Penn Merit Aid

Families who need to understand that Penn is a true zero-merit Ivy. Unlike some selective schools with a handful of named exceptions, Penn awards literally 0% non-need institutional merit aid per the CDS — across all four undergraduate schools (College, Engineering, Wharton, Nursing). If your household income is under $200,000, the Quaker Commitment guarantees at minimum full tuition coverage.

Tuition / cost of attendance: Approximately $95,612 for 2025-2026. Tuition $63,204, fees $8,032, housing $13,132, food $6,744, books and supplies $1,412, transportation $1,080, personal $2,008. On-campus budget. 2026-2027 COA not yet published. Source

Outside scholarships first replace summer savings, then work-study. Once those are exhausted, they reduce the Penn Grant dollar-for-dollar. Outside awards cannot reduce the parent contribution.

Outside scholarships first reduce the summer savings expectation, then work-study. Once self-help components are exhausted, additional outside scholarships reduce the Penn Grant dollar-for-dollar. Outside scholarships cannot reduce the Parent Contribution. Home equity is excluded from the Penn need calculation.

Source

From the Penn Common Data Set 2024-2025:

Source: Common Data Set

1. Assuming high test scores will earn a merit scholarship at Penn or Wharton.+

   Penn awards zero merit scholarships. The CDS confirms 0% of freshmen without financial need received institutional merit aid. This applies across all four undergraduate schools including Wharton. No Wharton merit scholarship exists.

2. Not filing both FAFSA and CSS Profile because the family thinks they earn too much.+

   Penn uses its own institutional methodology. The Quaker Commitment guarantees full tuition for families earning up to $200,000, and home equity is excluded. Both biological parents must provide information even if divorced or separated.

• Does Penn offer merit scholarships?

  No. Penn is a true zero-merit Ivy — the CDS confirms 0% of freshmen received non-need institutional merit aid. There are no academic, athletic, or talent-based merit scholarships across any of Penn's four undergraduate schools.

• What is the Quaker Commitment?

  The Quaker Commitment (expanded 2025-2026) guarantees: full coverage of tuition, fees, housing, and dining for families earning up to $75,000; full tuition for families earning up to $200,000. Penn meets 100% of demonstrated need with all-grant aid (no loans since 2008). 45.4% of undergraduates receive financial aid. Requires FAFSA and CSS Profile.

• How does Penn handle outside scholarships?

  Outside scholarships first reduce summer savings and work-study. Once self-help is exhausted, they reduce the Penn Grant dollar-for-dollar. Outside awards cannot reduce the parent contribution.