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Rank: 30

University of Pennsylvania

Philadelphia, PAhttps://www.upenn.edu
Although it's known for typically having one of the largest freshman classes in the Ivy League (about 2,400 students), the University of Pennsylvania is still wildly tough to get into. Its acceptance rate for the class of 2023 was a record low: less than 8%. 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 $67,200 within five 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.
CORONAVIRUS UPDATE
FALL 2020 PLAN: The University of Pennsylvania announced that all undergraduate courses are remote. It also reversed a planned 3.9% tuition increase.
costs
Est. Full Price 2020-2021
$76,000
% of students who get any grants
52%
Est. price for students who receive aid
$27,400
Average price for low-income students
$4,600
admissions
Acceptance rate
8%
Median SAT/ACT Score
1490/34
SAT/ACT Required for Fall 2021?
no
Enrollment
10,760
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
95%
Average time to a degree
4.1 years
Average student debt
$19,500
Average salary within 5 years
$67,200
% earning more than $28,000
91%
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.

* Full price of attendance includes on-campus room & board fees, which may not be applicable to all colleges' reopening plans this year.

Sources: U.S. Department of Education, Peterson's, PayScale.com, Money/American Institutes for Research calculations, Opportunity Insights.

coronavirus update

FALL 2020 PLAN: The University of Pennsylvania announced that all undergraduate courses are remote. It also reversed a planned 3.9% tuition increase.

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

* Full price of attendance includes on-campus room & board fees, which may not be applicable to all colleges' reopening plans this year.

Sources: U.S. Department of Education, Peterson's, PayScale.com, Money/American Institutes for Research calculations, Opportunity Insights.

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