Financial Aid Information
Financial Aid Counseling
Your financial concerns are very important to us. For dedicated personal assistance with your financial aid questions, please contact the school's financial aid representative Mary DeRivera:
Earle Mack School of Law
3320 Market Street, Room 451 (in suite 450)
Philadelphia, PA 19104
Phone: (215) 895-1044
Paying for Law School
Applying for Financial Aid
Law students are required to file the Free Application for Federal Student Aid (FAFSA) and Drexel University’s Institutional Financial Aid Application each year in order to be evaluated for federal aid eligibility. Students can file the FAFSA online at http://www.fafsa.ed.gov beginning January 1st. Remember to include Drexel's federal ID number (#003256) when filing the federal form. The Institutional Financial Aid Application can be found here. If additional documentation is needed, the student will be contacted directly by the Office of Financial Aid.
After filing the FAFSA, students will receive a copy of their Student Aid Report (SAR). Students should check the SAR for accuracy and make any necessary corrections. Corrections should be submitted as soon as possible.
Drexel will receive the information about three business days after a student has filed the FAFSA. The information in the FAFSA is used to determine a student's eligibility for federal financial aid funds. Continuing students will receive a financial aid package in the mail sometime in July. This package will include all federal funds that the student is eligible to receive as well as any scholarship awarded by the School of Law.
Loan funds are available to students whose need is not met by other sources. Students who file a FAFSA may be eligible for loans in the Federal Direct Loan program. These loans are awarded by the school.
A student may also apply for a Graduate Plus Loan at http://www.studentloans.gov. Some students may want to consider private student loans especially if they are unable to file a FAFSA. A good place to start the research on these loans is http://www.simpletuition.com/ . Both Graduate Plus loans and private education loans require a clean credit record. Any credit problems should be resolved by a student prior to the start of the academic year.
Funding for External Programs
Students who wish to pursue summer study abroad opportunities can use education loans to help with funding. Students should meet with the Financial Aid representative and provide documentation of the costs for the program. The documentation will be reviewed and the student's budget may then be increased to accommodate for additional borrowing.
Students may use their federal and private loan funds to fund visitorships to other colleges and universities. Funds will still disburse to Drexel, based on Drexel’s schedule of disbursements. Students may then use refunds from their aid to pay the host school’s tuition and fees.
Summer Work Study Program
Students interested in participating in the Law School’s Summer Work Study Program must fill out a Request For Work Study Form available in the Office of Student Affairs during February of each year. The student’s FAFSA and Institutional Financial Aid Application must be submitted to the Office of Financial Aid by March 1st and will be reviewed for federal work study eligibility.
Students are able to borrow funds in the form of a private education loan to assist with costs associated with taking a Bar Exam. Bar loans are available through private lenders and eligibility is based on a student’s credit. These loans can assist students with the cost of taking the exam, bar prep courses, and living expenses between the time of graduation and taking the bar. Students may apply for bar loans no sooner than six months before graduation and up to a year after graduation. Before applying for a bar loan, students should speak with the Financial Aid office to insure there is no further eligibility in the Federal Direct Loan program.
Managing Your Drexel Financial Aid Account
Viewing Account Information
Students can use DrexelOne (http://one.drexel.edu) to access financial aid account information online at any time. Students will be able to access their financial aid award information, requirements associated with financial aid, and billing information.
Eligibility Requirements (to maintain loans and scholarships)
Law students should be aware of the fact that their financial aid award, both loans and scholarships, can be affected by academic performance and other factors. Students who drop below 4.5 credits in any semester will not be eligible for federal aid.
Information about eligibility for federal aid, including the descriptions of the types of federal loans available can be found on the financial aid page of the Drexel website. Law school scholarship recipients must retain a minimum cumulative as per their scholarship letter. If a scholarship is reduced or lost for the second year due to first-year grades, that scholarship can be regained for the third year if the student's cumulative GPA reaches the specified GPA at the end of the Spring Semester of the second year. No adjustments to a student's scholarship will be made following the Summer or Fall Semesters.
Law students can receive refunds of their federal and private financial aid to assist with other education-related expenses. Aid will disburse to students' accounts the week before each term starts. Once the billed charges are covered, students will automatically receive the excess of funds. Refunds are processed by the Office of Student Financial Services (Bursar's Office).
Refunds are disbursed to students as checks or direct deposit. The time frame on processing checks is five to seven business days and checks are always mailed to the student and may not be picked up. The time frame on processing direct deposit is two to three business days. Students who wish to receive refunds via direct deposit should follow the steps outlined at http://www.drexel.edu/bursar/Electronic_Refunds.pdf . The process initially takes 24 hours to verify a student's account.
The Drexel Bursar's Office may assess a late fee of 1% on any charge that remains unpaid after a due date, as specified by your billing statement (eBill). Students should be sure to pay all bills on time to avoid late fees. However, a situation may arise in which a student is not able to make a timely payment, either due to personal circumstances or because of some institutional delay. Students may request to have a late fee removed by submitting a Late Fee Dispute to the Bursar's Office. While the matter is being reviewed, students should still pay any undisputed portion of their bill. Contact the Bursar's Office directly at 215.895.1445 for more information about this process.