CollegeTuitionData — College Data in Plain English

Drake University

Des Moines, IA 50311-4505 — Private Nonprofit

Value Score: 75/100 | ROI Score: -66 | Affordability Score: 55/100

Tuition (In-State): $52,130 | Out-of-State: $52,130

Acceptance Rate: 63.8% | Graduation Rate: 75.7% | Retention Rate: 84.1%

Median Earnings (10yr): $71,901 | Median Debt: $23,000

SAT Average: 1292 | ACT Midpoint: 28

Student Body Size: 2,543 (medium)

Pell Grant Recipients: 21.7% | Federal Loan Rate: 44.5%

Average Faculty Salary: $10,431/month

Tuition & Affordability Analysis

In-state tuition at Drake University is $52,130 per year, which is 32% above the national average for private institutions.

Out-of-state students pay $52,130/year — a premium of $0 over in-state rates. Over four years, out-of-state students pay approximately $0 more than their in-state peers.

Estimated four-year tuition cost: $208,520 (tuition only, not including room, board, and fees).

What You Actually Pay: Net Price by Family Income

The sticker price rarely reflects what families actually pay. After grants and scholarships, here is the average net price by family income bracket at Drake University:

  • Families earning $0–$30,000: $25,824/year
  • Families earning $30,001–$48,000: $23,275/year
  • Families earning $48,001–$75,000: $25,171/year
  • Families earning $75,001–$110,000: $27,408/year
  • Families earning $110,000+: $33,126/year

Low-income families receive an average discount of $26,306/year, paying just 50% of the sticker price.

Admissions Snapshot

Drake University has an acceptance rate of 63.8%, placing it in the Moderately Selective (50–70%) category. This means roughly 996 students apply each year.

The average SAT score of admitted students is 1292, 22% above the national average. This reflects a strong academic student body.

The ACT midpoint is 28, 33% above the national average.

Graduate Outcomes & Return on Investment

75.7% of students at Drake University complete their degree, 22% above the national average. This is a solid graduation rate.

First-year retention rate: 84.1% (4% above the national average). This indicates most students are satisfied enough to return for sophomore year.

Graduates of Drake University earn a median salary of $71,901 ten years after enrollment, 76% above the national average. This represents a $36,901/year earnings premium over the average high school diploma holder, or $1,107,030 in additional lifetime earnings over a 30-year career.

The median student debt at graduation is $23,000, 7% above the national average. On a standard 10-year repayment plan at 5.5% interest, this translates to approximately $250/month, with a total repayment of $30,000 (including $7,000 in interest).

Debt-to-Earnings Ratio: 0.32x. This is an excellent ratio — graduates carry manageable debt relative to their earning power.

Breakeven Point: Based on the earnings premium over high school graduates, a degree from Drake University pays for itself in approximately 6 years. This is a reasonable investment timeline.

Financial Aid Profile

21.7% of students at Drake University receive Pell Grants (federal need-based aid for families earning under ~$60,000), 34% below the national average. A lower Pell rate suggests the student body skews toward higher-income families. Merit aid may be more prevalent than need-based aid.

44.5% of students take federal loans, 5% below the national average. This is a moderate borrowing rate.

Average faculty salary: $10,431/month, 20% above the national average. Higher faculty salaries generally indicate greater investment in teaching quality and ability to attract experienced professors.

Student Body & Campus Diversity

Drake University enrolls 2,543 undergraduate students. This mid-sized institution offers a balance between personalized attention and diverse academic offerings.

Diversity Index: 52/100 (higher = more diverse). The campus has moderate diversity.

Student body composition: White 68%, Hispanic 9%, Black 8%, Asian 5%.

Drake University: Medium-Sized Private Institution with Strong Graduation and Earnings Potential

Report Card: Overall Grade C-

Drake University receives an overall grade of C- based on six dimensions:

  • Academics: C+
  • Value: F
  • Outcomes: B+
  • Affordability: C-

College Analysis

Drake University is a Private Nonprofit institution in Des Moines, IA with approximately 2,543 students. Drake University has a strong graduation rate and decent earnings potential for graduates. The university offers a medium-sized campus with a diverse student body, including a significant percentage of Asian students. Drake University's tuition is high, but the median earnings after 10 years are relatively good, suggesting a positive ROI for some students.

The Verdict: Is Drake University Worth It?

