Drake University
Des Moines, Iowa · Private Nonprofit · 63.8% acceptance rate
ROI Score: 81/100 · Strong Value
Drake University is a private nonprofit institution in Des Moines, Iowa, enrolling approximately 2,543 undergraduates. With a sticker tuition of $52,130, Drake negotiates that down to an average net price of $29,127, and lowest-income students pay as little as $23,275. The investment is well-supported by outcomes: median earnings of $54,300 at six years and $71,901 at ten years, a 74% graduation rate, and a payback period of 7 years collectively earn Drake an ROI score of 81 — rated Strong Value. Repayment rates are among the strongest in its peer group at 90%. The business, STEM, and pharmacy programs drive much of the earnings premium, while arts, humanities, and some communication programs carry weaker ROI grades. Drake's urban Iowa location near the state capital provides meaningful internship and networking access in business, law, and government.
Drake University scores in the top 25% of all schools we track, with strong earnings outcomes relative to cost.
Drake University
Quick Numbers
| In-state tuition + fees | $52,130/yr |
| Out-of-state tuition + fees | $52,130/yr |
| Average net price | $29,127/yr |
| Total 4-year cost (net) | $116,508 |
| Median earnings (10yr post-entry) | $71,901 |
| Median earnings (6yr post-entry) | $54,300 |
| Median debt at graduation | $23,000 |
| Estimated monthly loan payment | $244 |
| Estimated payback period | 7 years |
| 6-year graduation rate | 74.0% |
| Undergraduate enrollment | 2,543 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Drake University is $52,130/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $29,127/year, or roughly $116,508 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $25,824/year, while families earning over $110,000 pay $33,126/year.
The median graduate leaves with $23,000 in federal loan debt, translating to an estimated monthly payment of $244 on a standard 10-year repayment plan. Against median earnings of $71,901 ten years out, the debt-to-earnings ratio is 0.42 - well within manageable territory.
Net Price by Family Income
What families actually pay after grants and scholarships, by income bracket.
| Family Income | Avg Net Price/Year |
|---|---|
| $0 - $30,000 | $25,824 |
| $30,001 - $48,000 | $23,275 |
| $48,001 - $75,000 | $25,171 |
| $75,001 - $110,000 | $27,408 |
| $110,001+ | $33,126 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning under $30,000 pay $25,824 net — actually slightly higher than the $23,275 bracket for $30,001–$48,000. This somewhat unusual pattern suggests Drake's need-based aid is front-loaded in the middle-lower income range. Low-income students should compare Drake's aid package carefully against Iowa's public flagship; the 7-year payback period and 90% repayment rate argue for Drake if a B or better ROI program is the plan.
Middle-income families ($30K-$110K)
The $30,001–$75,000 band pays $23,275–$25,171 — Drake's most competitive aid tier. With a $71,901 ten-year median and $23,000 median debt, the investment story is genuinely compelling at these net-price levels if the student stays enrolled and graduates.
Higher-income families ($110K+)
Families earning $75,001–$110,000 net $27,408; above $110,000 they pay $33,126. For affluent families choosing Drake over selective publics, the outcome data justifies the premium, particularly for business and STEM tracks where 10-year earnings top $90,000.
Earnings by Major
Top 10 most popular majors at Drake University with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Public Relations, Advertising, and Applied Communication | $63,302 | C+ |
| Management Sciences and Quantitative Methods | $97,132 | B+ |
| Marketing | $71,246 | B |
| Psychology | $47,706 | B |
| Journalism | $62,969 | - |
| Computer and Information Sciences | $90,639 | B+ |
| Finance and Financial Management | $88,637 | B |
| Accounting | $87,582 | B+ |
| Biochemistry and Molecular Biology | $67,547 | B+ |
| Teacher Education | $49,289 | C |
Earnings reflect median 4-year post-completion (or 1-year where 4-year unavailable). Grades based on debt-to-earnings ratio.
Program Analysis
Why these programs deliver their earnings outcomes.
Management Sciences and Quantitative Methods
Drake's strongest ROI program — 51 graduates posting first-year median earnings of $80,044 and $97,132 at four years against a 0.30 debt-to-earnings ratio (B+ grade). This data-oriented business track delivers excellent value even against Drake's $29,127 net price. Students with quantitative aptitude and business ambitions should prioritize this path.
