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Wharton MBA Federal Direct Unsubsidized Loan
The Federal Direct Unsubsidized Loan is not based on financial need and is unsubsidized, meaning that interest accrues during your period of enrollment. This loan is available to U.S. citizens and eligible non-citizens, who are enrolled at least half-time. View a sample borrowing of this loan below.
| Academic Year | Maximum Unsubsidized * | FAFSA Required for borrowing | Requirements for Loan Disbursement |
| 2024-25 | $20,500 | 2024-25 FAFSA | |
| 2025-26 | $20,500 | 2025-26 FAFSA |
*the chart above represents possible maximum borrowing of the unsubsidized direct loan per academic year. While it is likely students will qualify for the maximum amount, additional terms and conditions may apply, including but not limited to aggerate federal loan limits, default, prior borrowing history, etc*
Visit here to view additional information on applying for and accepting these loans.
Wharton MBA Federal Direct Graduate PLUS Loan
If you need funding beyond the Direct Loan, and wish to borrow federal funds, you may consider a Direct Grad PLUS Loan. These loans are credit based. You may borrow up to your remaining Cost of Attendance less scholarships, fellowships, and other financial resources (including but not limited to other loans, sponsor payments, outside scholarship, etc.) Remove any credit freezes before acting on the Graduate PLUS Loan via Path @ Penn.
Students must complete the Graduate PLUS Master Promissory if approved for the loan.
Visit here to view additional information on applying for and accepting these loans.
Students may choose to decline the Graduate PLUS Loan to borrow alternative loan funding. The Graduate PLUS Loan must be declined in Path @ Penn, before any alternative loan will be certified.
Wharton Alternative Student Loans
Private alternative loans are not subsidized, and generally have higher interest rates and fees, both based on your credit score. In addition, cosigners may be required. Penn encourages U.S. citizens and permanent residents to first consider the Federal Direct and Federal Direct PLUS loan programs when they need to borrow.
ELM Select provides an unbiased comparison of loan products. Students can compare interest rates, repayment terms and more here. Select “Wharton MBA, University of Pennsylvania” then compare loan providers. Note that this is not an exhaustive list of loan products available to students.
| Term Requesting Alternative Loan | Earliest you may apply |
| Fall 2025 – Spring 2026 | April 15, 2025 |
*Certification of Summer 2025 loans will begin in Mid-April 2025. Certification of Fall 2025 – Spring 2026 loans will begin in Mid-June 2025.
