The housing allowance is based on the median room rate in the University College Houses, whether or not you live in the College Houses.

The meal allowance enables residential students to choose a dining plan best suited to their needs. For students living at home with their family, an allowance for meals away from home is provided.

Personal expenses include an allowance for clothing, laundry, and recreation, as well as the student health clinical fee.

Note for Summer Session

The cost is approximately $4,453 per course for Summer Session plus one general fee of $236 per session. These costs are not included in the 2009-2010 educational expense budget.

Note for Married Students or Students with Dependents Your basic educational expense budget includes tuition, fees, and books. Penn expects living and personal expenses to be covered by your spouse’s income. If you are not married, or if your spouse is a student, a supplement may be added to the basic budget to assist you with your living expenses. Penn has limited financial aid funds to support the individual non-educational financial needs of married students and students with dependents. Independent students in need of supplemental funding may be eligible for additional unsubsidized Federal Stafford Loan.

Family Contribution

Your financial aid application will be individually reviewed to allow for a precise evaluation of your family’s financial situation. Financial aid is awarded based on evaluated financial need. Your financial need is derived by subtracting your family contribution, as determined by Student Financial Services, from Penn’s educational expense budget.

The family contribution includes contributions from you and your parents or spouse. In addition to your parents’/spouse’s contribution, you are expected to contribute to your educational expenses from accumulated assets and 2010 summer earnings.

Note: After you file your FAFSA, the U.S. Department of Education will send you a report indicating an estimated family contribution (EFC) based on a federal statutory formula. The contribution that Penn will expect, after a thorough review of your financial circumstances, may very well be different from the federal estimate.

How to Apply

Apply for financial aid at the same time you file your admission application. The deadline is December 15, 2009. Timely application will ensure financial aid and admissions notification at about the same time.

To apply for aid, follow the instructions on the Financial Aid Application Checklist and Forms Summary Chart.

Before you apply, use the guidelines below to determine your dependency status. Your dependency status will determine how you complete your forms.

Independent Status

Penn endorses the principle that education is first and foremost the responsibility of you and your family. Therefore, financial aid funding is used to supplement, not replace, your ability to pay. In general, Penn requires parental information. However, we recognize that you may not fit the traditional undergraduate profile. Parental data may not be required, based on the following guidelines: If you will be age 26 by 12/31/10, you do not need to provide parental information on the application forms.

If you will not reach age 26 by 12/31/10, you must:

• meet both federal and Penn’s policies on independent status as outlined below;
• In question #16 of the Penn Financial Aid Supplement explain why you should be independent, i.e., what you have been doing and how you have been supporting yourself.

The Federal Policy on Independent Status You need to meet at least one of the following criteria:

• you were born before January 1, 1987
• you will be enrolled in a master’s or doctorate program (beyond a bachelor’s degree) at the beginning of the 2010-2011 school year
• you are married as of the day you apply (or you’re separated but not divorced)
• you have children who receive more than half their support from you
• you have dependents (other than your children or spouse) who live with you and who receive more than half of their support from you at the time you apply and through June 30, 2011
• you are a veteran of the U.S. Armed Forces. ( A veteran includes a student who attended a U.S. service academy and who was released under a condition other than dishonorable. For more details on veteran status, see the explanatory notes on the FAFSA)
• at any time since you turned age 13, both your parents were deceased, or you were in foster care, or were a dependent/ward of the court
• you are, or were, an emancipated minor as determined by a court in your state of legal residence
• you are, or were, in legal guardianship as determined by a court in your state of legal residence
• at any time after July 1, 2009, your high school or school district homeless liaison determined that you were an unaccompanied youth who was homeless
• at any time after July 1, 2009, your high school or school district homeless liaison determined that you were an unaccompanied youth who was homeless
• at any time after July 1, 2009, the director of a runaway or homeless youth basic center or transitional living program determined that you were an unaccompanied youth who was homeless or were self-supporting and at risk of being homeless

In all cases, the financial aid administrator is required to verify eligibility for independent status before disbursement of federal funds can be made. If you establish independence under these conditions, you could lose such status if the financial aid administrator subsequently discovers that you do not meet the criteria for independence. Dependency status for state grants vary, and you should contact your state agency for eligibility information.

The University Policy on Independent Status You will be considered independent by Penn’s policy and therefore not required to submit parental data if you reach age 26 by 12/31/11. However, if you will not reach age 26 by 12/31/11 but you meet the federal policy for independent status, the decision to waive parental data is made by Student Financial Services on a case-by-case basis. Dependency status is determined at the time of admission.

Notification of Financial Aid Eligibility

Applicants who meet the December 15 deadline will be notified of their financial aid eligibility beginning in early February. Financial aid applicants who submit after February 1 will be notified of their financial eligibility in mid-May.