<p>This is great. Of course, many of us have to worry about being accepted first :).</p>
<p>I love life.</p>
<p>Yale does it as well.</p>
<p>College should just be free for everyone. Sigh, middle class woes.</p>
<p>brown has eliminated tuition and board fees for its lowest income students as well
i believe harvard, princeton, yale. brown, and stanford all have a similar policy</p>
<p>Yay for being poor!</p>
<p>For happiness is found in the most unexpected places.</p>
<p>i second that</p>
<p>Is this going to apply for incoming freshmen, too? I sure hope so....</p>
<p>penn is SO AWESOME >A<</p>
<p>hmmi have a question? how come penn's policy is like eliminate loan while every other school is eliminate tuition..does sound a lil fishy...could they just jack up or family contribution or something</p>
<p>this thread title is a lil misleading....paying for tuition/r&b?</p>
<p>Yeah I made a post on this on the Parent's forum, but before the press release title was "University of Pennsylvania Will Pay Tuition and Room and Board for Families Earning Less Than $50,000."</p>
<p>Now if you go to the website, the press release is titled "University of Pennsylvania Will Eliminate Loans for Students of Families Earning Less Than $50,000."</p>
<p>SOmething's definitely strange.</p>
<p>Hm, that is weird...</p>
<p>but they can't just increase the family contribution. cause you could argue the point that they made the first evlauation and it doesn't make sense to decide someone could pay more if they don't make more. there's no way they'd do that and get away with it.</p>
<p>yes...but its still fishy...nontheless...y dont they just do it like all the other colleges</p>
<p>I think it's the fact that Penn's endowment is significantly smaller than those of Harvard, Princeton, Yale, Stanford etc. And they have more students than all of those schools...so they'd need more than they just got to completely change their financial aid for the better. They could probably do it now, but they're putting a lot into security and dorms, too.</p>
<p>Thanks for pointing that out, whartonalum. If that is indeed what they meant, then this is a pretty pointless press release. Loans for students whose household income is under $50,000 wouldn't be burdened by much loan anyways.</p>
<p>It's not pointless.</p>
<p>
[quote]
In conjunction with the reductions in summer savings requirements and increases in allowances for incidental expenses for students from low-income backgrounds, which were implemented in 2005-2006, the elimination of loans will mean that the highest-need students will each receive grant aid of more than $45,000 in 2006-2007
[/quote]
</p>
<p>Basically they're giving more grant to poor students than before, which is a good thing.</p>
<p>
[quote]
Maybe they can afford to because they use temps to teach 60% of UG classes. From the COHE:
"Tenure-track faculty members teach only 40 percent of classes in the University of Pennsylvania's School of Arts and Sciences, according to a report by a graduate-student union at Penn that has been fighting for university recognition. Lecturers on short-term contracts teach almost the same amount, the report says.</p>
<p>As a result, the group argues, students at Penn are not getting the education they are paying for."
[/quote]
</p>
<p>This is really meaningless without any comparisons to other research universities.</p>
<p>I have to carry the student and a large portion of the parental contribution on my own because my family's in a crappy financial spot, but we do earn less than 50k now. I will be a sophomore next year -- will this help me any? Apparently I am misunderstanding something.</p>
<p>will this change, increase the number of applicants next year, especially ED?</p>