In these uncertain economic times, planning to finance a graduate school education can be challenging. However, there are resources and tools that make a graduate degree at Penn SP2 accessible and affordable!
The School of Social Policy & Practice (SP2) at the University of Pennsylvania is committed to helping you navigate this process. Approximately $3 million in tuition assistance is awarded annually for our Master’s degree students in the form of grants from the school. Last year, over two-thirds of our Master’s degree students received tuition assistance directly from the School. Eligibility for these grants and scholarships is based on information provided on the application for admission by students that indicate that they would like to be considered for aid. Students are admitted regardless of their financial need. Most SP2 students finance their education through a combination of grants from the school, federal educational loans and other sources.
Many students will qualify for flexible loan repayment and forgiveness programs. Nearly all students are able to obtain additional funding through federal loan programs which qualify for Income Based Repayment, a repayment plan that caps monthly loan payments based on income, making the cost of financing a Penn SP2 education affordable. Many students will also qualify for Public Service Loan Forgiveness; students working in public service fields, such as social work and social policy, are able to have a significant portion of their educational debt cancelled tax free. The Federal Government recognizes the high value of obtaining an advanced degree and in order to invest in our future has developed the aforementioned options. This commitment has been recently reaffirmed by the Obama Administration’s announcement of the Pay-As-You-Earn Plan! These options are available to both Doctoral students and Masters students. More information on this program can be found on the White House press release. More information on Income Based Repayment and Public Service Loan Forgiveness can be found at www.ibrinfo.org.