Facts and Figures
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Penn meets 100% of demonstrated financial need with grants and work-study funding.
44.5% of undergraduate students received need-based financial aid in 2022-2023, with an average package of $63,265--more than the cost of tuition.
Students with family incomes less than $75,000 (and typical assets) receive financial aid packages that cover tuition, fees, room, and board. They are also eligible for additional benefits like laptop funding and summer opportunity funds.
Students with family incomes between $75,000 and $140,000 (and typical assets) receive financial aid packages that cover at least tuition.
Students with family incomes greater than $140,000 who are eligible for aid receive average aid packages that are greater than half of tuition.
Only 22% of students receiving need-based aid took out loans to supplement their aid packages in 2022-2023, compared to 80% of students in 2004.
Holding the dollar value constant, the average net cost to aided first-year students has decreased 32.2% since 2005.