The Quaker Commitment

Penn’s newest undergraduate financial aid policies are designed to lower costs for middle-income families, building on recent initiatives to support lower-income students.

In response to the increasing financial needs of students from middle-income families, Penn is announcing The Quaker Commitment, a series of new financial aid policies effective for the 2025-2026 academic year, specifically designed to enhance the financial aid packages of middle-income students.

Home Equity No Longer Considered

Effective for the 2025-2026 academic year, Penn will no longer factor a family’s primary home equity into our financial aid eligibility assessment. Penn is now one of just a handful of schools that has completely eliminated home equity from its calculation

These policies apply to families with typical assets.

Full Tuition Scholarships for Incomes Up to $200,000

Also effective for the 2025-2026 academic year, Penn will guarantee a financial aid package that covers at minimum tuition with grants and work-study for students from families that make up to $200,000 with typical assets. The previous guarantee was capped at $140,000.

These policies apply to families with typical assets.

The Quaker Commitment

The Quaker Commitment summarizes our undergraduate financial aid program’s existing and new policies in four simple statements:

Your financial aid package will meet 100% of your demonstrated need with no loans.
The value of your primary family home will not impact your financial aid eligibility.
If you make up to $200,000 with typical assets, your financial aid package is guaranteed to cover at minimum full tuition (and often more).
If you make under $75,000 with typical assets, your financial aid package is guaranteed to cover all billed expenses (tuition and fees, housing, and dining) and you will receive additional resources to ensure your equal access to opportunities on campus.

These policies apply to families with typical assets

Determining Typical Assets:

You may not qualify for the Quaker Commitment if any of the following apply to your financial situation:

Are you currently self-employed or working as an independent contractor, and do you file a Schedule C with your tax return?
Do you own or operate a business or farm, and do you file any of the following tax forms: 1065 (Partnership), 1120 (Corporation), or 1120S (S Corporation)?
Do you own any real estate in addition to your primary residence? This could include rental properties, vacation homes, land, or commercial property.
Do you have a substantial amount of liquid assets, such as cash, savings, or investment accounts (e.g., stocks, bonds, mutual funds) or a trust?

How do I apply for the Quaker Commitment?

Just complete your financial aid application as usual based on our financial aid checklists. The financial information you submit is all we need to determine your eligibility for financial aid. There is not a separate application for the Quaker Commitment. Eligibility is reviewed annually.