Penn has expanded its financial aid program to support middle-income families, introducing a new initiative called the Quaker Commitment. This initiative aims to simplify the financial aid process and provide more support to students from middle-and-upper-middle-income backgrounds.

One significant change is that Penn will no longer consider primary home equity when evaluating financial aid eligibility. Additionally, families with an annual income of up to $200,000 (and typical assets) can now receive financial aid packages that cover at least full tuition. Previously, the income threshold for this guarantee was set at $140,000.

The Quaker Commitment builds on Penn’s existing commitment to low-income families through the Penn First Plus program. Together, these initiatives aim to ensure that financial need does not hinder a student’s ability to attend Penn. Starting with the 2025-2026 academic year, Penn will continue to meet 100% of demonstrated need with grants and work-study funds, ensuring no loans are part of the financial aid package.

• Penn will meet 100% of need. No loans. Financial aid packages will still cover 100% of demonstrated need with grants and work-study funds.
• Home equity not included. The value of your primary family home is not considered when determining aid eligibility.
• Grants that cover at least tuition. Families with incomes up to $200,000 will receive financial aid that covers at least tuition.
• Grants that cover main costs. Families with incomes up to $75,000 will receive financial aid that covers tuition, fees, housing, and dining.

These changes take effect immediately for students applying to Penn this year, making them eligible to benefit from these new financial aid policies right away.

For more detailed information and to learn how to apply for financial aid, visit the Penn Admissions Financial Aid page.

Stay connected with Penn through the Penn Perspectives blog for updates and more news from the University of Pennsylvania.

News is prepared from public university announcements for general guidance. Policies change frequently; confirm current details with each university admissions office.