<p>In general, how stingy is Penn with money? </p>
<p>I'm in state, and family income=165k</p>
<p>thanks</p>
<p>They have one of the most generous financial aid programs in the country, behind only HYP. If you make less than $90k, you attend for free.</p>
<p>edit on what was said, under 90k you get free tuition, but a little still needs to be paid. My family makes way below 90k and we have to pay 4.8k </p>
<p>despite this, the financial aid is very generous 
and no loans!</p>
<p>my family got hammered. My household income was 150k last year and the school gave me 4k grant to offset the 53k.</p>
<p>I was about to comment, also. My family makes under $90k, and tuition is not free. My EFC is about $9000 plus a $2500 student contribution. We are currently getting it reevaluated, however.</p>
<p>Also it makes no difference that you’re in-state.</p>
<p>Okay… so 165k family income won’t get me much scholarship? Darn…</p>
<p>Penn gives need based financial aid, but no talent based merit money.</p>
<p>^Thanks, I’m aware.</p>
<p>It seems as though last year Harvard, Columbia and Yale went up to $180K for that 10 percent of income deal. I don’t know whether that continued or not.</p>
<p>
</p>
<p>Extremely dubious claim that also fails to reflect the actual size of gaps between colleges.</p>
<p>If my family was to make 65ish-k a year, would EFC most likely be under 10k?</p>
<p>Also, do they take into account assets? My dad is self-employed, and we used to be fairly well off, so we have a high value home, but the economy took a pretty big toll on income.
(I’m a hopeful junior btw)</p>
<p>^If you go to collegeboard’s website, they have a EFC calculator</p>
<p>Not sure how good it is, but it should give you a general idea</p>
<p>They consider assets but don’t really consider liabilities. Tell your dad to sell the house and buy a ferrari. Ferraris don’t go on finaid, homes do.</p>
<p>Do they consider mortgages? My parents have a 300k on the house (mortgage). Will Penn give me more money since my rents salary go to the mortgage?</p>
<p>Debt is a personal choice, so more debt does not equal more aid.</p>
<p>MD Mom, that statement is so deeply flawed I don’t know where to begin.</p>
<p>Sure blame a woman for taking out thousands to divorce a violent husband.
Sure blame a family for incurring high medical expenses
Sure hold it against the family that the parents took out enormous loans to get their educations
Sure blame the family for buying a house in a good neighborhood so the kids don’t grow up to be hoodlums</p>
<p>It’s all personal choice. Should have taken the beatings, sent your kids to a drug-infested school, let your father die of cancer and worked minimum wage, not having an education.</p>
<p>You’re sick. Really sick.</p>
<p>The income (although inflated form an inheritance) for my family was 110k and I got 30k in penn grants…so yeah, pretty good aid I suppose</p>
<p>my income is 14k, and penn gave me 30k in grant. I wouldnt say thats really good at all. Hence why I am not going.</p>
<p>Sorry to offend you necrophiliac; that was not my intent. But that is a quote from a financial aid presentation I attended. </p>
<p>There are always exceptions and that is what appeals are for. </p>
<p>Debt is usually a choice, obviously not always. Look around at people who live in the big houses, drive new cars all the time and have high credit card balances. Those are the choices I am referring to. The post just before mine was asking about a $300K mortgage, which is the kind of debt I was referencing. If you look around the financial aid forums, you will see several people make the same comment about debt.</p>