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.

A presidential commitment

Since Amy Gutmann became Penn President in 2004, the University has awarded more than $2 billion in undergraduate aid to more than 22,000 students.

Average aid packages

46% of undergraduate students received grant-based financial aid in 2018-2019, with an average package of $54,301.

Aid across income levels

Students with family incomes less than $65,500 (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 $65,500 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 27% of students receiving need-based aid took out loans to supplement their aid packages in 2018-2019, compared to 80% of students in 2004.

Reducing net cost

Holding the dollar value constant, the average net cost to aided first-year students has decreased 23.2% since 2005.