New University of Pennsylvania financial aid thresholds

[Anonymous]

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Anonymous wrote:Does 'free tuition' include room and board, or just tuition?

Looks like just tuition because the full ride is for families making under 100K.

And the non-tuition costs at Penn are huge. “Mandatory fees” are higher than in-state tuition at some flagships.

I make 145K and will have about 80K in the 529 at HS graduation. The NPC said I would pay 30K a year, which would mean just 10K out of pocket annually for me. That's more than reasonable for a T10 school that is 92K annually. I imagine it would be even more affordable if I hadn't saved at all.

I don't see any downside to this news.

Did you run the NPC after the rule change? That sounds a little high after raising the threshold from $140k to $200k.

$30,000 for a family making $145,000 sounds exactly right. Under the new rule families making $75,000-$200,000 don’t pay tuition. But tuition is only about $60,000 of the $90,000 cost of attendance. So the middle-income family is still paying $30,000/year. That’s nothing to sneeze at, and it makes Penn competitive with a state flagship for a middle-income family (unless you get merit at the flagship, which a kid who can get into Penn likely will), but it’s not like the situation with a family making under $75,000 where Penn is actually the less expensive option.

Tuition is $65k and usually these income thresholds are ratable. So if it’s 100% free at $75k and tuition free at $200k…then you usually get free tuition plus a percentage of the other costs as well between $75k-$200k.

Yes but the PP posting had a pretty healthy 529, so probably just getting the top line guarantee.

PP making 145K here and agree. If I can cover 20K/year through 529 savings, requiring another 10K is totally reasonable and I'd be elated to pay this for Penn. We're also District residents, so there's no cheaper option available. Penn could actually be an ED option for my kid, whereas ED wasn't on the table at all prior to this.

Fwiw, the quote was 19-40K/annually with 30K most likely. While I'd love 19K, I don't know that it's appropriate for my household given I can afford a little more. 30K means paying as I go without stress.

[Anonymous]

Anonymous wrote:This threshold of typical assets is bogus.

It penalizes those middle income individuals who have been extremely frugal and saved and invested successfully.

It also penalizes those who have inherited money before their kids go to college (eg. those having kids later in life and having older grandparents) while ignoring the fact that many younger parents and their kids will inherit substantial amounts after they have graduated from college (while they still got financial aid)

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?

I agree with this.

I think instead of taking 5% of non-shielded assets, they should take 1 or 2% of all assets. Why should your 4mm house be shielded?