Facts and Figures
Penn meets 100% of demonstrated financial need with grants and work-study funding.
Since Amy Gutmann became Penn President in 2004, the University has awarded more than $2 billion in undergraduate aid to more than 19,000 students.
45% of undergraduate students received grant-based financial aid in 2018-2019, with an average package of $53,943.
Students with family incomes less than $65,500 and typical assets receive financial aid packages that cover tuition, fees, room, and board.
Students with family incomes between $65,500 and $130,000 receive average aid packages that are greater than tuition.
Students with family incomes greater than $200,000 who are eligible for aid receive average aid packages that are greater than half of tuition.
Only 28% of students receiving need-based aid took out loans to supplement their aid packages in 2018-2019, compared to 80% of students in 2004.
Holding the dollar value constant, the average net cost to aided first-year students has decreased 21.7% since 2005.