Penn Expands No-Loan Financial Aid Packages

Penn announced today a major expansion of its no-loan financial aid package initiative for undergraduates to include students whose families earn less than $60.000 annually.

The new income threshold builds on a program announced last year, which replaced loans with grants for eligible students from families earning less than $50,000.

"We want to send a clear message to families who may have felt that Penn was out of their reach that we are committed to supporting them as they seek to provide the best possible educational opportunities for their children," Penn President Amy Gutmann said.

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