Wharton MBA Financial Aid and Tuition

Pursuing your MBA is an investment in yourself and in your future. Wharton is committed to helping you explore financing options so that you make informed decisions. For more information, check out our Value of a Wharton MBA page to learn more about what you gain when you invest in your future with Wharton.

MBA Program Tuition and Cost Breakdown

First-year budget, 2024-2025

University Fees$4,670
Living Expenses$33,804
Health Insurance$4,412

Second-Year budget, 2024-2025

University Fees$4,670
Living Expenses.$33,804
Health Insurance$4,412

Lauder Institute MBA/MA Tuition and Cost Breakdown

Learn more about Lauder Institute Tuition and Financial Aid here.

First-year budget, 2024-2025

Lauder Summer Tuition$13,000
Fall Semester Academic Fee$8,100
Spring Semester Academic Fee$8,100
Summer Lauder Living/ Travel Expenses$11,785
Minimum Guaranteed 1st-Year Lauder Fellowship($5,000)
Total Lauder$35,985

Second-Year budget, 2024-2025

Lauder Summer Tuition-
Fall Semester Academic Fee$8,100
Spring Semester Academic Fee$8100
Summer Lauder Living/Travel Expenses-
Minimum Guaranteed Second Year Lauder Fellowship($5,000)
Total Lauder$11,200

Please note: The Cost of Attendance budget includes average estimates of expenses directly related to a student’s education. We recommend students also budget for extra curricular activities that are not in the financial aid Cost of Attendance budget. These include fees for clubs, costs of attending networking events, student trips, and more. 

Wharton Fellowship Program

Wharton provides a broad range of fellowship opportunities for many exceptional students, thanks to the generosity of individuals, corporate and foundation donors, and the Wharton School.

All admitted students are considered for Wharton Fellowship support based on the application for admission. Criteria for fellowship selection includes unique personal qualities and background, academic achievement, exceptional professional development, and community involvement.

  • Awards are offered in the Admission and Financial Aid letter.
  • Fellowships are two-year awards, split equally over four semesters for a typical MBA student.
  • The Wharton Fellowship Committee does not offer reconsideration of fellowship support.

The information below is a select list of special fellowships available at Wharton.

The Chapman Taylor Family MBA Fellowship

The purpose of the Chapman Taylor Family MBA fellowship is to provide financial support to a graduate student or students in the Wharton School with a preference for students who have served as a Peace Corps volunteer.

Emerging Economy Fellowships

Emerging Economy Fellowships are offered to support students from emerging economies throughout the world.

Forté Fellowships

Forte Fellowships are awarded each year to outstanding students who demonstrate exemplary leadership academically, professionally or creatively, as well as a proven commitment to the empowerment of women in education or the workplace.

Friends of Israel MBA Fellowship

This fellowship is a two-year, full-tuition award to Israeli students who have completed Israeli military service, have attended an Israeli undergraduate institution, and/or been employed by an Israeli company for the previous five years. Recipients will comprise a distinctive cohort of five to six fellows each year.

Joseph Wharton Fellowships

Joseph Wharton Fellowships are named in honor of Joseph Wharton, the founder of the Wharton School. These fellowships are awarded to students with outstanding records of academic, personal, and professional achievements.

Judith L. and William G. Bollinger Fellowship

Established in 2006 by William G. Bollinger to provide financial support to the top international students in the Wharton MBA.

Moufid Farra Fellowship

To provide financial support to a graduate student or students at the Wharton School and to support the University’s educational policy of promoting student body diversity, with consideration to applicants from an Arab League member-country (Algeria, Bahrain, Comoros, Djibouti, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tunisia, United Arab Emirates, Yemen)

Prism Fellowship

The Wharton Prism Fellowship will cover full Wharton tuition over the recipient’s time in the Wharton MBA program. This fellowship is awarded to one student who is a member of and demonstrates leadership in support of the LGBTQIA community.

ROMBA Fellowship

The ROMBA LGBT+ Fellowship is a joint effort between The Wharton MBA Program and Reaching Out to develop the out LGBT+ and active ally business leaders of tomorrow. Each Fellow receives a minimum $20,000 scholarship and access to exclusive leadership programming including an all-expenses-paid retreat.

Social Impact Fellowships

Social Impact Fellowships are offered to students with demonstrated leadership in the public and/or not-for-profit sectors.

