<p>Hello,</p>
<p>I recently received an email discussing Penn's Mayor's Scholarship for Philadelphia residents. (The</a> Mayors Scholarship Program).</p>
<p>However, I am confused about what exactly the scholarship IS. It says that, "Like other Penn students who receive financial aid, Mayor's Scholars receive an aid package that meets 100% of their financial need," so what is the difference between normal Penn fin aid and the aid for Mayor's Scholars?</p>
<p>Thank you.</p>
<p>I didn’t get an email(because I’m not a PA resident) but I’m confused too. I was under the impression that the normal penn fin aid would be 100% financial need without loans.</p>
<p>unless I assumed wrong and the reg fin aid does include loans? if that’s true… that sucks -__-"</p>
<p>@neorobie, if you go to Penn’s website and use their financial aid calculator you will see that they don’t include any loans. Their financial aid consists of all grants and some work-study. They are entirely no loan which is awesome.</p>
<p>=D hurrah!</p>
<p>Yes. One of the reasons why Penn gets so many great students from its home region is that – although everyone is meeting 100% of need – Penn usually has a meaningfully better offer for local students thanks to the Mayor’s Scholarship program.</p>
<p>I believe, correct me if I am wrong, that the program is ran through the Mayor so the city can help the University, thereby helping itself. The city does it to keep some of its talent at home, so maybe Penn admits more Philadelphia residents because it doesn’t have to pay the financial aid from its endowment. Whatever the case, I’m ecstatic, I got the mayor’s scholarship at an amount greater than the tuition because I am living on campus! Can’t wait!</p>
<p>Congrats on the mayor’s scholarship! I got it, too, and I only have to pay for room and board (not including the work-study they offered me). :)</p>
<p>But actually, RWxGiroux28, Penn does pay for the Mayor’s Scholars, although the city does choose who gets the scholarship. They offer it in exchange for a land purchase they made a while ago from the city (now I think its where CHOP/a bunch of research buildings are). Plus, the majority of Philly students that go to Penn aren’t Mayor’s Scholars (I think, since there are only 30 per year).</p>
<p>I guess the answer to my original question is that the scholarship is just especially generous, even more so than Penn’s financial packages normally are.</p>