University of Pennsylvania

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To this end, Penn does not consider an applicant's aid status in making admissions decisions, meets the full need of all admitted and enrolled students, and does not include student loans in meeting dependent students' needs.

Penn has a strong commitment to awarding aid only on the basis of financial need, and awards no academic or athletic scholarships. Penn expects each student's family to contribute according to their financial circumstances; expected contributions, based on a comprehensive review of each application, range from $0 to the full cost of education.

Because family situations can often change significantly from year to year, Penn normally re-determines a student's expected family contribution each year. For that reason, QuestBridge students will generally be considered for a four-year Match Scholarship only in those cases where the expected parent contribution is less than $500, and it appears unlikely that it will change over time. As a general rule, the only change in a Match Scholar's expected contribution over their four years will be an annual increase (no more than $100) in the Federal Work-Study component.

For students who are not admitted through the National College Match, be assured that Penn is need-blind for citizens and permanent residents of the United States, Canada and Mexico, and guarantees to meet the full demonstrated need of all admitted students without loan, whether or not they are selected for a Match Scholarship.

• Penn is one of very few universities in the country that does not include loans as a part of students' financial aid awards. All dependent undergraduate students eligible for financial aid will receive loan-free aid packages, regardless of income.
• About 80% of Penn freshmen who applied for financial aid last year received need-based assistance. Learn more.
• Learn more about Paying for a Penn Education.

Scholarship Details for a Typical Matched Student
These numbers are based on costs for the 2011-2012 school year. Amounts will change slightly from year to year, but as the cost of college increases, the scholarship packages will correspondingly increase.

Glossary of terms appearing in scholarship package details

Travel
A travel allowance will be added to the budget, and covered with grant, for students who live at home with their family, or for residential students who live on or off-campus and whose home is a considerable distance from Penn. This allowance approximates the lowest fares of two round trips a year.

Outside Scholarships
Outside scholarships will first be used to reduce or eliminate the Federal Work-Study award. Any amount remaining may be used to cover documented personal computer-related expenses, up to $1,500, and housing costs in excess of the standard budget allowance. Scholarships in excess of these amounts will be used to reduce the Penn grant dollar for dollar.

Health Insurance
If a QuestBridge Match Scholar is required to purchase health insurance through Penn, Penn will cover the cost with additional grant.

Other Details
Typically, students are expected to contribute 5% of their personal savings/investments toward their annual college expenses. This will decrease the amount of the Penn grant, dollar for dollar. However, for high need students (like those Matched with Penn), Penn adjusts the expected savings contribution to reflect the family's financial situation.

Financial aid is available for students who elect to attend summer sessions. Summer aid packages, however, generally include student loan.

While loans are not included in meeting students' needs, students do have the option of borrowing in lieu of any summer savings contribution, in place of their Work-Study award, or to cover housing costs in excess of the standard room allowance.