Here, you’ll discover the details you need to understand the UPENN Tuition and many financial aid options, including university scholarships, grants, loans, and work-study. Read through!
Tuition and Cost
The cost of attendance provides an estimate of the price for a complete academic year at Penn.
It covers both direct costs—those that are included in your student bill, such tuition, fees, lodging, and meals—and indirect costs, those that you must pay on your own, including the cost of books and supplies, travel expenses, and a personal spending budget.
Each academic year, students should plan their budget based on their cost of attendance. Penn also considered the cost of attendance when determining a student’s eligibility for financial aid.
Penn listed three expenses of attendance for undergraduate institutions.
The first one applies to students who live on campus with a meal plan, the second to those who live off campus in a structure that is not connected to the university, and the third to those who live at home with their families, take classes online, or commute to campus.
UPENN Tuition Student Budget
| Living On Campus | Living Off Campus | Living With Family | |
|---|---|---|---|
| Tuition | $56,212* | $56,212* | $56,212* |
| Fees | $7,240* | $7,240* | $7,240* |
| Housing | $11,754* | $10,054 | $0 |
| Food | $6,134* | $5,230 | $2,088 |
| Books and Supplies | $1,358 | $1,358 | $1,358 |
| Transportation | $1,036 | $1,036 | $1,656 |
| Personal Expenses | $2,004 | $2,004 | $2,004 |
| Total Budget | $85,738 | $83,134 | $70,558 |
UPENN Tuition Financial Aid
Penn is dedicated to providing all of our students with an affordable and accessible education. Students employ a variety of methods to pay for their education, including loans, assistantships, private scholarships, and Penn scholarships.
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UPENN Tuition Loan
Borrowings from federal loans can pay for living costs, tuition, and other obligations. The Direct Unsubsidized Loan, which is disbursed in increments of $20,500 each calendar year, does not subject applicants to a credit evaluation.
Most Penn GSE students use private loans, federal direct loans, or both to pay for their education. You must submit the Free Application for Federal Student Aid in order to be evaluated for these loans (FAFSA).
The institutional code for the University of Pennsylvania is 003378.
The U.S. Department of Education provides Federal Direct Loans to students who are citizens or lawful permanent residents of the United States.
The Direct Loan is a federal student loan with a low interest rate that accrues interest while they still enrol the borrower in school. It might be utilized to swap out pupils’ and Parents’ contribution.
UPENN Tuition Work Study
The Department of Education subsidizes students’ earnings at on-campus occupations as part of the need-based aid program known as Federal Work-Study. If work-study money is not earned through student employment, they do not recognize it.
Work-Study is not always given out since many students would rather get a greater return up front than work throughout the year. Work-Study substitutes student loan eligibility dollar for dollar.
Most domestic students are qualified to work on campus, whether they receive federal work-study money.
They list jobs in July for the upcoming autumn semester. Upon matriculation, email finaid@gse.upenn.edu if you want to be considered for federal work-study.
UPENN Tuition Scholarship
The quality of your application shows that you are deserving of every scholarship. The prizes are given out when academic divisions assess applications, and they are based on how well-qualified academically each applicant is for admission.
Awards are mentioned in the acceptance letter at the time of admission. Scholarships have no service requirements and are not taxed. The only semesters in which they award equitably scholarships are the autumn and spring.
Need-based scholarships can be paired with other prizes they evaluate separately up to the cost of tuition and from merit-based scholarships. Need-based scholarships will cover a portion of the cost of tuition.
At the time of application, they will evaluate candidates for need-based scholarships, and if qualified, will be notified at the time of admission in their decision letter.
Can you Get a Full Ride to UPenn?
Like other Ivy League institutions, Penn bases all of its financial aid on need. The University does not give scholarships based on performance in sports or the classroom.
They commit Penn to providing grant-based aid to cover your entire showed need for eight academic semesters.
Does UPenn Give Free Tuition?
Financial assistance packages that include tuition, fees, housing, and board are provided to students whose families make less than $65,500 per year (and have normal assets). They are qualified for cash for summer opportunities and laptop assistance.
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Is Penn University Expensive?
The Philadelphia Business Journal reported that the University of Pennsylvania had one of the biggest increases in tuition prices statewide since the outbreak.
The Penn Board of Trustees decided in March of last year to raise tuition by 2.9% to $81,340 from $79,014 for the 2023–2023 academic year.
We hope this article has helped you better understand how to take advantage of the many forms of financial aid that UPENN offers to lower the cost of your tuition.