Penn Trustees approve 2026–2027 undergraduate charges and financial aid budget
The University of Pennsylvania Board of Trustees has approved a $347 million undergraduate financial aid budget for the 2026–2027 academic year, along with undergraduate tuition and fees.
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At its winter meeting, the Trustees of the University of Pennsylvania approved a financial aid budget of $347 million, representing a 3.8% increase over the prior year. Penn continues to meet 100 percent of demonstrated financial need with grant-based aid and without loans, a longstanding policy designed to ensure that students can pursue a Penn education regardless of their family’s financial circumstances.
This year’s financial aid investment builds on the expansion of the Quaker Commitment announced last year, which guarantees full tuition scholarships for students from families earning $200,000 or less with typical assets and provides tuition-free education for students from families earning $75,000 or less. That initiative strengthened Penn’s efforts to support middle- and lower-income families and to make a Penn education more attainable.
The Trustees also approved tuition for the 2026–2027 academic year. Undergraduate tuition will be $65,670 and fees will be $8,308. Room charges will total $13,644 and the meal plan charge will be $6,960, bringing the total cost of tuition, fees, room, and board to $94,582. The overall cost reflects a 3.8% increase from the previous academic year.
Tuition for graduate and professional students will be determined by Penn’s individual schools to reflect their respective budget requirements.
The approved budget reflects ongoing efforts to manage costs responsibly while sustaining investments in faculty, research, student support, and the student residential experience. The University remains focused on balancing the resources required to deliver a world-class education with its commitment to substantial financial aid support for students and families.
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