Drake University presents a complex value proposition. With an in-state and out-of-state tuition of $52,130 and median 10-year earnings of $71,901, the immediate return on investment appears modest, especially considering the median debt of $23,000. The ROI score of -66 further underscores this concern, suggesting that, on average, graduates may not recoup their investment quickly compared to national benchmarks. However, this figure often doesn't account for the full spectrum of career paths, including high-earning potential in specialized fields or the value of graduate education. The debt-to-earnings ratio is manageable, with median debt representing about 32% of median 10-year earnings. A rough debt payoff timeline, assuming 10% of annual earnings go towards debt repayment, would be around 4-5 years, which is reasonable. The value is likely higher for students who secure strong starting salaries in lucrative fields like finance or specialized tech roles, or for those who leverage Drake's strong pre-professional advising for graduate school. It's not a clear 'gem' based solely on raw financial metrics, nor is it definitively 'overpriced' given the quality of education and career support. It's a solid, albeit not exceptional, investment, particularly for students targeting careers in the Midwest's established industries.

Return on Investment

While Drake University offers strong academic and career prospects, the high tuition may not be worth it for all students, especially those seeking a more affordable education.

Debt Reality Check

Median student debt at Drake University: $23,000. Monthly payment on a standard 10-year plan: $261/month. Total repaid: $31,320 ($8,320 in interest).

Breakeven vs high school diploma: 0.5 years. Debt burden: Low. Salary needed for comfortable repayment: $31,320.

Strengths

  • Strong graduation rate and earnings potential
  • Diverse student body with a notable Asian population

Weaknesses

  • High tuition cost
  • Negative ROI score

Academic Profile

SAT Average: 1292. ACT Midpoint: 28. Retention Rate: 84.1%.

Drake University is recognized for its strong interdisciplinary approach and a commitment to experiential learning, particularly evident in its highly regarded Colleges of Business and Public Administration, Pharmacy and Health Sciences, and Arts and Sciences. The curriculum emphasizes critical thinking, communication, and problem-solving, preparing students for a dynamic job market. A standout feature is the Drake Curriculum, which ensures students gain a broad liberal arts foundation alongside their major, fostering well-rounded graduates. Research opportunities are readily available, even for undergraduates, with faculty actively seeking student involvement in projects across various disciplines. While specific faculty salary data isn't provided, the university's private status and commitment to academic rigor suggest a faculty composed of dedicated scholars and practitioners. The student-faculty ratio, though not explicitly stated, is generally kept low at private institutions like Drake to facilitate personalized attention. The Honors Program offers a challenging academic path for high-achieving students, providing enriched coursework and research opportunities. Drake also boasts robust study abroad programs, encouraging students to gain global perspectives. Academic support is a priority, with resources like the Student Success Center offering tutoring, academic advising, and workshops to help students navigate their academic journey and achieve their goals.

Financial Aid Guide for Drake University

Pell Grant recipients: 21.7%. Students taking federal loans: 44.5%.

Drake University offers a comprehensive financial aid program designed to make its private education accessible. A significant portion of Drake students receive some form of financial assistance, primarily through merit-based scholarships and need-based aid. Merit scholarships are often awarded automatically based on academic achievement (GPA and standardized test scores, if submitted) at the time of admission, with amounts varying widely. For instance, top academic scholarships can range from $15,000 to over $30,000 annually. Need-based aid, determined by the FAFSA and potentially the CSS Profile, includes grants and institutional aid. Drake aims to meet a substantial portion of demonstrated need for admitted students. Work-study opportunities are also available, providing students with part-time employment on campus to help cover living expenses. Typical aid packages for middle-income families might combine merit scholarships with some need-based grants, potentially reducing the net cost significantly. For families with an annual income of, say, $75,000-$100,000, a combination of merit and need-based aid could bring the out-of-pocket cost down considerably from the sticker price of $52,130. Scholarship tips include applying early, highlighting extracurricular achievements and leadership roles, and exploring external scholarship opportunities. While Drake is generally considered receptive to aid negotiation, especially if you have competing offers from similarly ranked institutions or a documented change in financial circumstances, it's crucial to present a well-reasoned case with supporting documentation.

Hidden Costs at Drake University

  • Room and board costs can add an estimated $14,000-$17,000 per academic year, depending on the chosen meal plan and housing assignment.
  • Textbooks and course materials can range from $1,000 to $1,500 annually, though digital options and rentals can sometimes reduce this.
  • Student activity fees, technology fees, and other miscellaneous campus fees can total around $500-$1,000 per year.
  • Transportation costs, including travel to and from home, local transit, or potential car expenses (if parking is permitted and utilized), can vary greatly but budget at least $500-$1,000 annually.
  • Personal expenses, such as toiletries, laundry, entertainment, and snacks, can easily add up to $1,500-$2,500 per year.
  • Health insurance, if not covered by a parent's plan, can cost upwards of $2,000-$3,000 annually for the university's student plan.

