All users except collaborators can edit folders.
When you create a folder you specify a number of options that can be edited at any time.
There are two ways to access your folder's settings.
From the folder info panel: Navigate to the folder you want to edit and click the folder info icon in the top right corner of the view. Click the relevant field to edit it.
Right-click the folder you want to edit in the left-hand navigation panel. From the drop-down, select the editing option you want.