by our College Data Analytics TeamHere you will find what students actually borrow to attend University of Pennsylvania: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. All figures come from the U.S. Department of Education and IPEDS.
For incoming students at UPenn, 11% of freshmen borrow to help pay for their first year, for an average of $11,278 each, across private and federal loan sources.
On the federal side, the average loan is $5,060, amounting to 92.0% of the $5,500 first-year borrowing cap for the typical first-year dependent student. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
For undergraduates overall at UPenn, 10% borrow through federal student loan programs, borrowing on average $7,069 annually. That is 39.7% above the $5,060 freshmen take on.
Borrowing at that rate every year works out to about $14,138 after two years and $28,276 over a four-year span. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 10% |
| Average federal loan per year | $7,069 |
| Undergraduates with a federal loan | 1,105 |
| Total federal loans (one year) | $7,810,693 |
The median student at UPenn borrows $14,000 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $14,000 |
| Students who completed (graduates) | $15,715 |
| Students who withdrew | $12,000 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at UPenn.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,500 |
| 25th percentile | $6,500 |
| 75th percentile | $21,500 |
| 90th percentile (highest-debt students) | $29,450 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at UPenn.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at UPenn.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 1541 | $31,120 |
| Completed (graduates) | 1083 | $33,124 |
| Did not complete | 458 | $26,475 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $393.88/mo.
Stafford loans are the federal direct-loan program most undergraduates use. The breakdown below separates borrowers who used Stafford loans from those who did not at UPenn.
Any-Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 1425 | $30,000 |
| No Stafford loan | 116 | $51,854 |
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 871 | $33,000 |
| No Stafford loan this year | 670 | $29,975 |
Repayment burden translates the debt figures into what a borrower actually pays each month. UPenn.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for UPenn appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 0.9% |
| Borrowers in the cohort | 3651 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $12,500 |
| Middle income | $13,167 |
| High income | $15,000 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $13,000 |
| Continuing-generation students | $14,750 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $13,115 |
| Independent students | $22,000 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at UPenn.
Subsidized vs. Unsubsidized Loans
With an unsubsidized loan, interest starts adding up the day the loan is disbursed, including during school. Subsidized loans, by contrast, do not accrue interest while you are enrolled at least half-time, which makes them the less expensive option when you qualify.
Important to Remember
Federal student loans are not discharged in bankruptcy in all but the rarest cases, and the government can withhold part of your income or tax refund if you default.
References
More about our data sources and methodologies.