Alumni Outcomes & Career Paths

Drake University graduates are positioned for success primarily within the Midwest, leveraging the university's strong connections in finance, insurance, marketing, and healthcare. Major employers that actively recruit from Drake include Principal Financial Group, Wells Fargo, Nationwide Insurance, and UnityPoint Health, all of which have significant operations in Des Moines. Alumni also find opportunities in Chicago, a major hub for finance and marketing, and Minneapolis, particularly in the healthcare and technology sectors. Industries where Drake alumni cluster most heavily are financial services, insurance, marketing and advertising, healthcare administration, and education. While specific graduate school placement rates vary by program, Drake has a solid track record of placing students into top-tier law schools, business programs, and medical schools, often with strong support from faculty advisors. Notable alumni include former Iowa Governor Robert D. Ray and Pulitzer Prize-winning journalist Clark Mollenhoff. Drake's career services are generally well-regarded, offering robust internship placement assistance, resume workshops, and networking events. The university emphasizes experiential learning, fostering strong internship pipelines with local and regional businesses. Many students secure internships at companies like Meredith Corporation, EMC Insurance, and various startups in the Des Moines tech scene, which often translate into full-time offers. Geographic hiring patterns show a strong concentration of graduates remaining in Iowa, particularly in the Des Moines metropolitan area, followed by significant placements in Illinois (especially Chicago) and Minnesota.

Campus Life & Culture at Drake University

Drake University attracts a diverse student body, with a significant percentage coming from Iowa and surrounding Midwestern states, though a growing number of students enroll from across the nation. The university fosters an environment where ambitious, engaged students who value community and seek opportunities for personal and professional growth tend to thrive. Students who are proactive in seeking out internships, research, and leadership roles will find Drake particularly rewarding.

Drake University offers a vibrant campus life deeply integrated with the city of Des Moines, providing students with a unique blend of a traditional college experience and urban exploration. The campus itself is an attractive, walkable space, often described as an oasis in the city, with iconic buildings like the Olmsted-designed Sheslow Auditorium serving as a central hub. Social life at Drake is active but not overwhelming, characterized by a strong sense of community. While Greek life is present and popular, with several fraternities and sororities contributing to the social scene, it doesn't dominate campus culture, leaving ample room for diverse interests. Student organizations are plentiful, covering everything from academic clubs and cultural groups to intramural sports and volunteer initiatives. The Drake University Student Activities Board (DUSAB) is a key player in organizing campus events, from concerts and movie nights to larger traditions like Homecoming, which is a significant event for alumni and current students alike. For those seeking a more structured social environment, the university offers various living-learning communities and residential halls that foster close-knit groups. Athletics are a point of pride, with the Bulldogs competing in the Missouri Valley Conference, drawing enthusiastic crowds to games, especially basketball. The 'vibe' at Drake is often described as engaged, ambitious, and community-oriented, with students who are eager to make the most of both their academic and extracurricular pursuits, leveraging the resources of both the university and its surrounding urban environment.

Campus Highlights

  • The integration with downtown Des Moines, offering students unparalleled access to internships, cultural events, and urban exploration.
  • The historic and picturesque campus, designed in part by the renowned landscape architect John Charles Olmsted.
  • Drake's strong emphasis on experiential learning, including required internships for many programs.
  • The highly respected Colleges of Business, Pharmacy, and Health Sciences, drawing students from across the region.
  • A vibrant campus community with a strong presence of student organizations and active Greek life.
  • The Bulldogs athletic teams, competing in the NCAA Division I Missouri Valley Conference, fostering school spirit.
  • The Drake Relays, a premier track and field event that draws national and international athletes to campus each spring.

Location & Regional Advantages

Drake University's location in Des Moines, Iowa, offers a unique set of advantages and considerations for students. Des Moines is a growing metropolitan area with a strong economy, particularly in the insurance, finance, and technology sectors. This provides a fertile ground for Drake graduates seeking employment in these fields, with major companies like Principal Financial Group and Wells Fargo headquartered or having substantial presences in the city. The cost of living in Des Moines is significantly lower than in major coastal hubs or even larger Midwestern cities like Chicago, making the overall financial picture for graduates more favorable. While Des Moines isn't a direct neighbor to a major industry hub like Silicon Valley or New York City, it is strategically located within a day's drive of Chicago and Minneapolis, offering access to broader job markets for those willing to relocate. The quality of life in Des Moines is often cited as a positive, with a vibrant downtown, numerous parks, cultural attractions, and a generally safe environment. The weather is typical of the Midwest, with distinct seasons including cold winters and warm summers. This location fosters a strong sense of community and allows Drake to cultivate deep relationships with local businesses, creating valuable internship and job opportunities that might be harder to access in more saturated markets. The relative affordability and strong job market in key sectors make Des Moines a practical launchpad for a career.

