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Paying for a Penn Education
Examples of Aided Students
Prospective Undergraduate Students
 

Here are a few case studies of Penn aid packages received by families of varying financial situations. While these examples help provide a sense of what your family might expect, Penn cannot guarantee that every student whose family feels they resemble one of these case studies will receive a similar aid package.

 
Todd

Todd’s mother is deceased, and his father earns a modest income to help support a family of four. His father’s total annual income, including Social Security benefits for the younger children, amounts to $39,000. Todd’s father is not expected to contribute to his education while Todd is expected to contribute $1,250 from his summer earnings.
The total family contribution is $1,250.

Penn's Cost of Attendance $66,800
Todd's family contribution $1,250
Todd's financial aid award $65,550
 
Amalia

Amalia lives with her parents and younger brother. Her parents’ total income is $110,000. The family has $130,000 in home equity and $15,000 in savings. Penn calculated that Amalia’s parents could contribute $12,000 to her education for the current year.  Amalia is expected to contribute $2,500 from her summer earnings.
The total family contribution is $14,500.

Penn's Penn's Cost of Attendance $66,800
Amalia's family contribution $14,500
Amalia's financial aid award $52,300
 
Sherie

Sherie lives with her parents and younger brother. Her parents’ combined income is $160,000; they own a home with $215,000 in equity and have savings of $26,000. Penn expects Sherie’s parents to contribute $32,000 and Sherie to contribute $2,500 from her summer earnings.
The total family contribution is $34,500.

Next year, Sherie’s brother may attend college, although he is uncertain about his exact plans.  If he attends a school with costs similar to Penn’s, and if the family’s financial situation remains similar, Penn will expect Sherie’s parents to contribute $19,200 and Sherie, $2,500.
The total family contribution is $21,700.

With One Child In College
Penn's Cost of Attendance $66,800
Sherie's family contribution $34,500
Sherie's financial aid award $32,300
With Two Children In College
Penn's Cost of Attendance $66,800
Sherie's family contribution $21,700
Sherie's financial aid award $45,100

Financing and Payment Plan Options

Even though Penn's aid packages do not include loans, parents and students may still choose to borrow from programs such as the Federal Direct Loan Program to help manage their expected family contribution. These programs can help spread costs over a longer time period. See the loans section for more details.

The Penn Monthly Budget Plan allows you to budget Fall and Spring Semester expenses over a 10-month period. You decide how much to budget each year. Payments begin in May and end in February.

 
These figures are based on the 2015-2016 cost of attendance
 

 

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