At $30,042/yr net price, Drake University graduates earn $71,901/yr within 10 years of enrollment, which is $37,901/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $30,042 |
| Estimated 4-Year Cost | $120,168 |
| Median Earnings (10yr post-entry) | $71,901/yr |
| Earnings Premium vs. HS Diploma | +$37,901/yr |
| Estimated Break-Even | 3.2 years |
| Graduation Rate (6-year) | 77.3% |
| Median Debt at Graduation | $23,000 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $27,372/yr |
| $30,001 - $48,000 | $25,335/yr |
| $48,001 - $75,000 | $26,358/yr |
| $75,001 - $110,000 | $32,215/yr |
| $110,001+ | $32,993/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Pharmacy, Pharmaceutical Sciences, and Administration. | Doctoral | $113,335 | |
| Management Sciences and Quantitative Methods. | Bachelor | $78,971 | $23,979 |
| Educational Administration and Supervision. | Master | $71,255 | $23,522 |
| Business Administration, Management and Operations. | Master | $69,338 | |
| Mathematics. | Bachelor | $65,238 | |
| Management Information Systems and Services. | Bachelor | $64,990 | |
| Computer and Information Sciences, General. | Bachelor | $62,409 | $19,000 |
| Accounting and Related Services. | Master | $60,623 | |
| Curriculum and Instruction. | Master | $59,485 | |
| Accounting and Related Services. | Bachelor | $59,485 | $20,000 |
The Risk Factor
77.3% of students at Drake University graduate within 6 years. A significant share of students finish, but roughly 23% do not complete their degree.
Analysis
Drake University delivers solid financial returns for most graduates, with median earnings of $71,901 placing it well above the national average for private colleges. The $30,042 annual net price creates a manageable debt load, with most graduates owing around $23,000.
Pharmacy stands out as Drake's financial winner, with graduates earning $113,335 annually. This program justifies the investment and positions Drake competitively in the Midwest healthcare market. Management sciences and business administration also perform well, benefiting from Des Moines' strong corporate presence and Drake's business school reputation in the region.
The concerning pattern appears in lower-earning programs where debt remains consistent around $23,000. Mathematics graduates earn $65,238, creating a tighter margin between investment and return. You should carefully evaluate any program not listed in the top earners, as debt levels suggest uniform borrowing regardless of earning potential.
Drake works best for you if you're targeting pharmacy, business, or professional programs where the school's regional network matters. The 77% graduation rate indicates most students complete their programs, reducing the risk of debt without a degree. However, you should look elsewhere if you're considering lower-earning majors where the debt-to-income ratio becomes problematic.
With only 21% of students receiving need-based aid, Drake appears to rely heavily on merit scholarships. This creates opportunities for strong academic performers to reduce costs significantly, but leaves average students paying closer to full price. Your financial aid package will largely determine whether Drake makes sense for your specific situation.
Frequently Asked Questions
Is Drake University worth the cost?
Drake University's value depends heavily on your major. Pharmacy graduates earn $113,335 annually, making the $30,042 yearly cost worthwhile, but general business and math majors earn around $65,000-$69,000, which barely justifies the price.
What is Drake University's return on investment?
Drake's ROI varies dramatically by program. The pharmacy school delivers strong returns, but most other majors produce average earnings of $71,901 after a $120,000+ education. The math doesn't work well for non-pharmacy students.
How much debt do Drake University students graduate with?
Drake students graduate with a median debt of $23,000, which is manageable compared to the school's high costs. However, this figure likely reflects significant family financial support rather than generous aid packages.
Which Drake University programs are worth the money?
Drake's pharmacy program justifies the cost with $113,335 starting salaries. Management sciences shows decent returns at $78,971, but most other programs struggle to deliver value at Drake's price point.