1.  [College research](/)
2.  /
3.  [University of Pennsylvania](/school/university-of-pennsylvania/)
4.  /
5.  Cost & financial aid brief

Cost & financial aid brief

Copy linkPrint brief

# University of Pennsylvania Tuition, Costs & Financial Aid

Updated October 1, 2026

[Overview](/school/university-of-pennsylvania/)Cost & aid[Outcomes](/school/university-of-pennsylvania/outcomes/)[Admissions](/school/university-of-pennsylvania/admissions/)[Majors](/school/university-of-pennsylvania/majors/)[Similar schools](/school/university-of-pennsylvania/similar/)

**On this page**+

## How much does Penn cost after financial aid?

The published cost of attendance at University of Pennsylvania reaches $89,028, a figure that includes $68,686 in tuition and fees and $19,174 for room and board. For aid recipients, the average [net price](/analysis/is-college-worth-it-part-1-the-net-price-illusion/) falls to $28,699, with aid offsetting $60,329 of the sticker total.

That support covers roughly 68% of the published cost for a typical recipient. Against the peer median of $36,211 for comparable institutions (same type and size), the university's average net price is below by $7,512.

For affordability, Azimuth places the university at #872 among nonprofit four-year institutions. That places the affordability pillar in the 38th percentile.

At University of Pennsylvania, the average [net price](/analysis/is-college-worth-it-part-1-the-net-price-illusion/) for aid recipients is $28,699, which falls $7,512 below the median of $36,211 for comparable institutions (same type and size). Borrowers who complete leave with $15,715 in median federal debt, $7,453 below the peer median of $23,168 among comparable institutions (same type and size).

Azimuth places the affordability pillar in the 38th percentile among nonprofit four-year institutions. Average net prices reach -$3,012 in the lowest band and $55,972 in the highest.

Average [net price](/analysis/is-college-worth-it-part-1-the-net-price-illusion/)s by family-income band show a steeply progressive structure. For families earning under $30,000 the average net price is -$3,012; for $30,001–$48,000 it is $316; for $48,001–$75,000 it is $10,439; for $75,001–$110,000 it is $25,476; and for families earning over $110,000 it is $55,972.

Pell Grant recipients make up 16.5% of undergraduates, providing context for the lowest band. The spread between the lowest and highest bands is $58,984.

Average net price by family income

**$0–30K**
\-$3,012

**$30–48K**
$316

**$48–75K**
$10,439

**$75–110K**
$25,476

**$110K+**
$55,972

Averages within each income band; individual aid packages vary.

Net price can be negative: when grants and scholarships exceed the listed cost of attendance, students can receive the difference as a refund for other expenses.

Overall average annual net price: **$28,699**. After grants and scholarships, including living costs. [Source and coverage](#cost-data-notes).

For the average aid recipient, aid at University of Pennsylvania absorbs about 68% of the $89,028 sticker, a reduction of $60,329. The average [net price](/analysis/is-college-worth-it-part-1-the-net-price-illusion/) is $28,699, below the median of $36,211 for comparable institutions (same type and size) by $7,512.

The band pattern reflects aid concentrated on lower earners. Families under $30,000 see an average net price of -$3,012, a negative figure indicating that aid exceeds cost.

The averages are $316 for $30,001–$48,000, $10,439 for $48,001–$75,000, $25,476 for $75,001–$110,000, and $55,972 for families over $110,000. The spread between lowest and highest is $58,984.

Azimuth ranks the university #872 for affordability among nonprofit four-year institutions, a placement that coincides with a high sticker price and large aid discounts for lower-income families.

The published cost of attendance at the University of Pennsylvania is $89,028, with tuition and fees at $68,686 and room and board at $19,174. For aid recipients from families earning under $30,000, the average [net price](/analysis/is-college-worth-it-part-1-the-net-price-illusion/) is -$3,012, meaning aid exceeds the full cost for qualifying families.

The average net price for aid recipients from families earning $48,001–$75,000 is $10,439, and for aid recipients from families earning over $110,000 it is $55,972. The spread between the lowest and highest bands is $58,984.

Azimuth ranks the university #872 for affordability among nonprofit four-year institutions. Financial aid provides an average savings of $60,329 against the sticker price, bringing the average net price for first-time full-time Title IV aid recipients to $28,699.

That figure is below the median of $36,211 for comparable institutions (same type and size), a gap of $7,512. Median federal student loan debt at completion is $15,715.

That median is below the peer median of $23,168 for comparable institutions, a difference of $7,453. About 75.7% of federal aid recipients borrow federal loans.

