1.  [College research](/)
2.  /
3.  [Drake University](/school/drake-university/)
4.  /
5.  Cost & financial aid brief

Cost & financial aid brief

Copy linkPrint brief

# Drake University Tuition, Costs & Financial Aid

Updated October 1, 2026

[Overview](/school/drake-university/)Cost & aid[Outcomes](/school/drake-university/outcomes/)[Admissions](/school/drake-university/admissions/)[Majors](/school/drake-university/majors/)[Similar schools](/school/drake-university/similar/)

**On this page**+

## How much does Drake University cost after financial aid?

Attending Drake University carries a published sticker price of $64,835, which includes $52,130 in tuition and fees and $12,452 for room and board. After grants and scholarships, the average [net price](/analysis/is-college-worth-it-part-1-the-net-price-illusion/) for aid recipients—what students actually pay after grants and scholarships—is $29,127, a reduction of $35,708 from the full published cost.

Among comparable institutions (same type and size), the peer median net price is $27,371; the average here is $1,756 above that mark. Azimuth places the university at #1,101 in its affordability ranking among nonprofit four-year institutions. That standing places the affordability pillar in the 22nd percentile.

Affordability is a challenge at Drake University: the pillar sits in the 22nd percentile among nonprofit four-year institutions. Aid recipients pay an average [net price](/analysis/is-college-worth-it-part-1-the-net-price-illusion/)—what they owe after grants and scholarships—of $29,127, which is above the median for comparable institutions (same type and size) by $1,756.

Completers who borrow leave with median federal student debt of $23,000, below the peer median of $24,199 by $1,199. Average net prices run from $25,824 in the lowest income band to $33,126 in the highest, a spread of $7,302.

The lowest band sits below the peer median, while the highest band and the upper-middle band exceed it, so the net price picture is mixed across the income scale.

Average [net price](/analysis/is-college-worth-it-part-1-the-net-price-illusion/)s by family-income band show a relatively flat structure. For families earning under $30,000 the average net price is $25,824; for $30,001–$48,000 it is $23,275; for $48,001–$75,000 it is $25,171; for $75,001–$110,000 it is $27,408; and for families earning over $110,000 it is $33,126.

Pell Grant recipients make up 21.7% of undergraduates, providing context for the lowest band. The spread between the lowest and highest bands is $7,302, a narrow gap that suggests aid is distributed broadly rather than concentrated on the lowest-income families.

Average net price by family income

**$0–30K**
$25,824

**$30–48K**
$23,275

**$48–75K**
$25,171

**$75–110K**
$27,408

**$110K+**
$33,126

Averages within each income band; individual aid packages vary.

Overall average annual net price: **$29,127**. After grants and scholarships, including living costs. [Source and coverage](#cost-data-notes).

Aid covers about 55% of the published cost for the average aid recipient, a reduction of $35,708 against the sticker price. The lowest income band, under $30,000, averages $25,824.

The $30,001–$48,000 band averages $23,275, which is the lowest average [net price](/analysis/is-college-worth-it-part-1-the-net-price-illusion/) of the five. The middle band sits at $25,171, the upper-middle at $27,408, and families earning over $110,000 average $33,126.

The spread between the lowest and highest bands is $7,302. That is a difference of averages, not what any family pays, and the middle bands sit closer to the bottom than the top.

The published cost of attendance is $64,835. Azimuth ranks Drake University #1,101 for affordability among nonprofit four-year institutions.

The average [net price](/analysis/is-college-worth-it-part-1-the-net-price-illusion/), what aid recipients pay after grants and scholarships, is $25,824 in the lowest family-income band, $23,275 in the lower-middle band, $25,171 in the middle band, $27,408 in the upper-middle band, and $33,126 in the highest band. The spread between the lowest and highest bands is $7,302.

Aid covers about 55% of the published cost for the average aid recipient. The average net price across all aid recipients is $29,127, which is $1,756 above the $27,371 median for comparable institutions (same type and size).

Borrowers who finish carry a median of $23,000 in federal student loans, $1,199 below the peer median of $24,199. The share of undergraduates borrowing federal loans is 93.6%.

Parents who borrow through [Parent PLUS](/analysis/ou-what-happens-when-parents-borrow-too/) hold a separate median of $26,000. If repaid over ten years, the median federal student debt corresponds to an estimated payment of $261 a month.

## Student loans: what does repayment look like?

Borrowing is widespread at Drake, with 93.6% of federal aid recipients taking federal loans. Among those who complete, the median federal student debt is $23,000.

