University of Pennsylvania

University of Pennsylvania Financial Aid

Students who are applying for financial aid at Penn need to submit both the Free Application for Federal Student Aid (or FAFSA), as well as the CSS Profile.

The FAFSA uses financial information from the prior, prior year which means that you don’t need to wait for the year to end and can use last year’s financial information.

The FAFSA code for Penn is 003378 and the CSS Profile Code is 2933.

It should be noted that while the FAFSA is free, the CSS Profile does require an application fee. However, students can qualify for a CSS Profile application fee waiver if the cost will present a financial hardship for the students’ family.

If you are looking for more information on how to complete the FAFSA or the CSS Profile, check out these resources:

• How to Complete the FAFSA
• How to Complete the CSS Profile

Using State Grants at Penn

Pennsylvania residents considering Penn should be sure to look at Pennsylvania state grant programs. Two of the biggest educational grant programs in PA are PHEAA and TIP. PHEAA offers funding for Pennsylvania students who are enrolled at least half-time in an institution and program approved by PHEAA. Students must meet certain academic and financial criteria in order to qualify. TIP, also known as PA-TIP, offers funding to students pursuing a degree in a field that the state designates as high-demand. Here are those fields in 2024:

• Energy
• Health
• Advanced Materials and Diversified Manufacturing
• Agriculture and Food Production

University of Pennsylvania QuestBridge Scholarships

Penn is a member of QuestBridge, which is a prestigious scholarship program that supports high-achieving students from low-income backgrounds. Students who are “matched” to University of Pennsylvania through QuestBridge receive a four year, full ride scholarship to the school. If you are interested in learning more about QuestBridge, you can check out our QuestBridge Scholarship guide.

University of Pennsylvania’s 100% Need-Met Guarantee

Penn has committed to meeting 100% of applicants’ financial needs. They determine your financial need using the FAFSA and/or CSS Profile, and will ensure that your financial aid package covers any costs you cannot pay.

No Loan Policy at Penn

Penn is a no-loan school, which means that their financial aid packages offer students grants and scholarships in place of the federal loans that are typically part of a package. This means that their financial aid is more generous than most, and they help bridge the gap between cost and student need. Some no-loan schools offer this policy for all accepted students while others only extend it to students below a specific income level, or to in-state students. Be sure to check Penn's website for details on their No-Loan policy.

Pell Grants at University of Pennsylvania

18% of students at University of Pennsylvania receive Pell Grants, which are awarded to undergraduate students with demonstrated financial need (students who have a bachelor’s or professional degree are not eligible). Pell Grants are awarded by the federal government and do not need to be repaid. To apply for a Pell Grant, students will need to submit their FAFSA. If you are awarded a Pell Grant, you’ll see it listed in your financial aid award letter if you are accepted to University of Pennsylvania.

You can learn more about Pell Grant eligibility here.

Outside Scholarships

Penn students can also apply for outside scholarships to fund their education. Outside scholarships are awards that are offered by private and non-profit organizations. If you want to see what outside scholarships you are eligible for, check out these resources:

• Top scholarships for high school seniors
• Top scholarships for college students
• Scholarship database

1520 is the median SAT score and 34 is the median ACT score for admitted students at Penn. A score that is close to this median value indicates that you have a good chance of admission to the institution. However, it’s important to remember that colleges judge applications holistically. If the rest of your application is strong, it’s possible to make up for lower test scores.

Coalition Colleges

Penn is a Coalition Member College, which means they have completed a vigorous vetting process from the Coalition for College to ensure that they “provide substantial support to lower-income, under-resourced and/or first-generation students; offer responsible student financial aid; and demonstrate a commitment to student graduation.” That also means you can apply to Penn via the Coalition Application. The Coalition Application makes it easy to obtain application fee waivers if you qualify. It’s also a great way to discover other colleges that have demonstrated a strong commitment to affordability and strong student outcomes.

Does Penn have a supplemental essay?

Yes, applicants to University of Pennsylvania will have to write a supplemental essay in order to complete their application. Luckily, we have a guide to help you through that essay prompt and stand out in the application process.

Is Penn test-optional?

University of Pennsylvania is test-optional, which means that it does not require applicants to submit their SAT or ACT scores. That means that some students will submit their test scores and others will not. If you choose not to submit your ACT or SAT score, the admissions officers will weigh your grades, extracurricular activities, essays, and interviews more heavily. If you are not sure whether you should submit your standardized test scores, our guide on submitting scores to test-optional schools can help.

What SAT/ACT score do you need to get into University of Pennsylvania?

Colleges use standardized tests like the SAT and ACT as one of many factors to determine their admissions decisions. A high score on one of these tests does not guarantee admission to a college, and a low score does not guarantee rejection. However, the majority of accepted applicants to University of Pennsylvania receive between a 34 and a 35 on their ACT, or a 1480 and a 1575 on their SAT.

What is the application deadline at Penn?

Students must apply by January 5 to enroll at Penn during the fall semester. Remember that college applications involve many pieces, including essays, a transcript, letters of recommendation, and more. Be sure to start your application as soon as you can to make sure you have enough time to make it as compelling as possible.

At Penn students also have the opportunity to apply Early Decision. In order to take advantage of this option, you’ll have to have your application in by November 1.

Should I apply Regular or Early Decision to Penn?

Applying to Penn with Early Decision can be a great decision if you are 100% sure you want to go there. You’ll find out your admissions decision earlier than other students, and some data shows that you may help your admissions chances. However, you should keep in mind that Early Decision is binding. If you do get into the school, you won’t be able to change your mind later. If there is any doubt in your mind, you should apply Early Action or Regular Decision instead.

Read more: All you need to know about Early Action vs Early Decision

Is University of Pennsylvania need-blind?

Yes, University of Pennsylvania has need-blind admissions, which means they do not take financial need into account when they decide who to accept. If your FAFSA and/or CSS Profile indicate that you would need substantial financial aid, you will still be on equal footing with applicants who do not require any aid at all.

What is the graduation rate at University of Pennsylvania?

96% of students who start at University of Pennsylvania end up finishing their degree within six years of enrolling. This is 38% more than the national median. A higher graduation rate indicates that students have better experiences at an institution.

How much do graduates of University of Pennsylvania go on to earn?

10 years after starting school at University of Pennsylvania, the median earnings among students who received federal financial aid was $111,371. This is $60,980 more than the national median.

Earnings can vary widely based on many factors other than school choice. Your major and career path can cause substantial changes in your income down the line. For more information, check out our article on the average starting salary out of college.

How much do students at Penn take out in loans?

Graduates of Penn have to take out a median of $15,715 in federal student loans. This is $2,215 more than the national median. As you make decisions about your college loans, it’s important to inform yourself on the advantages and disadvantages of each loan option. Our guide to navigating these different options is a great place to start.