<p>Say someone with an income of $20K< (Single parent) gets accepted ED, how would you guys speculate the aid package to be? Mostly loans or grants?</p>
<p>For students with family incomes below $60,000, Penn now has a policy of providing all grants--and no loans--to cover "100% of a student's demonstrated financial need," whatever that means.</p>
<p>It will be mostly grants (probably at least 40k free), but you might have to take a stafford loan, if your family owns a home or is in relatively stable financial condition despite your low annual income. And you'll definitely have an expected family contribution of ~3k and work study of ~2k.</p>
<p>More on the <$60,000 grant-instead-of-loan policy:</p>
<p>Yes I do have a home, crappy but a home nonetheless. </p>
<p>About how much would I have to get in loans then?</p>
<p>These numbers for those admitted in 2006 may be helpful, but remember that the amount of available grants is supposed to have increased for those admitted in 2007 and after:</p>
<p>Instead of seeking anecdotal information on the CC board to determine what specific aid you might get, you should probably contact Student Financial Services directly to discuss your particular circumstances, and hopefully get more direct (and authoritative) guidance as to what might be available for you:</p>
<p><a href="http://www.sfs.upenn.edu/contacts/index.htm%5B/url%5D">http://www.sfs.upenn.edu/contacts/index.htm</a></p>