The Penn Compact 2020 affirms inclusion as a means toward the essential ends of higher education: equalizing opportunity, educating leaders for all sectors of society, and enriching the experience of all members of the University community.
The cornerstone of Penn’s initiative to increase access for students from all socioeconomic backgrounds is its All-Grant Financial Aid Policy. Penn has awarded nearly $1 billion in grants since implementing the policy in 2008, and the average net cost for aided students to attend Penn today is almost $2,700 less than it was in 2005 (in constant 2005 dollars). In 2016-17, this need-based grant program made it possible for nearly half of Penn’s undergraduate students to attend the University.
The critical importance of Penn’s All-Grant Policy is underscored by the Penn Impact 2020 initiative to raise $1 billion for student financial aid by 2020. This unprecedented goal comprises $600 million for undergraduate assistance and $400 million for graduate and professional student assistance, building on the respective $360 million and $110 million raised in the groundbreaking Making History Campaign, which ended in 2012.