Reply to New University of Pennsylvania financial aid thresholds

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Does 'free tuition' include room and board, or just tuition?[/quote]

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

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

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.[/quote]

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

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$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. [/quote]

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.

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