<p>Hello! I am currently a junior living in Philadelphia and I have some concerns about applying to UPenn ED. I've read some threads on CC about applying but I haven't really found an answer to my question :/. My family's income is <50,000 and I reside in Philadelphia. I really want to go to UPenn for undergrad but the cost of tuition really scares me. </p>
<p>My parents told me to apply RD to be able to choose schools that gave me the most FinAid and go to the cheaper one. </p>
<p>My friends in college told me to just apply ED since UPenn gives need-based scholarships and if I do get in, I'll definitely be given the aid that I need. </p>
<p>My question is: does UPenn always give scholarships to those who need it? Was there ever a case where someone needed a scholarship but didn't get any grant/scholarship/etc and was binded by ED? I'm really scared of that happening when/if I apply ED. :/ </p>
<p>What are your thoughts? All opinions welcome and appreciated. Thanks in advance!</p>
<p>However, you should apply ED only to your by-far first choice school, when the only thing you want to know is: Can I afford it? Apply RD if you’re shopping for the best financial aid.</p>
<p>Thanks a bunch for replying! and the calculator really helped </p>
<p>I didn’t know it was possible to decline ED. I’ve heard from some of my friends that ED is binding and that if you cancel it, the university has the right to sue you. So it IS possible to decline ED if the financial aid offered is deemed insufficient?</p>
<p>Oh my gosh! Thanks a bunch for clearing it up for me! That statement (“if you cancel it, the university has the right to sue you”) has been haunting me for the past month or so. </p>
<p>Something you should consider…
Applying ED to UPenn shows them that UPenn is your number one choice and you would love to go there. In fact you have to go as long as you can afford it. This means that the school is guaranteed whatever money they do not give you in aid. So they will make you pay the most you possibly can without that number going over what you can afford (if you get accepted).</p>
<p>By applying Regular Decision, the school does not know whether it is your first choice or not, and they are not guaranteed any money from you because it is not a binding application. Therefore, the school might give you more (I do not know how much more, but I know it is more) in aid because it wants you to attend (if you get accepted, of course). By giving you more money, you are more likely to attend, and your attendance will make the college money. </p>
<p>So here is the tradeoff. Applying ED will give you better chances of getting in because it shows the school you are very interested and you have to pay them something no matter what. But you probably will not get as much in aid.</p>
<p>Applying RD will give you more financial aid, but you will be less likely to be admitted. Like I said the difference in aid between an accepted ED and an accepted RD UPenn applicant is unknown to me. But I do know that it is rather significant at other schools.</p>
<p>Good Luck with whatever you decide to do! </p>
<p>P.S. The previous posters are correct. It is illegal for you to be forced to attend a college that you cannot afford. But, as mentioned above, the school’s numbers have to show that, not yours. Also… schools like UPenn have lots of money to give out, so make sure you fill out the FAFSA on time!</p>
<p>One suggestion based on our experience…If you do decide to apply ED, and money is a major factor (as it was for our family) have your other applications ready to go. If I remember correctly, ED date was 11/1 and they notified you sometime in December. If the ED doesn’t go your way, or you are admitted and the FA either doesn’t meet your needs, or you want to appeal, you don’t have a whole lot of time to meet the 1/1 deadline that alot of other schools have.</p>
<p>@Latin: Thank you for your input on both RD and ED. Really helps a bunch!</p>
<p>@JoBenny: Thank you! I didn’t even consider or think about that time constraint. Thank you for the information, I’ll try to make a note some where so I won’t forget.</p>
<p>Do I for the FAFSA earlier if I decide to apply early decision or is the date that I apply for the FASFA the same whether I apply ED or RD? </p>
<p>Thanks everyone for offering your input! I love CC and I sure am glad I signed up for an account; I always just read the posts like a ghost <code>-</code>. My counselor hasn’t talked about FASFA or ED/RD things to my class AT ALL so I’m glad I’m finding out all these things now!</p>
<p>Whichever way you decide to apply, completing the fafsa as early as possible is the way to go for ED or RD. Some schools have limited funds and once the money is gone, it is gone. If they don’t have your fafsa, they can’t give you the funding.</p>
<p>Plus, many/most private non-profit schools “lose” money on every student, even full pay students; it’s made up by current contributions and endowment income. But you’d have to dig into the school’s published finances to find the actual numbers (look for Revenue and Expenditures).</p>
<p>@fogcity: I did not mean my statement in a way that meant that UPenn needed to fill members of it freshmen class. I meant that, if the school accepts you, UPenn will want you to go there over anywhere else.</p>
<p>@Wafflesx3: Just out of curiosity, is UPenn need-blind?</p>
<p>According to Penn’s website ([Financial</a> Aid at Penn - Penn Admissions](<a href=“http://www.admissions.upenn.edu/costs-financial-aid/financial-aid-at-penn]Financial”>Costs & Financial Aid | Penn Admissions)), 99% of applicants with income <$70,000 are offered aid, with $56,425 being the median award. At your income level, you will very likely receive a large financial aid package. I’d say there’s a good chance you can go for free or very close to free. Best of all, Penn only awards grants that you don’t have to pay back as opposed to loans. I would use Penn’s Net Price Calculator or even contact their Financial Aid department to get a good estimate of what kind of aid you would be receiving before committing to apply ED.</p>
<p>As a current student, I can pretty much guarantee you that Penn will be free for you at that income level. You shouldn’t have any financial reservations about applying ED to Penn.</p>
<p>I ran the NPC for Penn, and a bunch of other schools, and a major benefit with Penn is that they have NO loans for financial need, only grants (which do not need to be repaid). And we make a good bit more than what you list; doesn’t matter, the 30K we would get doesn’t have to be repaid.</p>
<p>I know Harvard specifically said “your family makes less than $60,000 per year, you can go for free” when we last checked.</p>
<p>And you are coming from Philly, so that may matter a lot. Penn tends to be very good to Philly students coming in.</p>
<p>If you live in Philadelphia itself, you’ll be a candidate for a Mayor’s Scholarship. Penn must give a certain number every year, so that may give you a boost. Google to read about this.</p>
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