Financial Aid Programs

Federal Pell Grants

Federal Pell Grants are federal funds, available to undergraduate students who have not earned a Bachelor’s or professional degree. These funds do not have to be repaid, unless the student withdraws or drops out of school. The amount will vary each term based on the student’s enrollment status (full-time, three-quarter time, half time or less than half time). Any Pell funds not used in the fall and spring terms will be carried over into the summer term. Students must reapply for Federal Pell Grants each academic year.   

Federal Supplemental Educational Opportunity Grant - SEOG

This grant is awarded to Pell Grant students with the lowest Expected Family Contribution (EFC) and does not have to be repaid, unless the student withdraws or drops out of college. Federal funds are allotted to the College to award to students with exceptional financial need. The funds are awarded on a first come, first served basis. If the student fails to attend classes and the award drops off his/her account, the grant will be redistributed to other eligible students.   

Federal Work-Study - FWS

This is a program that allows students to earn funds for their education. The current pay for federal work study positions is published on the Drake State website (pay rates are subject to change) and is limited to a maximum of 19 hours per week. All eligible students indicating an interest in FWS will be considered for these limited funds by completing a work-study application located in the Financial Aid Office. Most job placements are on campus and work hours are usually after classes each day. Hiring is competitive and all interested students may not be able to be accommodated.   

Other Types of Assistance

Institutional Scholarships are awarded on a competitive basis to applicants. Most scholarships are used to recruit students from local high schools but are available to returning students. The two types of institutional scholarships awarded by the College are academic and leadership. The Priority  Deadline is March 15th of each year. Scholarships will be awarded annually and placed on student accounts beginning the fall semester. 

Academic scholarship recipients must have and maintain a 3.0 or better GPA on a 4.0 scale and maintain a full-time enrollment status. These scholarships cover the cost of tuition and mandatory fees and are renewed each enrollment status, whether the student is enrolled in a certificate or associate degree program. Scholarship recipients are required to sign a contract outlining the requirements for maintaining eligibility.

Leadership scholarship recipients must have and maintain a 2.5 or better GPA on a 4.0 scale and maintain a full-time enrollment status. These scholarships cover 50% of tuition and mandatory fees and renewed each enrollment status, whether the student is enrolled in a certificate or associate degree program. Scholarship recipients are required to sign a contract outlining the requirements for maintaining eligibility.