Penn’s commitment is to reevaluate any changes in a family’s circumstances at any time during the year. If your family experiences such changes, we encourage you to contact our office and speak to an Assistant Director.

Yes. Penn makes an allowance for educational savings, based on the parents' income and the number of younger children in the family.

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 may anticipate. Approximately 80% of freshmen who applied for financial aid for 2009–2010 received a need-based award.

Submit all required documents listed on application checklists

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.

No. Students may borrow federal Stafford Loans regardless of whether Penn is expecting them to do so to meet their financial need.

Penn’s no-loan policy applies to students’ base academic year aid packages. Loans will still be available, at the student’s discretion, to substitute for work-study and expected summer savings, for certain expenses not included in the standard academic year cost of attendance (e.g., health insurance), and for summer school.

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

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