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Financing Your MBA

What is the current cost of the Wharton MBA Program?

Tuition and living expenses for first-year students for the 2010-2011 academic year is $84,000. More detailed information can be found in the Financing Your MBA section.

Is funding available for my MBA?

Yes, MBA students typically finance their educations through a combination of educational loans and fellowships and scholarships, available through external sources or Wharton.

How do I learn about my financing options?

Information on financing options is available through theĀ Wharton MBA Program website and through Student Financial Services.

How are fellowships awarded?

All admitted students are considered for fellowship support at the time of admission. There is no separate fellowship application.

How will I be notified if I am chosen as a recipient of a fellowship?

If you are selected for a fellowship, you will be notified within your admission decision letter. You will also receive an Award Notification Letter (ANL), detailing the amount of the fellowship you have been awarded and loan you are eligible to borrow, via email shortly after you receive your admission decision. . If you are not chosen for a fellowship, the Award Notification Letter will only reflect your loan eligibility.

Are there any other outside sources that I should consider?

You should also consider any organizations to which you belong that might have aid funds available such as: religious organizations, fraternal organizations, clubs, athletics, veteran groups, ethnic groups, unions, employers, rotary clubs, and charitable foundations.

Are grants or fellowships taxable?

The Tax Reform Act of 1986 states that grant assistance is taxable income to the extent that it exceeds tuition, required education fees, and course-related expenses. Course-related expenses are those for books, supplies, and equipment required for your courses. For non-resident aliens, the University is required to withhold federal income tax on grants received in excess of the expenses described above.

What do I need to know about educational loans?

The University of Pennsylvania offers information on several educational financing programs to assist students in meeting their educational expenses. These programs include Federal Direct Loans, Federal Direct Grad PLUS Loans, and alternative loan programs. Please visit theĀ Student Financial Service (SFS) website for more information.

Are credit cards accepted to pay my tuition payments?

The University of Pennsylvania allows online payment of tuition through an American Express card. There is a 2% convenience fee for students who choose this option. The fee is included in your American Express billing statement.

The Global Immersion Program (GIP) is not included in Wharton's student budget. Will the University provide funding to cover these expenses?

The director of the Global Immersion Program submits an official Participants List to Wharton's Financial Aid Office. Student budgets are typically increased, providing students with additional loan eligibility.

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