Median [Parent PLUS](/analysis/ou-what-happens-when-parents-borrow-too/) borrowing stands at $33,124. If repaid over ten years, the estimated monthly payment for the median federal debt is $179.

## Student loans: what does repayment look like?

Borrowers who complete a degree at University of Pennsylvania leave with a median of $15,715 in federal student loans. That is $7,453 below the $23,168 median for comparable institutions (same type and size).

Federal borrowing is common: 75.7% of federal aid recipients take federal loans. Parents who borrow hold a separate median of $33,124 in [Parent PLUS](/analysis/ou-what-happens-when-parents-borrow-too/) loans.

Graduates of the University of Pennsylvania earn about $21,035 more than the model expects for similar students. That outcome places the university in the 96th percentile among nonprofit four-year institutions.

The median earnings four years after completion reach $124,586, a figure in the 99th percentile nationally. Earnings scenarios based on the university's program mix show a typical earnings level of $124,586, a downside scenario of $64,345, and an upside scenario of $203,421.

For borrowers who complete a degree, the median federal student debt is $15,715, which runs below the $23,168 median for comparable institutions (same type and size). The estimated monthly payment if repaid over ten years is $179.

Median [Parent PLUS](/analysis/ou-what-happens-when-parents-borrow-too/) borrowing, a separate parent-borrower population, is $33,124. The estimated monthly student payment if repaid over ten years is $179.

[Repayment figures](#combined-borrowing) are in the Financial GPS card below. [Borrowing populations and model assumptions](#cost-data-notes).

## Parent loans: what can the family afford?

[How Parent PLUS borrowing affects families](/analysis/ou-what-happens-when-parents-borrow-too/)

**Median Parent PLUS debt**
$33,124

**Estimated parent payment**
$421/mo

Modeled Parent PLUS pressure by income

| Income | Risk level |
| --- | --- |
| $35,000 | High pressure |
| $50,000 | High pressure |
| $75,000 | High pressure |
| $100,000 | High pressure |
| $150,000 | Safe |
| $200,000 | Safe |

The model holds the parent balance fixed and varies parent income. [Read the assumptions and limits](#cost-data-notes).

## Student and parent loans: the monthly payments

Financial GPS

### What does repayment look like?

**Institution median student debt**
$15,715

**Institution Parent PLUS debt**
$33,124

Federal loans only; private or institutional loans aren’t included.

**Estimated student payment · monthly**
$179/mo

**Estimated Parent PLUS payment · monthly**
$421/mo

**Modeled student + parent payments**
$600/mo

Payments use school-wide median balances, not a specific major’s.

#### Student payment as a share of available income

At median graduate earnings of $124,586, with a $22,590 annual allowance for basic expenses:

**2.1%** of income above the allowance · Excellent

1.  Excellent Under 8% · selected scenario
2.  Good 8–under 12%
3.  Concerning 12–20%
4.  High risk Over 20%

How this estimate works

These are modeled earnings scenarios, not observed earnings percentiles. Annual student payments ÷ (earnings − basic-expense allowance). The starting allowance, $22,590, uses the published framework’s 2024 baseline; it is not a current local living-cost estimate. Change it for your budget, including taxes and other obligations. This combines school-level figures for illustration, not a typical individual’s budget or an official school rating. Parent PLUS is separate.

[Read the framework and its limits](/analysis/financial-gps-framework/).

Payment assumptions

Payments are 10-year standard payments on the median balance, before loan fees, used as a yardstick. Rates for newly issued loans may differ, and loans made after July 1, 2026 can repay over a longer term; existing loans keep their original fixed rates.

[Explore your own numbers in Financial GPS](/financial-gps/?tool=student&school=university-of-pennsylvania#student-tool)

## Data & methodology

Sources and reporting periods: [methodology](/methodology/).

Analysis and methodology by [Daniel Rogers](/about/#founder), founder of College Azimuth.

Explanatory text is AI-assisted drafting checked against those figures; it is not an additional data source.

Figure notes link to sources and limitations. [About College Azimuth](/about/).

**Net price and borrowing.** The 2023–24 income-band averages include living costs and cover eligible first-time, full-time aid recipients; public-school figures reflect in-state tuition. They are not individual aid offers. Peer matching supplies overall net prices, not matched income-band averages. [College Scorecard data and documentation](https://collegescorecard.ed.gov/data/).

A personal student-risk assessment also needs your major and borrowing plan; these school-level illustrations do not assign you a personal risk zone.

Payments are 10-year standard payments on the median balance, before loan fees, used as a yardstick. Rates for newly issued loans may differ, and loans made after July 1, 2026 can repay over a longer term; existing loans keep their original fixed rates. Private-loan figures from the Common Data Set are separate from these federal repayment illustrations.