The University of Pennsylvania announced it's increasing the total cost of attendance for an undergraduate year at the Ivy League institution by 3.4 percent — but its financial aid budget is getting a boost as well.
The financial aid pot is rising from $214 million to $224 million, the highest in the school's history. The yearly cost to attend, a combination of tuition, room and board and fees, will increase from $66,000 to $68,600. Tuition on its own is rising from $45,556 to $47,416.
The 3.4 percent increase in total charges is slightly less than the cost increase from 2015-16 school year to the 2016-17 year, in which the overall cost grew by 3.9 percent.
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