That median sits $1,199 below the $24,199 median for comparable institutions (same type and size). Parents who borrow hold a separate median of $26,000 in [Parent PLUS](/analysis/ou-what-happens-when-parents-borrow-too/) loans.

At Drake University, the investment picture is mixed. Graduates earn a median of $65,232 four years after completion, a figure that sits at the 66th percentile among nonprofit four-year institutions.

However, they earn about $7,139 less than the model expects for similar students, an outcome that falls to the 28th percentile. Earnings scenarios, estimated from the university's program mix, range from $48,617 in a downside case to $87,532 in an upside case, with $65,232 as the typical outcome.

On the borrowing side, the median federal student debt at completion is $23,000, which is $1,199 below the $24,199 median for comparable institutions. If repaid over ten years, that debt corresponds to an estimated payment of $261 a month.

Median [Parent PLUS](/analysis/ou-what-happens-when-parents-borrow-too/) borrowing, a separate parent-borrower population, is $26,000. The estimated monthly student payment if repaid over ten years is $261.

[Repayment figures](#combined-borrowing) are in the Financial GPS card below. [Borrowing populations and model assumptions](#cost-data-notes).

## Parent loans: what can the family afford?

[How Parent PLUS borrowing affects families](/analysis/ou-what-happens-when-parents-borrow-too/)

**Median Parent PLUS debt**
$26,000

**Estimated parent payment**
$330/mo

Modeled Parent PLUS pressure by income

| Income | Risk level |
| --- | --- |
| $35,000 | High pressure |
| $50,000 | High pressure |
| $75,000 | High pressure |
| $100,000 | Caution |
| $150,000 | Safe |
| $200,000 | Safe |

The model holds the parent balance fixed and varies parent income. [Read the assumptions and limits](#cost-data-notes).

## Student and parent loans: the monthly payments

Financial GPS

### What does repayment look like?

**Institution median student debt**
$23,000

**Institution Parent PLUS debt**
$26,000

Federal loans only; private or institutional loans aren’t included.

**Estimated student payment · monthly**
$261/mo

**Estimated Parent PLUS payment · monthly**
$330/mo

**Modeled student + parent payments**
$591/mo

Payments use school-wide median balances, not a specific major’s.

#### Student payment as a share of available income

At median graduate earnings of $65,232, with a $22,590 annual allowance for basic expenses:

**7.3%** of income above the allowance · Excellent

1.  Excellent Under 8% · selected scenario
2.  Good 8–under 12%
3.  Concerning 12–20%
4.  High risk Over 20%

How this estimate works

These are modeled earnings scenarios, not observed earnings percentiles. Annual student payments ÷ (earnings − basic-expense allowance). The starting allowance, $22,590, uses the published framework’s 2024 baseline; it is not a current local living-cost estimate. Change it for your budget, including taxes and other obligations. This combines school-level figures for illustration, not a typical individual’s budget or an official school rating. Parent PLUS is separate.

[Read the framework and its limits](/analysis/financial-gps-framework/).

Payment assumptions

Payments are 10-year standard payments on the median balance, before loan fees, used as a yardstick. Rates for newly issued loans may differ, and loans made after July 1, 2026 can repay over a longer term; existing loans keep their original fixed rates.

[Explore your own numbers in Financial GPS](/financial-gps/?tool=student&school=drake-university#student-tool)

## Data & methodology

Sources and reporting periods: [methodology](/methodology/).

Analysis and methodology by [Daniel Rogers](/about/#founder), founder of College Azimuth.

Explanatory text is AI-assisted drafting checked against those figures; it is not an additional data source.

Figure notes link to sources and limitations. [About College Azimuth](/about/).

**Net price and borrowing.** The 2023–24 income-band averages include living costs and cover eligible first-time, full-time aid recipients; public-school figures reflect in-state tuition. They are not individual aid offers. Peer matching supplies overall net prices, not matched income-band averages. [College Scorecard data and documentation](https://collegescorecard.ed.gov/data/).

A personal student-risk assessment also needs your major and borrowing plan; these school-level illustrations do not assign you a personal risk zone.

Payments are 10-year standard payments on the median balance, before loan fees, used as a yardstick. Rates for newly issued loans may differ, and loans made after July 1, 2026 can repay over a longer term; existing loans keep their original fixed rates. Private-loan figures from the Common Data Set are separate from these federal repayment illustrations.