Penn tuition will increase by 3.8% to $71,200
Penn FA budget will increase by 5.3% to $237million
*$71,200 is total cost of attendance, not just tuition
For reference, inflation was ~2.1% last year.
Families with no aid will suffer more…
Yes. Think the well-educated, upper middle class folks who are comfortable but far from rich are getting increasingly squeezed.
I don’t see how this can be sustainable in the long term.
How many years in a row has Penn increased 3.8% year over year?
Penn’s tuition and other cost of attendance rank almost the top of the ivies.
@f2000sa predictably, the tuition cost at HYP is lower than the rest because they rely less on tuition due to their huge endowments. Also Dartmouth’s endowment per student is significantly higher than the other non-HYP ivies so no wonder it comes in fourth. Penn has the second-highest cost of tuition + fees (and overall cost of attendance) after Columbia.
Tuition + fees only 2017-2018:
Columbia: $57,208
Penn: $53,534
Brown: $53,419
Cornell: $53,211
Dartmouth: $52,950
Yale: $51,400
Princeton: $50,220
Harvard: $48,949
As the parent of a Penn student (Wharton) who doesn’t receive any aid, but far from feeling comfortable while paying this tuition, I want to share a possibly unknown silver lining here w regards to tuition/graduation.
The graduation requirements aren’t super stringent so somehow through taking 5 courses a semester and getting courses that count for double triple etc my son is able to either graduate a semester early or only need two courses last semester senior year for which Penn lets you enroll as a part time student and only pay $5000k per class. He knows lots of other Wharton students doing this. He could have easily taken 5.5 - 6 courses a semester and graduated early.
So you may be able to get a break in the outrageous cost of tuition at Penn yet…
As a student accepted ED, does anyone (particularly underclassmen who experienced this in the past) know if my financial aid package will be adjusted accordingly with the increase? I know the package I received with my ED acceptance was based off of the 2017-2018 prices. I barely got any financial aid, even with an appeal, and really can’t afford to pay any more than they already have me paying, so I really hope so.
just for reference Drexel next door to Penn costs about the same - without the large endowment that Penn has
@JerseyParents Drexel does not have to support the same kind of world-class faculty, administrators and research/academic infrastructure that Penn has. Also the FA at Drexel is nowhere near as generous as the one at Penn or other ivies. Obviously the price tags at all these colleges is astronomic but Drexel is not a fair comparison.
@candy9283 Pretty sure FA awards track the tuition cost inflation. It would be really outrageous if they didn’t. Doesnt hurt to call Penn SFS and verify though.
For those who can afford, you can lock the rate for the next four years by paying in full in advance.
@Penn95 You need to add roughly $4K for “fees” to the Harvard figure. Those fees surprise a number of full-pay families.
@candy9283 Yes, your financial aid package will increase each year in line with increases in university charges provided, of course, that your financial situation remains the same.
@exilibris I have included the fees for Harvard. i went on each schools website and added tuition + fees. Some schools have already added them up and show them as one entry.
for Harvard: tuition: $44,990 fees: $3,959 total: $44,990 + $3,959 = $48,949
https://college.harvard.edu/financial-aid/how-aid-works/cost-attendance