So I was accepted to Drexel with an estimated total cost of 65k and scholarships and grants of about 50k.
18k Founder Scholarship
19k Drexel Grant
12k Federal grants and work study
My first question would be if I will continually receive Drexel scholarships of the same amount during my 5 years there. A worry of mine is that the scholarships will end, leaving me with too much to pay for.
Secondly, I have a question about the semesters Drexel. Since the semesters are based off of seasons does that mean that the semesters are shorter than other schools? How is the tuition calculated with shorter semesters plus co-ops? My understanding is that the tuition per year will be divided by 3, 1 for each semester.
Based on my calculations, (don’t know if they are correct) my total cost for Drexel for 5 years would be 60k. Based on the loans they give me, about 35k will be in loans and 25k out of pocket over the course of 5 years. Is this worth considering, or is it too much?
Thank you in advance to anyone who answers my questions.
This is a lot to tackle, but I hope I can help a little. I am a current Drexel sophomore, and I am on co-op this term. Your financial aid is most likely set, and will not change, unless it exceeds your cost of attendance. At that point, Drexel will see that you don’t need all the aid, and they will keep the excess.
Drexel is a quarter system school, our quarters are based on the seasons, and they are 10 weeks long, with another week for finals. You get a week off for break in Spring, Summer, and Fall, and Winter break is about 3 weeks. Tuition and room & board are billed per quarter/term. So to estimate, yes, you can divide your aid by 3.
You pay NO tuition on co-op, only for housing & university fees. But you will most likely be paid enough while working on co-op that you can cover those costs. Drexel can get expensive, based on a variety of factors, but I would weigh the benefits against the cost. For most people, the co-op program and other opportunities offered by the university are enough of a draw that they accept the higher cost. Hope this helps
My D is also a sophomore on her first co-op. To add to what @ProjectGenesis6 said… you do pay a fee on co-op, $790 for each term. Your co-op earnings will have to be reported on taxes & FAFSA, so that MAY change your grants ( and amount of loans). Your scholarship will stay the same as long as you maintain the minimum gpa ( check your scholarship requirements).
