Fuel the Future With Undergraduate Financial Aid and Scholarships
Why support financial aid and scholarships?
Your support helps make it possible for thousands of ambitious students to follow in the footsteps of the entrepreneurs, innovators, and change agents who came before them. Because of you, talented young people will have the opportunity to pursue their dreams and contribute their unique skills and ideas in order to make the future better for all.
For a personal conversation about your investment in scholarship funding, contact:
Vice President, Development
92.3% of all Drexel undergraduates receive some form of financial assistance
64.0% of full time undergraduates applied for need-based aid
87.6% of full time undergraduates receive Drexel or donor-funded aid (as opposed to loans, government aid, or other external support).
89.0% of those who applied for need-based aid demonstrated financial need
What are my options?
You can establish your own, named scholarship at various levels, or you can give to an existing fund. To explore these options and how they relate to your goals and priorities, contact Christopher Brittin, Vice President, Development, 215.571.3849.
Named scholarships: endowed and current Impact
Endowed scholarships ($100,000+)
When you create an endowed scholarship, you will benefit students for generations to come. Drexel establishes an endowed fund when you instruct the University to hold the principal of your gift in perpetuity and invest it. The University directs some of the return generated each year to fulfill your scholarship goals.
The amount available for spending from the fund you establish is determined by the University’s spending rule, which is set by the Board of Trustees. Currently, the spending rule calls for a payout of 4.75% of the endowed fund’s market value, based on a trailing seven-year average market value.
Gifts establishing endowed scholarships are generally made over five years, and you have the option to request preferences for recipients, such as students in specific schools of colleges at Drexel.
- Fully endowed scholarship: $1,000,000+
- Partially endowed restricted scholarship: $100,000+
Current impact scholarships ($12,500+)
Current impact scholarships allow you to immediately make a difference in a student’s life. When you create a current impact scholarship, your gift is not invested as part of the University’s pooled endowment. Rather, it goes directly to students, typically within a year of the fund being created. These scholarships partially covers the cost of attendance for at least one student annually.
Current impact scholarship gifts are generally made over five years, and if you establish a restricted scholarship you can request a preference for recipients in specific schools or colleges at Drexel.
- Restricted current impact scholarship: $25,000+
- Unrestricted current impact scholarship: $12,500+
Many scholarship funds already exist at Drexel. In addition to funds at the University level that can be awarded to any student, individual colleges and schools typically have their own scholarship funds, dedicated to their own students.
Other options for giving to an existing scholarship include:
Support an existing scholarship at Drexel now