Corporate and Foundation Fellowships

The following select list of corporations and foundations are fellowship supporters of named Wharton MBA fellowships:

  • Alcoa Inc.
  • American Express Philanthropic Program
  • Bain & Company, Inc.
  • Bank of America Corporation
  • Bechtel Foundation
  • Citigroup Foundation
  • Credit Suisse
  • Daimler Chrysler Corporation Fund
  • Deutsche Bank
  • Exxon Mobil Corporation
  • Ford Motor Company Fund
  • General Mills, Inc.
  • General Motors Foundation
  • The Goldman Sachs Group, Inc.
  • Merrill Lynch & Co., Inc.
  • New America Alliance Institute
  • Pension Real Estate Association
  • Robert A. Toigo Foundation
  • Robert R. Nathan Memorial Foundation

Wharton Fellowships for Current Students

Throughout your time in the MBA Program, additional fellowship options become available to students in multiple areas. These have their own distinct application process, award amounts and criteria.

2nd Year Financial Aid Awards

Established to provide additional financial support to Wharton MBA students in their second year of the MBA Program. The fellowship support will be determined by the Wharton Fellowship Committee based on submitted application and a review of existing loan balances, prior fellowships, and other support received.

Academic Fellowships

  • Ford Fellowship – First year, best student
  • Academic Excellence Fellowship – Terms 2 and 3, best student
  • Inselbag Fellowship – First year (Top 5% eligible)
  • McGowan Fellowship – First year (Top 5% eligible)
  • Director’s List Fellowship – Each semester (Top 10% eligible)
  • Dr. Bruce I. Jacobs Scholars in Quantitative Finance – Second-year, exceptional students in Quantitative Finance Major

Entrepreneurial Awards and Fellowships

  • Penn Wharton Innovation Fund
  • Summer Venture Award
  • Startup Internship Award
  • Edward B Shills / Leonard L Zeidman Fellowship

Leadership Fellowships

  • Behrman Family Fellowships (3) in demonstrated leadership and financial need.
  • Recipient selection process maintained within Leadership Program.

Real Estate Fellowships

Samuel Zell and Robert Lurie Real Estate Center Awards: Committed to excellence in education, the Center awards fellowships and scholarships to promising real estate students.

Whitney M Young Fellowship

Second-year, active member of the AAMBAA community who has demonstrated academic excellence and made outstanding contributions to the achievement of excellence by people of color in the Wharton, University of Pennsylvania and/or greater business communities.

Toigo Fellowships

The Toigo MBA Fellowship provides minority MBA candidates committed to careers in finance with an unmatched network of contacts, a prestigious point of difference in the eyes of employers, one-on-one career guidance, leadership training, a merit award—and more.

MBA Financial Aid Stories

External Resources

Third Party Sponsorships

An organization (i.e. public or private sector sponsor including military agencies, educational institutions, international embassies, or state prepaid tuition programs) can commit to pay your educational expenses. The University of Pennsylvania will bill outside organizations (sponsors) by preparing a separate invoice listing your tuition, fees, and other charges. Third Party sponsorships count in the determination of student loan amount eligibility. Fellowship funding may also reduce the amount of sponsorship funding a student may receive based on funding restrictions.

External Scholarships

We encourage all students to explore scholarship opportunities made available by companies, clubs, organizations, and/or corporations with whom they may be affiliated.

Military Benefits

Yellow Ribbon Program

The Yellow Ribbon Program (YRB) is a provision of the Post-9/11 Veterans Educational Assistance Act of 2008. Wharton offers grant funds through the Yellow Ribbon Program for veterans and is committed to funding all students who are 100% eligible under the Post-9/11 GI Bill®.  You can find details and eligibility guidelines for the Post-9/11 benefits, including the Yellow Ribbon Program, at www.gibill.va.gov.

If you are on active duty or are a veteran, we will waive your application fee; Please call the financial aid office (215) 898-8728 when you’re ready to submit your application.

Eligible applicants may receive a maximum Yellow Ribbon Award of up to $20,000. The Dept. of Veteran Affairs (VA) will match the award amount that we grant. If you are eligible for the Yellow Ribbon Program, you must indicate Yellow Ribbon eligibility by submitting a VA Certificate of Eligibility (COE) to Student Registration and Financial Services.

Post-9/11 GI Bill® is a registered trademark of the U.S Department of Veteran Affairs (VA). More information about educational benefits offered by the VA is available at the official U.S government website at www.benefits.va.gov/gibill.

Wharton MBA Financial Aid Office

MBA Admissions and Financial Aid
The Wharton School
University of Pennsylvania
Vance Hall, Suite 111
Philadelphia, PA 19104.6340

Email: financialaid@wharton.upenn.edu
Website: mba.wharton.upenn.edu
Phone: 215-898-8728

Hours of Operation:  9:00AM – 5:00PM EST, Monday through Friday

Penn Student Financial Services Office

Student Financial Services
University of Pennsylvania
005 Franklin Building
3451 Walnut Street
Philadelphia, PA 19104-6270

Email: sfsmail@exchange.upenn.edu
Website: www.srfs.upenn.edu
Phone: 215-898-1988