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| A Look
at the Facts |
| Prospective
Undergraduate Students |
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We urge you not to let
financial concerns deter you from applying to Penn.
We make every effort to help meet your financial needs,
as illustrated by these facts:
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For 2009–2010, Penn is committing
over $120 million of its resources for grant aid
to undergraduate students.
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Approximately
80% of the freshmen who applied for financial
aid for the 2009–2010 academic year received
a need-based award.
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Almost 60% of all Penn
undergraduates receive some form of financial assistance.
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Over
40% of Penn undergraduates are awarded need-based
grant aid.
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The average financial aid award for
incoming aided freshmen in 2009 was $34,435 (combination
of grant and part-time job).
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| Aided
Freshmen by Family Income |
| Class
of 2013 (entering September 2009) |
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| $1 - 19,999 |
103 |
$49,076 |
97% |
| $20,000 - 34,999 |
90 |
$45,250 |
98% |
| $35,000 - 49,999 |
118 |
$44,125 |
100% |
| $50,000 - 64,999 |
75 |
$42,175 |
96% |
| $65,000 - 79,999 |
87 |
$40,621 |
95% |
| $80,000 - 94,999 |
85 |
$36,129 |
96% |
| $95,000 - 109,999 |
89 |
$33,341 |
95% |
| $110,000 -124,999 |
99 |
$30,907 |
91% |
| $125,000-139,999 |
78 |
$28,606 |
93% |
| $140,000-154,999 |
63 |
$23,131 |
82% |
| $155,000-169,999 |
61 |
$21,775 |
87% |
| $170,000 and above |
131 |
$15,341 |
38% |
| Totals |
1,079 |
$34,435 |
80% |
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| NOTE: The
total award amounts above are averages. Many factors
other than income are considered in the evaluation
of financial need; therefore, individual awards can
vary significantly. |
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| Comparing
Penn's Cost |
When comparing
schools and their actual costs, it is important to
compare financial aid as well as the sticker price.
Penn's comprehensive financial assistance program
meets 100% of financial need and when combined with
Penn's "No Loans" policy, can effectively
reduce the actual cost to less than that of schools
with lower tuition.
For example, if you feel you
can afford a public college priced at $20,000, you
may just as easily be able to afford Penn. As illustrated,
the financial aid package offered by Penn may effectively
cover the price difference between a college of moderate
cost and Penn. Note that the out-of-pocket cost
to the family, when including student loan debt,
is lower at Penn. |
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| This is an
example. Family contributions range from $0 to over
$50,000, depending on each family’s circumstances. |
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