International Student Financial Aid
An overview of financial aid options for eligible international undergraduate students, including important tax information.
Financial aid resources for international undergraduate students are limited, and Penn practices need-aware admissions for students who are not citizens or permanent residents of the U.S., Canada, or Mexico. International students who wish to apply for institutional need-based financial aid must do so at the same time they apply for admission to Penn. International students who are not admitted with financial aid in their first year are not eligible to apply for financial aid at a later point in their undergraduate program.
That said, Penn’s grant-based financial aid policy fully applies to admitted international students, and Penn commits to meet 100% of their demonstrated need with grant funds and work-study, just like any other undergraduate student. The University provides over $10 million each year in financial aid to students who are not citizens or permanent residents of the United States, Canada, or Mexico.
Because international students are generally not eligible for federal funding, any financial aid received will be in the form of institutional funding. This includes grant funds and work-study. International students interested in pursuing a loan should speak to a financial aid counselor and will likely need to identify a U.S. co-signer.
As an international student, please keep in mind that a portion of any grant funding you receive from Penn may be subject to U.S. taxes. You will see a charge on your student account indicating any taxes Penn has paid on your behalf. Note that these taxes cannot be covered by additional grant funding from Penn. You may be able to recoup some of this funding by filing an annual tax return. For more information about international students and U.S. taxes, click here.
We strongly encourage international students to open a U.S. bank account while studying at Penn. There are multiple bank options near Penn's campus that you can visit to open an account. You can also access resources from Financial Wellness @ Penn to provide a broad overview of U.S. banking.