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A Look at the Facts

 
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:
 
For 2007-2008, Penn is committing over $88 million of its resources for grant aid to undergraduate students
Almost 55% of Penn undergraduates receive some form of financial assistance
Nearly 38% of Penn undergraduates are awarded need-based grant aid
Approximately 72% of the freshmen who applied for financial aid for the
2007-2008 academic year received a need-based award
The average financial aid award for incoming aided freshmen in 2007 was $31,595 (combination of grant, loan, and work study)
 
Aided Freshmen by Family Income
Class of 2011 (entering September 2007)
 
Income Number of Aided Students Average Total
Awards
Percent of Applicants
Offered Aid
$1 - 19,999 78 $44,874 98%
$20,000 - 29,999 67 $42,149 97%
$30,000 - 39,999 77 $37,947 92%
$40,000 - 49,999 62 $40,023 95%
$50,000 - 59,999 58 $35,932 95%
$60,000 - 69,999 63 $35,739 93%
$70,000 - 79,999 63 $34,025 97%
$80,000 - 89,999 56 $31,597 95%
$90,000 and above 379 $22,168 60%
  903 $31,595 72%
 
NOTE: The total award amounts above are averages. Many factors other than income are considered in the evaluation of financial need; therefore, individual awards may vary significantly.
 
Comparing Penn's Cost

The cost of a college is a key factor in determining eligibility for need-based financial aid. When comparing schools and their costs, it is also important to compare financial aid programs.

Comprehensive financial assistance programs, like Penn's, can effectively lower the sticker price, and sometimes make the cost lower than that of a less expensive institution. For example, if you can afford a college that costs $19,000, you may just as easily 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 is identical at each institution.

 
  Penn College X
Educational Expense Budget $49,080 $19,000
Expected Family Contribution - 12,000 - 12,000
Financial Aid Package $37,080 $ 7,000
 
As illustrated, Penn meets the full need of $37,080 which covers the difference in the cost of the schools.
Paying for a Penn Education Index
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