Outside-Scholarships
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Reporting Outside Scholarships
Students are required to promptly report any outside scholarships, grants, or other external funding they receive, as these may impact their financial aid package. To ensure proper processing and compliance with federal and institutional policies, all outside scholarships must be reported to the Office of Financial Aid as soon as they are awarded. Students can report these scholarships by submitting the necessary documentation via email or mail. Timely reporting allows the university to accurately adjust financial aid packages, preventing potential over-awards and ensuring that funds are allocated appropriately.
All outside scholarship must be reported by email to outschol@pobox.upenn.edu. When reporting an outside scholarship please include; students legal name, Penn ID, Outside scholarship organization/sponsor, name and email point of contact for the organization/sponsor, and attach the scholarship letter. If necessary, physical copies of the scholarship letter may be mailed to the Outside Scholarship Office at the address listed below.
University of Pennsylvania
Student Financial Services
Outside Scholarship Office
Franklin Building, room 100
3451 Walnut Street
Philadelphia, PA 19104
Undergraduate Policy
Penn is committed to meeting 100% of your demonstrated financial need through its financial aid program. If you receive an outside scholarship, your financial aid package may be adjusted to account for this additional funding.
Outside scholarship funds will first, if applicable, reduce or eliminate the “Summer Savings” component of your financial aid package. The “Summer Savings” component is typically reflected in your Student Contribution. If additional adjustments are necessary and applicable, the scholarship will then be used to reduce or eliminate your Work-Study/Penn Job component of your financial aid package.
If the total amount of your outside scholarships exceeds the combined value of your Summer Savings expectation and Work-Study/Penn-Job allotment, or these components are not applicable to you, any remaining funds will replace an equivalent amount of university need-based funding such as the Penn Grant or Institutional/Endowed Scholarship aid.
Please note that outside scholarships cannot be used to reduce your Parent Contribution.
To ensure accurate adjustments, promptly report any scholarships or grants you receive from external sources. Please refer to the section “Reporting Outside Scholarships” for more information.
Graduate & Professional Policy
The total amount of all financial aid, including but not limited to scholarships, third party billing sponsorship and loans, cannot exceed the established cost of attendance. Students may not accept multiple awards that provide duplicate coverage for tuition, fees, or other educational expenses.
The examples below demonstrate the impact of an outside scholarship on a financial aid package for undergraduate students. In all of examples the Parent Contribution is $7,000 and the Student Contribution (Summer Savings) is $3,000 for a total Expected Family Contribution of $10,000. The student also has a work-study allotment of $4,000 (work-study is a need-based fund). Lastly, the student has a Cost of Attendance budget of $89,028. For more information on how aid is impacted by the Cost of Attendance please visit here.
The student has a Cost of Attendance budget of $89,028. The student does not have an Outside scholarship, they do have a full Summer Savings expectation of $3,000, which also serves as the total Student Contribution, along with a Work-Study allotment of $4,000. The total Need-based financial aid amount is $79,028
The student has a Cost of Attendance budget of $89,028. The student receives an Outside scholarship of $4,000. This scholarship fully eliminates the “Summer Savings” expectation (Student Contribution) of $3,000 and reduces the Work-Study allotment from $4,000 to $3,000. As a result, with Outside scholarship added, the total Need-based financial aid increases to $82,028.
The student has a Cost of Attendance budget of $89,028. The student receives an Outside scholarship of $10,000. As a result, the scholarship fully eliminates the “Summer Savings” expectation (Student Contribution) of $3,000 and the Work-Study allotment of $3,000 and also reduces the Grant-based financial aid funding by $3,000 to $72,028. Although the Grant-based financial aid funding is reduced the overall need- based funding remains at $82,028.
