Facts and Figures

Penn is committed to making undergraduate education affordable
Meeting full need

Penn meets 100% of demonstrated financial need with grants and work-study funding.

Average aid packages

46% of undergraduate students received need-based financial aid in 2023-2024, with an average package of $66,222--more than the cost of tuition. 

Aid across income levels

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.

Optimizing student debt

Only 19% of students receiving need-based aid took out loans to supplement their aid packages in 2023-2024, compared to 80% of students in 2003-2004.

Reducing net cost

Holding the dollar value constant, the average net cost to aided first-year students has decreased 32% since 2005.