How to Get Into Drake University

Drake University's admission process is moderately selective, with an acceptance rate around 63.8%. While not hyper-competitive, a strong application is essential. Drake values a holistic review, meaning they look beyond just grades and test scores. They seek students who demonstrate academic potential, a commitment to community, and a clear sense of purpose. For GPA, aiming for a B+ to A- average is generally advisable, though strong performance in challenging coursework is always a plus. While SAT/ACT scores are not provided, historically, successful applicants often fall within the middle 50% range of admitted students. If Drake is test-optional, focus on strengthening other parts of your application. The admissions essay is a crucial opportunity to showcase your personality, critical thinking, and unique experiences. Topics that highlight resilience, intellectual curiosity, leadership, or community involvement tend to resonate well. Demonstrated interest is often considered; engaging with Drake through campus visits (virtual or in-person), attending information sessions, and connecting with admissions counselors can positively impact your application. Applying Early Action (EA) can be advantageous, allowing you to receive an earlier decision and potentially more time to finalize your enrollment plans, though it is non-binding. The typical timeline involves applying by the November 1st EA deadline or the regular decision deadline of January 15th, with decisions released shortly thereafter.

How Drake University Compares to Similar Schools

Similar schools: Grinnell College, Coe College, Cornell College, Augustana College (IL)

Advantages

  • Stronger emphasis on professional programs (business, law, health sciences) compared to some liberal arts peers.
  • Location in Des Moines provides direct access to a robust regional job market in finance and insurance.
  • More extensive alumni network within the Iowa and Midwest business community.

Disadvantages

  • Higher sticker price compared to some regional public universities.
  • Less national name recognition than some highly selective liberal arts colleges.
  • Potentially fewer research-intensive opportunities compared to larger research universities.

Best For

  • Students seeking a less expensive education option may find better value at other institutions.
  • Prospective students should consider the high tuition and potential financial risk when evaluating Drake University.

Avoid If

  • Students looking for a more affordable education option should consider other institutions.
  • Those seeking a larger campus with more diverse extracurricular activities might find better fit elsewhere.

Frequently Asked Questions about Drake University

How much does it cost to attend Drake University?

In-state tuition at Drake University is $52,130 per year, and out-of-state tuition is $52,130 per year. The median student debt at graduation is $23,000.

What is the acceptance rate at Drake University?

Drake University has an acceptance rate of 63.8%.

What is the graduation rate at Drake University?

Drake University has a graduation rate of 75.7%.

How much do Drake University graduates earn?

The median earnings for Drake University graduates 10 years after enrollment is $71,901. With median debt of $23,000, graduates earn roughly 3.1x their debt level annually.

How big is Drake University?

Drake University has approximately 2,543 students and is classified as a medium institution. It is located in Des Moines, IA and is a Private Nonprofit institution.

Is Drake University worth the cost?

Drake University has an ROI score of -66 out of 100. With in-state tuition of $52,130 per year and median post-graduation earnings of $71,901, the data suggests the return on investment may be below average.

Where is Drake University located?

Drake University is located in Des Moines, IA. It is a Private Nonprofit institution with approximately 2,543 students.

How much student debt do Drake University graduates have?

The median student debt for Drake University graduates is $23,000. With median earnings of $71,901 ten years after enrollment, graduates can expect a debt-to-income ratio of 32%.

Is Drake University a good college?

Drake University has a graduation rate of 75.7% and median post-graduation earnings of $71,901. Drake University has a high admission rate but a strong graduation rate of 75.68%.

How does Drake University compare to similar colleges?

The student body is diverse, with a notable Asian population. Compared to peer institutions, Drake University offers a strong academic environment and decent earnings potential, but the high tuition may not justify the cost for all students.

What career prospects do Drake University graduates have?

Graduates of Drake University are well-positioned for careers in various fields, with a strong network and good earning potential.

What should prospective students know about Drake University?

Drake University is well-suited for students who value a strong academic environment and career prospects but are willing to invest in a high-tuition institution.

What makes Drake University stand out?

Median earnings 10 years after graduation are $71,901, which is above the national average.

What are the pros and cons of attending Drake University?

The tuition is high, but the ROI score is -66, indicating a potential financial risk.

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Analysis based on U.S. Department of Education data. Not enrollment advice. Verify information with the institution directly.