Penn uses all of the financial information that you and your family submit on the FAFSA, CSS Profile, and any supporting documents (tax returns, etc.) to determine your Expected Family Contribution (EFC). Penn then compares your EFC to your cost of attendance, which represents the full cost of attending Penn for a year. Your financial need is the difference between your cost of attendance and your EFC. Penn meets your full demonstrated financial need with grant funding and work-study.
Articles in this section
- How do I apply for financial aid?
- How do I submit financial aid documents?
- When will I learn how much financial aid I am receiving?
- How can I learn how much aid I might receive?
- My financial aid forms were submitted after the deadline. Does that mean I will not receive financial aid?
- Does Penn consider my ability to pay when making admissions decisions?
- What does Penn mean by grant-based aid? Does this mean I will never take out a loan?
- Does Penn award merit aid or merit scholarships?
- How does Penn determine my financial need?
- Will the amount of financial aid I receive increase every year in relation to the increase of tuition prices?