Quaker Commitment Ensures Full Tuition Scholarships for Families with Incomes of 0K or Less as Financial Aid Budget for 2025-2026 is Approved by Trustees

The University of Pennsylvania’s Board of Trustees has announced a significant increase in its financial aid budget for the upcoming 2025-2026 academic year, raising the total to 8 million. This represents a 6.4% increase in expenditure compared to the previous academic year, largely driven by the university’s Quaker Commitment initiative.

In conjunction with this increase in financial support, the Trustees have also approved a 3.7% rise in total undergraduate charges, bringing the tuition fee to ,204, alongside ,032 in fees, ,132 for housing, and ,744 for dining, culminating in a total cost of ,112 for students. This comprehensive financial strategy reflects the University of Pennsylvania’s ongoing commitment to making higher education more accessible.

The Quaker Commitment, which was launched in the previous fall semester, focuses on providing financial assistance specifically to middle- and lower-income families. It guarantees full tuition scholarships for students coming from families earning 0,000 or less annually and eliminates home equity from the financial aid assessment process. This aspect of the initiative is designed to simplify and enhance financial aid packages, thus alleviating concerns surrounding the complexities often associated with financial aid applications.

Interim President J. Larry Jameson emphasized the transformative nature of the Quaker Commitment, stating, “This is a bold move that makes a Penn education more financially inclusive for middle- and lower-income families.” He added that access to affordable higher education is a pressing issue in national discourse and that this initiative serves as a “compelling model” for how higher education institutions can better support families.

The University of Pennsylvania has a rich history of prioritizing financial aid. Its no-loan financial aid policy was first implemented in 2008, aimed at fostering access to its esteemed educational offerings. The Quaker Commitment expands upon this foundational effort, with Mark Dingfield, Vice President for Finance and Treasurer, highlighting its transparency and simplification of the financial aid process as vital advancements.

Currently, around 45.4% of Penn’s approximately 10,000 undergraduates receive financial aid, with an average aid package amounting to ,552—an amount that surpasses tuition costs and covers approximately 76% of the total cost of attendance. Notably, the average financial aid package offered today is markedly more generous than it was in 2008 when the no-loan policy was introduced, which only covered 57%. Encouragingly, the policy has also significantly reduced student loan dependency; only 18% of need-based aid recipients took out loans in FY25, a dramatic decrease from 76% in its inaugural year.

With these developments, the University of Pennsylvania continues to reinforce its role as a leader in higher education, dedicated to expanding opportunities for all students, irrespective of their financial circumstances. As discussions about access to education and affordability evolve, initiatives like the Quaker Commitment are essential in addressing the needs of diverse student populations.