MBA STUDENT STORIES
How I Paid for My MBA
Wharton MBA Tuition, Cost & Financial Aid Information
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
The estimated first-year budget for the Wharton MBA Program is $115,432, which includes tuition and fees ($83,230), room & board ($21,720), books, supplies, health insurance, and additional personal costs ($10,482). The estimated total program budget is $228,864. Students are responsible for their own housing, meals, and course materials.
First-year budget, 2021-2022
|Tuition and Fees (Includes $2000 Pre-Term Fee)||$83,230|
|Room and Board||$21,720|
|Books, Supplies, Misc.||$6,640|
*tentative rates – based on 2020-2021 budget
Military Benefits – the 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 the Registrar’s Office.
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.
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.
Howard E. Mitchell Fellowships
Established in 1992, in honor of former Wharton professor Howard E. Mitchell, WG ’51, this fellowship is awarded to traditionally underrepresented domestic populations, specifically Black/African American, Latino/Hispanic, Native American/American Indian or Alaskan Native, and Native Hawaiian/Asian Pacific Islander to provide financial support to graduate students of color, based on proven leadership, academic excellence, work experience, and/or demonstrated commitment to empowering traditionally underrepresented groups. Each year, a cohort of students receives full tuition, engages in leadership programming, and joins a large network of other Mitchell Fellows and alumni.
Emerging Economy Fellowships
Emerging Economy Fellowships are offered to support students from emerging economies throughout the world.
Forte Fellowships are awarded each year to outstanding female 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.
The Reaching Out LGBT MBA Fellowship was created as a joint effort between MBA programs and Reaching Out to demonstrate that business schools are the top destination to develop LGBT and active ally business leaders of tomorrow. This is awarded to candidates who self-identify as LGBT and have demonstrated leadership in LBGT related roles either academically, professionally, or in the community.
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.
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.
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.
- 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
- Penn Wharton Innovation Fund
- Summer Venture Award
- Startup Internship Award
- Edward B Shills / Leonard L Zeidman Fellowship
- Behrman Family Fellowships (3) in demonstrated leadership and financial need.
- Recipient selection process maintained within Leadership Program.
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.
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.
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.