New University of Pennsylvania financial aid thresholds

[Anonymous]

Effective in the 2025-26 academic year, Penn will no longer consider the value of the primary family home among assets in determining the amount of financial aid eligibility and will raise the income threshold for families eligible to receive full tuition scholarships from $140,000 to $200,000 with typical assets.

Question is what are typical assets? How many people make 200k and have limited liquid assets? Or do they intentionally try to keep them out of liquid accounts?

[Anonymous]

We have limited. Most of our net worth is in retirement and home equity. Nominal outside of that.

[Anonymous]

Anonymous wrote:We have limited. Most of our net worth is in retirement and home equity. Nominal outside of that.

Same.

[Anonymous]

Anonymous wrote:Effective in the 2025-26 academic year, Penn will no longer consider the value of the primary family home among assets in determining the amount of financial aid eligibility and will raise the income threshold for families eligible to receive full tuition scholarships from $140,000 to $200,000 with typical assets.

Question is what are typical assets? How many people make 200k and have limited liquid assets? Or do they intentionally try to keep them out of liquid accounts?

Smart move. it puts them in -line with Harvard and Princeton as far as need-based aid thresholds. For most it will yield less out of pocket that state schools as well as all other privates besides H and P

[Anonymous]

MIT just announced free tuition for everyone under 200k.

Why do these universities try to do so much social engineering? How about just giving everyone the same flat rate? (that would obviously be a lot less than current list price)

[Anonymous]

Anonymous wrote:MIT just announced free tuition for everyone under 200k.

Why do these universities try to do so much social engineering? How about just giving everyone the same flat rate? (that would obviously be a lot less than current list price)

tell me you have always been uber rich without telling me. good grief.

[Anonymous]

Anonymous wrote:MIT just announced free tuition for everyone under 200k.

Why do these universities try to do so much social engineering? How about just giving everyone the same flat rate? (that would obviously be a lot less than current list price)

Why are you trying to help the rich remain rich? Do you really think a kid whose parents earn $20K is less worthy of a college education than one whose parents earn $800K?

[Anonymous]

Anonymous wrote:MIT just announced free tuition for everyone under 200k.

Why do these universities try to do so much social engineering? How about just giving everyone the same flat rate? (that would obviously be a lot less than current list price)

This is the one thing that these universities do that I’m 100% behind. 40k a year is prohibitively expensive for most of the US. Happy to see this.

[Anonymous]

Well not totally. They limit the aid to those with typical assets…..which usually means not more than 250k in cash, non retirement investment accounts and non primary real estate.

Anonymous wrote:MIT just announced free tuition for everyone under 200k.

Why do these universities try to do so much social engineering? How about just giving everyone the same flat rate? (that would obviously be a lot less than current list price)

[Anonymous]

I live in Pittsburgh and saw this on the news yesterday. Free tuition for incomes under $75,000. Is this really something new?

https://www.cbsnews.com/pittsburgh/news/carnegie-mellon-university-new-program-free-tuition/

[Anonymous]

Penn eliminating home equity is a much bigger change than the income threshold raised $50k.

I bet there were plenty of $150k applicants with $250k+ of home equity. That was why Princeton’s aid packages were always much more generous for two identical families.

This will open up aid to a large group…I gather existing students can now request aid based on these changes?

[Anonymous]

Anonymous wrote:

Anonymous wrote:MIT just announced free tuition for everyone under 200k.

Why do these universities try to do so much social engineering? How about just giving everyone the same flat rate? (that would obviously be a lot less than current list price)

tell me you have always been uber rich without telling me. good grief.

DP. Totally.

[Anonymous]

Anonymous wrote:Penn eliminating home equity is a much bigger change than the income threshold raised $50k.

I bet there were plenty of $150k applicants with $250k+ of home equity. That was why Princeton’s aid packages were always much more generous for two identical families.

This will open up aid to a large group…I gather existing students can now request aid based on these changes?

Actually income change is bigger, IMO. Savings/equity don't count nearly as much as income when it comes to calculating EFC. And they probably already had some factor to treat home equity less than savings. I think a lot of colleges that still consider home equity, even without a cap, somehow qualify it.

[Anonymous]

Where were all these policies when I went to college. Other than subsidized Stafford loans, I didn’t get crap, despite having two non college educated parents and HHI 60k. Loans for me. It sucked.

[Anonymous]

Anonymous wrote:Where were all these policies when I went to college. Other than subsidized Stafford loans, I didn’t get crap, despite having two non college educated parents and HHI 60k. Loans for me. It sucked.

Cry me a river. College costs a lot less then. What was your tuition?