Financial Policies

There are several financial policies that are applicable to Wharton undergraduate students. The information on this page will provide information about tuition, fees, and other charges. Students should also be aware of the financial policies governing course load and financial aid.

Students who withdraw from the University or who take a leave of absence from the University should be aware of the policies governing the reduction of tuition and fees for leave of absence or withdrawal. Seniors interested in part-time study should inform themselves of the financial policies governing part-time status.

See the Student Life Policies page for information about financial policies for clubs and other student organizations.

Tuition, Fees, and Other Charges
The PennBook describes policies regarding the payment of tuition, general fees, technology fees, dining arrangements, and other charges. For more information, please go to: www.upenn.edu/provost/PennBook/financial_policies.

Reduction of Tuition and Fees for Leave of Absence or Withdrawal
A student who chooses to withdraw from the University, who is required to withdraw for failure to maintain a satisfactory scholastic standing, or who is granted a leave of absence from a full-time division of the University during the fall or spring term of the academic year will be eligible for a reduction in tuition and fees in accordance with the conditions set forth herein.

The effective date of separation from the University is the date the student files a written request for withdrawal or leave of absence in the Undergraduate Division. If the school representative determines that a financial adjustment is required, the school will post a manual adjustment to the student’s billing account. Refer to the Leave of Absence/ Withdrawal Checklist at www.sfs.upenn.edu/special-polices/policies-leave-of-absence.html for additional information.

A student who is required to withdraw because of a violation of University regulations shall receive no tuition refund.

For all other students, semester charges will be adjusted as follows

If you leave within
Percent refund of tuition and fees
First two weeks of class
100%
Third and fourth weeks of class
50%
Thereafter 0%

In the case of students receiving financial aid, eligibility for the term will be re-determined based on actual charges and prorated allowances for living expenses. Students should contact Student Financial Services at www.sfs.upenn.edu for more information.

Course Load Effect on Billing and Financial Aid
Wharton offers only a full-time program of study, and the normal minimum course load is 4 course units (CUs) per term for the bachelor of science degree.

Students are automatically billed at the full-time rate every semester. Fewer than 4 CUs per term may jeopardize both state and federal financial aid and may have an impact on such matters as visa status, athletic eligibility, and/or insurance coverage. Check carefully to be certain that you know the enrollment requirements of relevant organizations or funding agencies to avoid jeopardizing your standing as a student.

Part-Time Status for Seniors
Part-time status is defined as 2.5 CUs or fewer. Seniors in the final semester of their undergraduate program may be designated as part time if they need 2.5 CUs or fewer to fulfill their degree requirements

Part-time billing is not automatically implemented when students advance register for one or two courses. Students must meet with an academic advisor in the Undergraduate Division to request approval; without this approval, they will be billed at the full-time rate.

More information about procedures and deadlines >>

Financial Aid
Financial aid for U.S. citizens and permanent residents is based on financial need, as determined by Student Financial Services (SFS). Financial aid applications must be submitted annually. Financial assistance for international students is limited.

In addition to need-based financial aid, there are a number of payment and credit options available to parents and students to help manage the cost of education.

For further information on specific programs, application processes, payment and credit options, and links to outside scholarship searches, visit the SFS website at www.sfs.upenn.edu. Students may also contact SFS in person in the Franklin Building, First Floor, by phone at (215) 898-1988, or by email at sfsmail@sfs.upenn.edu.