tuition waiver, students must:

• Be a Pennsylvania resident
• Be under the age of 26
• Have received a high school diploma or equivalent approved credential
• Be eligible for services under Pennsylvania's John H. Chafee Foster Care Program for Successful Transition to Adulthood
• Be identified as a youth in foster care or a youth discharged or adopted from foster care at age 16 or older
• Have exited foster care on or after age 16 to adoption or permanent legal custodianship
• Be enrolled as an undergraduate, at least half-time in a postsecondary institution approved by the U.S. Department of Education for Title IV student assistance programs
• Demonstrate financial need for the PA Chafee Education and Training Grant (as determined by the postsecondary institution)
• Maintain satisfactory academic progress (as determined by the postsecondary institution)
• Not be in default on a federal student loan
• File a Free Application for Federal Student Aid (FAFSA)

International student loans

Drexel University does offer financial aid to international students. The university recommends that prospective students take all the necessary steps to ensure they are considered for as much financial aid as possible. This includes submitting the CSS Profile, which is required for international transfer applicants to be considered for Drexel need-based grant funding. The CSS Profile gives Drexel an overview of a student's family finances.

International students at Drexel can also apply for scholarships, and they are automatically considered for Drexel merit scholarships. Additionally, there are Drexel and private scholarship opportunities that may require additional steps.

International students can also consider taking out international student loans to help fund their education. These loans can cover various costs, such as tuition, room and board, books, travel, health insurance, and living expenses. Most loans for non-US citizens will require a US co-signer with good credit who has lived in the US for the past two years. However, some lenders, such as Ascent, offer no-cosigner loans for international students enrolled at select schools in the US and Canada who meet the lender's criteria.

• Loan Requirements: To be eligible for an international student loan, you must not be a US citizen or permanent resident and must have an eligible resident status. Most lenders will also require a creditworthy cosigner who is a US citizen or permanent resident and meets certain income requirements.
• Interest Rates: Interest rates for international student loans can be either fixed or variable. Fixed rates stay the same throughout the life of the loan, while variable rates can change from year to year. It's important to compare the rates offered by different lenders.
• Repayment Requirements: Some lenders may require repayment of interest or full payment each month while the student is still in school, while others allow borrowers to defer all payments until after graduation. It's essential to understand the repayment requirements before taking out a loan.
• Term Length: Lenders may offer different term lengths, such as 5, 7, 10, 12, or 15 years. It's important to compare the monthly costs and total costs over the life of the loan to determine which option is most affordable.
• Hardship Options: Some lenders offer programs such as forbearance, which allows borrowers to pause payments if they experience financial difficulties or become unemployed. It's worth inquiring about these options before choosing a lender.
• Discounts: Some lenders offer interest rate discounts for borrowers who enroll in automatic payments or make a certain number of consecutive on-time payments. These discounts can help reduce the overall cost of the loan.
• Co-signer Release: While unusual for international student loans, some lenders may offer the opportunity to release the co-signer from their obligation once certain conditions are met. This can be an important consideration if the co-signer wants to be released from the loan at some point.

Frequently asked questions