Penn hikes tuition, room and board fees to nearly $77,000, up 3.9% over last year
“A measured increase in tuition makes it possible to invest in the resources and programs that make a Penn education the best in the world, while simultaneously maintaining a robust and growing undergraduate aid budget,” Trevor Lewis, vice president for budget planning and analysis, said.
Tuition, fees, and room and board for undergraduates at the University of Pennsylvania will cost nearly $77,000 next year under a plan approved by Penn’s board of trustees Thursday.
The price tag represents a 3.9% increase, or $2,866. Tuition will cost $53,166, fees $6,876, housing $11,014, and dining $5,770, for a total of $76,826.
That’s the same percentage increase as Penn enacted last year, which raised costs to nearly $74,000.
» READ MORE: Costs to attend Penn will approach $74,000 in 2019-20
“A measured increase in tuition makes it possible to invest in the resources and programs that make a Penn education the best in the world, while simultaneously maintaining a robust and growing undergraduate aid budget,” Trevor Lewis, vice president for budget planning and analysis, said in a statement.
Trustees also approved an increase in the undergraduate student aid level, bringing the total to $256 million. Financial aid for tuition also will be expanded to include families with typical assets making up to $140,000.
Penn noted that 45% of undergraduates receive grant-based financial aid packages, with an average of $56,693.