<p>New financial aid packages at Penn dont have loans:</p>
<p>As part of that commitment, students from families with annual incomes of less than $100,000 who qualified for need-based aid will not have loans included as part of their financial aid package beginning in Fall 2008. In Fall 2009 this policy will extend to all families who qualify for need-based aid. As a result, students from these families will be able to graduate debt-free. Penn is steadfast in its commitment to make an extraordinary education both affordable and accessible; these tenets will continue to guide our efforts for this and many years to come.</p>