The total annual cost of a Penn education will rise by 3.9 percent in the 2013-14 academic year, to $58,812, and the University’s financial-aid expenditures will go up 5 percent. Both are in broad keeping with recent trends. Over the last five years, undergraduate tuition, fees, room and board have risen by approximately 4 percent per year.
For the next academic year, undergraduate tuition will increase to $40,594 from $39,088; room and board will increase to $12,922 from $12,368; and fees will increase to $5,296 from $5,122.
The incoming freshman class, meanwhile, represents the most selective in the University’s history. According to figures released in March, Penn admitted 12.1 percent of all applicants for the Class of 2017, a record low.