Unlike other Ivy League universities, University of Pennsylvania’s Graduate School of Arts and Sciences has no plans of making significant budget cuts, reports a Daily Pennsylvanian article last week.
Yale University, on the other hand, plans to cut graduate enrollment by 10-15% in the coming academic year; Columbia University has similar plans.
The DP article states that SAS’s “budget modifications” correspond more to the job market and student enrollment than to the deficit and endowment fluctuations. In general Penn relies less on endowments than its peer schools.
Each Penn grad school has different budget modifications, but there’s one thing that they all have in common: the commitment to making stipends available.
“We’re competing for the top students in the world, and in that competition, one clear area is in the level of stipends,” explains Andrew Binns, Associate Provost for Education. “We’re doing everything we can to make sure that we can attract the best graduate students possible.”
Related, Penn undergraduate tuition next year will rise to $51,944, an increase of 3.9%. To help students manage these fees, the financial aid budget will also increase, by 11% ($15 million). Yale, Dartmouth, and Cornell have all increased their total charges by 4% or higher this year.
Related Accepted.com Resources:
- Financing Your Future, an ebook.
- “5 Fatal Flaws to Avoid,” an ecourse
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Read the full article: University of Pennsylvania Graduate and Undergraduate Financial Update