For Wharton Executive MBA Students Financial Aid ...

Financial Aid Instructions for Wharton Executive MBA Students (May 2022 ? May 2023)

OVERVIEW OF FINANCIAL AID Many Wharton Executive MBA students rely on student loans to cover the Wharton tuition and fees for the six enrolled terms. Borrowing loans to cover 100% of the tuition and fees will increase your overall debt at graduation. Doing research in advance of borrowing could save you money during school and through loan repayment. To calculate an estimate of the size of your monthly loan payments and the annual salary required to manage them without too much financial difficulty, please visit the loan calculators on .

TUITION INFORMATION The tuition and fees for the first year of the Executive MBA Program is $105,450. The first-year cost of the program is divided into three equal payments and if borrowing student loans, the loan disbursements will be divided into three equal payments.

The first term bill will be available on May 5, 2022 and can be viewed on Penn.Pay. Penn.Pay is the University of Pennsylvania's electronic billing system and offers real time detail charges and payment options.

STUDENT LOAN INSTRUCTIONS If you are an international student who is neither a dual U.S. citizen nor a U.S. permanent resident, we encourage you to investigate all sources of funding within your home country, including government and private scholarships and loans.

Listed below are examples of the current loan offerings available to Wharton Students.

Suggested Deadline: In order for a temporary credit for one third of the loan amount(s) to be posted to your Summer 2022 bill, please submit all loan applications between May 1, 2022 and May 15, 2022.

PRIVATE ALTERNATIVE LOAN PROGRAM Private Alternative loans are not subsidized; they generally have tiered and fixed interest rates and fees, both based on your credit score. In addition, some private alternative loan lenders may require an eligible U.S. citizen or permanent resident cosigner for international borrowers. The Wharton MBA Financial Aid Office does not recommend the best private alternative loan option and you must do your research and compare loan programs.

All Other Private Alternative Lenders

? Interest Rate: 3.6% to 12% ? Origination Fee: 0% to 4% ? Loan Limits: Up to the cost-of-attendance budget minus any other financial aid ? Loan Period: May 2022 to May 2023 (Summer 2022 to Spring 2023) ? Applications for a private loan must be completed each year of the

program and the maximum loan amount you may borrow for the first year of the program is the first three terms.

ADDITIONAL LOAN INFORMATION ? The University's central Student Loans Office will start processing loan applications for the upcoming year May 1, 2022. You will receive a confirmation email after the University's central Student Loans Office processes your loan request and can view the status on the Penn Loan System.

? The maximum loan amount you are eligible to borrow is the total tuition and fees per academic year of the program. If applying for a student loan to cover all tuition and fees for the first year of the program, then the University Loan Office will automatically schedule three equal disbursements.

? It generally takes 4-6 weeks to receive the student loan disbursement after applying for a student loan. All loan disbursements are sent directly to the school and credited to your bursar account approximately five days before the start of each term (the summer loan disbursement is typically received in the beginning of June).

? If your billing account has a credit due to an overpayment, please register for Direct Deposit to receive the account credit electronically deposited into your bank account.

? If you miss a payment by the bill's due date, you will be assessed a late payment penalty of 1.5% on your past due balance.

OTHER FUNDING OPTIONS:

New this year: Wharton Financial Aid will be helping to coordinate VA/Company Sponsor benefits and application to student accounts. Please complete the forms below if receiving Veterans Benefits or Company Sponsorship:

? Veteran Benefits: If you are eligible for Veteran Benefits and wish to apply those to the MBA Program, please contact the veteran's team at veterans@upenn.edu.

? Third Party Sponsorships: If a company is sponsoring all or part of your education, please complete the Company Sponsorship Form.

If you have any questions regarding the financial aid process for next year, or any other financial aid related topics, please contact the Wharton MBA Financial Aid Office at 215-898-8728 or by email at financialaid@wharton.upenn.edu.

Best Regards, The Wharton Financial Aid Team

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