On March 2, President Liz Magill announced an expansion of the University’s undergraduate financial aid program and the Penn First Plus initiative for the 2023-2024 academic year.
Penn Announces Expansion of Student Aid
A Penn education will become even more accessible for students from modest backgrounds with exceptional promise
Published: March 23, 2023
Now, students whose families make $75,000 or less, with typical assets, will be eligible for financial aid packages that fully cover tuition, fees, housing, and dining with grants and work-study funds. Prior to this announcement, the income limit for this type of financial aid package was $65,500.
This expansion of Penn’s undergraduate financial aid program will make the path to Penn possible for hundreds of additional students each year. As student and family need increases, so do our efforts to not only meet that need, but to deliver resources and opportunities that amplify the Penn experience.”Penn President Liz Magill
These students will also have access to supplemental support made available by Penn First Plus and Student Financial Aid, including:
- Summer internship and research opportunity funding
- Grant funding to cover the cost of Penn’s health insurance plan
- A free laptop computer for incoming first-year students
- Stipends to cover the cost of food during Thanksgiving and Winter Breaks while dining halls are closed
- Free academic regalia as seniors
- Grant funding to cover tuition for summer courses
The expansion of student aid over the past two decades has been driven by a global community of donors. This generosity and strong commitment—in addition to enhanced university-wide support for the student experience through Penn First Plus—makes it possible for thousands of students to access opportunities for learning and personal development in class, across campus, and even abroad.
