A Message to Undergraduate Students Regarding Summer Savings Grants
April 21, 2020
Around the world, individuals, families, businesses, and institutions are facing the immediate financial impact of the COVID-19 pandemic. We know that many of you have concerns about the summer. While some employers continue to offer remote work—including Penn’s summer work-study program—various other opportunities are no longer available, leaving undergraduate students and their families who are eligible for need-based financial aid without essential summer income that they had been anticipating.
To help mitigate the loss of this expected income, Penn will provide all undergraduate students whose financial aid packages include a summer savings expectation with a supplemental COVID-19 Summer Savings Grant for the 2020-2021 academic year. This increase in financial aid applies to both incoming and returning aided undergraduate students and will replace the entire amount of a student’s summer savings expectation.
Aided undergraduate students do not have to take any additional steps beyond completing their standard financial aid application to receive this increased funding in their 2020-2021 packages. Eligible students will see additional grant funding reflected on their award for next year.
Penn is one of the few institutions that can continue to provide undergraduate students with grant-based financial aid. While also working to find ways to balance our budget, we are committed to adjusting our practices to meet this moment and provide additional support wherever possible.
We send our best wishes to each of you and your families. Please stay safe and well.
Amy Gutmann, President
Wendell Pritchett, Provost
MaryFrances McCourt, Vice President of Finance and Treasurer