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Frequently Asked Questions

 

What are my chances of receiving financial aid?

The only way to determine your eligibility is to complete the application process. The likelihood of receiving some form of aid is probably better than you and your family anticipate. Approximately 72% of freshmen who applied for financial aid for 2007-2008 received a need-based award.

 

How do I apply for financial aid at Penn?

Submit the CSS/PROFILE, Penn’s Form 6, and the Free Application for Federal Student Aid (FAFSA). Copies of your parents’ and your complete tax returns and W2 forms are also required. Application checklists for prospective students are available here

 

Does financial aid continue after my freshman year?

Yes. Penn is committed to meeting your full need throughout your undergraduate years. If family circumstances remain stable, your financial aid will remain relatively constant. You will need to reapply for financial aid each year.

 

What if my family’s financial situation changes?

Upon request, Student Financial Services will review your aid package if your family experiences a change in financial circumstances

 

What if I am not eligible for need-based financial aid

Payment Options can provide families like yours flexibility in meeting educational expenses. These low-cost programs enable you to distribute educational costs over an extended period of time

 

Can I use Payment Option Programs even if I receive financial aid

Yes. Many families of aided students use one or more payment options to assist them with their family contribution

Paying for a Penn Education Index
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Prospective Undergraduate Index
A Look at the Facts
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Financing and Payment Options
Frequently Asked Questions
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