Policy on Outside Funding
While Penn provides financial aid packages that cover 100% of your demonstrated financial need, you can use outside scholarship funding to reduce or eliminate your work-study expectation. Penn considers your outside funding as part of your overall financial aid funding and will adjust your package as needed to account for it.
First, outside scholarship funds are applied to reduce or eliminate your work-study award for the academic year. If your outside funding is larger than your work-study eligibility, the remaining amount will replace university grant funding. Outside funding cannot be used to reduce your Parent Contribution.
Promptly report any funding you receive from sources outside the University.
Reporting scholarship checks and grants:
Email scholarship correspondence as an attachment to [email protected] or if necessary, mail copies to the address below.
Advise your sponsor to make checks payable to Trustees of the University of Pennsylvania, to include your name and Penn ID number in the documentation, and to mail the checks to the address below.
If you receive a scholarship check made payable to you or made co-payable to you (i.e. made payable to University of Pennsylvania & [Your Name], endorse (sign) the back of the check before mailing it to the address below. Please make sure your name and Penn ID number are sent with the check. If such checks are not endorsed, they cannot be deposited and credited to your account. Mail to:
Attn: Outside Scholarships
Student Financial Aid
University of Pennsylvania
Franklin Building, Room 100
3451 Walnut Street
Philadelphia, PA 19104-6270
Policy on Health Insurance
PSIP is the Penn Student Insurance Plan. This health insurance is mandatory for all full-time students who are not covered by private insurance, or whose private insurance does not meet University insurance requirements.
If you do have private insurance, be sure to submit proof to Student Health and Counseling by their deadline, or you will be automatically enrolled in PSIP.
For insurance requirements and enrollment information, visit the Student Health and Counseling website.
Policy on Travel Allowance
An allowance for travel is included in your cost of attendance. The amount is standardized by region and based on your permanent address. Residents of NJ, NY, MD, PA, DE, and CT do not have a travel allowance included in their cost of attendance.
Policy on Student Contribution
The University covers all demonstrated financial need for QuestBridge Scholars with a package made up exclusively of Penn Grant and federal work-study. Your eligibility is determined by considering income, assets, family size, number of dependent children in college or private school and the cost of each school, all taxes paid, and special circumstances. Generally, student contributions include an expected savings from summer employment and/or a small percentage of assets.
Penn replaces the summer earnings expectation with grant funds for all students who are QuestBridge Scholars, for all four years.
Requirements Associated with Maintaining this Award
Students must apply for aid each year in order to maintain the match scholarship award.
Other Details
Penn is the nation's largest university with a financial aid program that enables all dependent undergraduates eligible for aid to receive grant-based aid packages for eight semesters. Financial aid awards are comprised of a work-study job and grant only; there are no loans included in a student's financial aid package. Penn makes it possible to graduate debt-free.
Learn more about the special benefits and initiatives available to Highly Aided students on Penn’s Student Registration & Financial Services Website.
University of Pennsylvania’s Financial Aid Overview
The University of Pennsylvania believes a diverse student body, drawn from a broad range of economic backgrounds, enhances the educational experience of all students.
To this end, Penn meets the full need of all admitted and enrolled students for the duration of their undergraduate career at Penn and does not include student loans in meeting dependent students' needs.
Penn has a strong commitment to awarding aid only on the basis of financial need and awards no academic or athletic scholarships. Penn expects each student's family to contribute according to their financial circumstances. Expected contributions, based on a comprehensive review of each application, range from $0 to the full cost of education.
Because family situations can often change significantly from year to year, Penn reassesses a student's expected family contribution each year. For that reason, QuestBridge students will generally be considered for a four-year Match Scholarship only in those cases where the expected parent contribution is less than $4,500, and it appears unlikely that it will change over time.
