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Frequently Asked Questions
Prospective Undergraduate Students
 
 
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My parents are concerned about committing to Penn’s educational costs in this uncertain economic climate.Will Penn be able to help me stay enrolled if my family’s financial situation changes?

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.

 
I have younger siblings who will be attending college in a few years. and my parents are concerned about saving enough for their educational costs while paying for mine. Does Penn take younger siblings into consideration when determining my family contribution?

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

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

 
How do I apply for financial aid at Penn?

Submit all required documents listed on application checklists

 
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.

 
Does the no-loan policy mean that I cannot borrow a student loan?

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.

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

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.

 
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.

 
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