Student Financial Services provides financial services related to educational expenses, including financial aid, loans, payment options, billing and student employment.
Recognizing customer service as its top priority, the Student Financial Services Counseling and Contact Centers answer a myriad of calls and email correspondence on a daily basis. SFS is open during business hours to accommodate in-person visits should you or your student need to schedule an appointment or stop in to speak with an Assistant Director.
For quick answers to general questions, use askBEN, our 24/7 question and answer tool, located on each page of the SFS web site.
All financial aid awarded by Penn is based on demonstrated financial need, as determined by Student Financial Services. Penn is one of the few schools to offer no-loan financial aid awards to undergraduate dependent students who are pursuing their first degree.
To apply for need-based aid, students must submit the required financial aid applications as well as parent and student tax returns. Please visit the SFS website for application details and information on need-based scholarships and grants, work-study jobs and the optional Federal Direct Loan.
Aside from financial aid, other options are available to assist with your student’s cost of attendance. Families can select one plan, or combine several, to meet their needs. Federal loan programs (Federal Direct Loan for students and Direct PLUS Loan for parents) usually offer the best terms and repayment benefits. Penn also offers tuition payment plans that do not charge interest: the Penn Monthly Budget Plan and the Tuition Prepayment Plan. See our website for details.
Outside scholarships (i.e., scholarships awarded from non-governmental sources outside the University) are an important resource for all students. Many Penn students pursue outside scholarships to avail themselves of additional financial flexibility. More information on outside scholarships can be found on the SFS web site.
Penn.Pay is Penn’s electronic billing system through which your student receives his/her student account bill. Your student can review new daily activity and opt to pay his/her bill online, securely and efficiently. To comply with federal regulations (FERPA), your student must invite you to be an “other payer” in order for you to access Penn.Pay and review the same information as your student.
Your student’s first bill will be sent July 3, 2012 and is due August 1, 2012. Paper billing statements will be mailed to the street address we have on record for July and August only. In addition, an email will be sent to your student’s University email address and any other addresses added to Penn.Pay when the bill is ready to view. Beginning in September, your student and other payers will only receive email notifications when a new monthly statement is ready on Penn.Pay. Paper bills will be discontinued. You can view Penn.Pay at any time to check new activity that occurred since a previous statement.
Full payment of the student account bill is due by the date indicated on the statement. Students are responsible for paying any amounts not covered by financial aid, federal loans, outside scholarships, or payment plans. A late payment penalty of 1.5% of any past due balance will be assessed. A past due balance may result in your student’s account being placed on financial hold, which restricts future registration, diplomas and transcripts.
Online payment can be made from a U.S. checking or savings account with no fee. Penn also accepts the American Express® card via Penn.Pay. (Please note that a 2% convenience fee applies and will appear on your American Express statement. Penn does not receive any compensation or portion of the convenience fee for providing American Express® as a payment option.) Personal checks are also accepted through mail or in person, or funds can be sent via a wire transfer. See our website for additional details about the student account bill, including a billing schedule.
We strongly encourage you to review the SRFS Must-Do List with your student and have him/her complete it as soon as possible. The Must-Do List addresses your student’s safety on campus, privacy rights, signing up for Penn.Pay, and enrolling in direct deposit for easy payment of work-study funds and student account refunds. See the Must-Do on the SFS web site.