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Rank: 32

University of Pennsylvania

Philadelphia, PAwww.upenn.edu
Although it's known for typically having one of the largest freshman classes in the Ivy League (about 2,500 students), the University of Pennsylvania is also one of the most selective. Its acceptance rate for the class of 2023 was a record low of 7.44%. Once admitted, students clearly thrive: About 96% of freshmen graduate, putting Penn among the top 10 colleges with the highest graduation rates in MONEY's rankings. Among the most elite departments within Penn are business and economics, which are notoriously demanding. Students in introductory economics hold a midnight "Econ scream" just before midterms where they gather and scream in advance of the test. It may all be worth it, however, given how highly employers value degrees from Penn. Graduates report earning $70,100 within three years, according to PayScale -- slightly higher than other schools of similar caliber. For fun, Penn hosts Spring Fling the last week of classes, touted as the largest college party on the East Coast. Past headliners have included Kesha, Ludacris, and OK Go. Another fun tradition is a bit more unusual: During every home football game, students toss thousands of pieces of toast onto the field as a toast to the school.
costs
Est. Full Price 2019-2020
$74,900
% of students who get any grants
53%
Est. price for students who receive aid
$26,200
Average price for low-income students
$7,760
admissions
Acceptance rate
9%
Median SAT/ACT Score
1490/34
SAT/ACT required?
Yes
Enrollment
10,660
Financial Aid
% of students with need who get grants
99%
% of need met
100%
% of students who get merit* grants
N/A
Average merit grant
N/A
student success
Graduation rate
96%
Average time to a degree
4.1 years
Average student debt
$12,990
Average salary within 3 years
$70,100
% of low-income students who become upper middle class
58%
key deadlines
Early decision application
Nov 1
Regular application
Jan 5

* Share of full-time undergraduates who had no financial need and were awarded grants.

Sources: U.S. Department of Education, Peterson's, PayScale.com, MONEY/College Measures calculations, Opportunity Insights.

* Share of full-time undergraduates who had no financial need and were awarded grants.

Sources: U.S. Department of Education, Peterson's, PayScale.com, MONEY/College Measures calculations, Opportunity Insights.

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