Computer and Information Sciences
Computer and Information Sciences graduates 34 students, earning $69,835 in year one and $90,639 by year four. A 0.305 debt-to-earnings ratio earns B+. The program is well-positioned given Drake's proximity to Des Moines's growing financial-tech and insurance sectors, which provide co-op and internship pipelines.
Finance and Financial Management
Finance produces 34 graduates earning $62,049 initially and $88,637 at four years. The 0.40 debt-to-earnings ratio earns a B, solid for a private institution. Drake's Des Moines location in the heart of Iowa's insurance and financial services industry creates direct placement opportunities in a competitive job market.
Public Relations, Advertising, and Applied Communication
PR/Advertising is Drake's largest measured program at 63 graduates but earns only a C+ ROI grade. First-year earnings of $44,492 against $23,250 in debt yields a 0.52 debt-to-earnings ratio. The four-year figure of $63,302 shows upward mobility, but students should plan for a slower earnings ramp in communication careers.
Teacher Education
Teacher Education graduates 23 students earning $41,630 in year one and $49,289 at four years, with a 0.65 debt-to-earnings ratio graded C. Iowa's teacher shortage provides reasonable job security, but Drake's private-school price tag makes the ROI math tight for education majors. Students in this track should maximize tuition grants and explore Iowa's student-loan forgiveness for educators.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 85.9% | 52.0% |
| 3-year repayment | 89.9% | 62.0% |
| 5-year repayment | 86.5% | 68.0% |
| 7-year repayment | 88.4% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 63.8% |
| SAT Math (25th-75th) | 530-670 |
| SAT Reading (25th-75th) | 580-680 |
| ACT Composite (25th-75th) | 24-29 |
| Enrollment | 2,543 |
| Pell Grant recipients | 21.7% |
| Avg faculty salary (monthly) | $10,431 |
Drake accepts about 64% of applicants — moderately selective. The ACT 24–29 middle-50% range means strong high-school preparation is expected but a perfect record is not required. Drake offers merit scholarships that can meaningfully reduce costs; students with strong GPAs and test scores should inquire early about renewable award levels.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Compared to Bryant University and University of Tulsa — both peer-listed schools — Drake's 74% graduation rate and 7-year payback period are competitive. Drake's repayment rate of 90% stands out as particularly strong. The institution punches above its weight in placement outcomes for a small Midwestern private, but students choosing between Drake and a Big Ten school should model specific program earnings rather than institutional averages.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Drake University (this school) | 81 | $29,127 | $71,901 |
| Bryant University | 84 | $41,219 | $90,008 |
| University of Tulsa | 83 | $15,000 | $61,408 |
| Stonehill College | 80 | $33,016 | $77,745 |
| Briar Cliff University | 46 | $23,907 | $54,475 |
| Buena Vista University | 39 | $18,846 | $49,156 |
Who Thrives Here
Drake attracts academically motivated students who value small-city vibrancy with manageable class sizes. The middle 50% ACT range of 24–29 and SAT reading/math of 530–680 signals selective but accessible admissions. Students entering business analytics, computer science, or pharmacy have a well-documented path to strong earnings. Students drawn to drama, history, or legal studies should factor in more modest ROI grades and consider pairing those majors with career-focused minors or law school pathways.
The Verdict: The Investment Pays Off
Drake University delivers above-average financial returns for its graduates. At a net cost of $29,127 per year ($116,508 over four years), graduates earn a median of $71,901 ten years after enrollment. That puts the payback period at roughly 7 years - a solid return on the investment.
The data highlights several strengths: a 74.0% graduation rate, manageable debt relative to earnings, high loan repayment success.
Median debt of $23,000 against $71,901 in earnings is reasonable, though major choice matters significantly. Students in higher-earning programs will see better returns.
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Data: College Scorecard API (U.S. Department of Education)
Vintage: 2024-2025 · Last updated: 2026-03-25
Earnings reflect median outcomes for all federal financial aid recipients. Individual results vary by major, effort, and career path.