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Frequently Asked Questions |
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What are my chances of receiving
financial aid? |
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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. |
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How
do I apply for financial aid at Penn? |
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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 |
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Does
financial aid continue after my freshman year? |
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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. |
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What
if my family’s financial situation changes? |
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Upon
request, Student Financial Services will review
your aid package if your family experiences a
change in financial circumstances |
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What
if I am not eligible for need-based financial
aid |
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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 |
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Can
I use Payment Option Programs even if I receive
financial aid |
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Yes.
Many families of aided students use one or more
payment options to assist them with their family
contribution |
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