With total costs of attendance at one of Penn State’s campuses ranging from between $31,864 and $51,490, the majority of students end up taking advantage of the many financial aid options available.
Navigating the multitude of financial aid and student loan options can be a harrowing endeavor. To help you wrap your head around all that’s available to help pay for an education at Penn State, we’ve outlined what options you have to make a degree more affordable.
How Much Do Penn State Students Pay For Tuition?
Before diving into what options you have to make attending Penn State more affordable, it’s useful to know how much students typically pay.
Students attending Penn State University Park during the 2018 – 2019 school year paid:
| Costs | PA Resident | Non-PA Resident |
| Tuition and Fees | $18,454 | $34,858 |
| Additional Estimated Costs | $13,410-16,632 | $13,410-16,632 |
| TOTAL | $31,864-35,086 | $48,268-51,490 |
Additional estimated costs include room and board, meals, and other miscellaneous expenses the average student is likely to incur. This can vary greatly depending on whether you choose to stay in a dorm, commute to school from home, or prepare your own meals.
Penn State’s Financial Aid & Student Loan Options
Options available to prospective and current Penn State students include scholarships, grants, and federal and/or private loans.
Penn State Scholarships & Grants
There are plenty of scholarships offered by Penn State. As funds are limited, not all eligible applicants receive awards. Some of the Penn State scholarships available this year include:
- The David Schwebel Endowed Memorial Scholarship: This scholarship is open to the children of active, full-time employees of the Schwebel Baking Company or one of its subsidiaries and divisions.
For information on eligibility requirements and how to apply, click here.
- STEVE A. GARBAN GRANT-IN-AID: This scholarship is available to the children of Penn State Technical Service or Staff Employees, and is intended to help pay for room and board for up to two years.
For information on eligibility requirements and how to apply, click here.
- Dolores Bush Scuderi and Richard J. Scuderi Scholarship: This scholarship is available to first-generation students of Polish descent who show superior academic prowess and demonstrate financial need.
For information on eligibility requirements and how to apply, click here.
- Frank A. Sinon Scholarship at Penn State: Only students who graduated from Austin Area High School in Austin, Pennsylvania, who have demonstrated academic prowess and financial need are eligible for this scholarship.
For information on eligibility requirements and how to apply, click here.
- Henrietta M. Fisher Memorial Honor Scholarship: This scholarship is available to residents of Dauphin County, with preference given to students involved in the Reserve Officers’ Training Corps (ROTC).
For information on eligibility requirements and how to apply, click here.
- Laurel Haven Endowment Scholarship: This scholarship is available only to students interested in enrolling in the Department of Ecosystem Science and Management.
For information on eligibility requirements and how to apply, click here.
- Richard J. and Dolores Bush Scuderi Scholarship: First-generation students of Italian descent who show superior academic prowess and demonstrate financial need are eligible for this scholarship.
For information on eligibility requirements and how to apply, click here.
- Employees of Consolidated Freightways Scholarship: This scholarship is available to the children and grandchildren of former Consolidated Freightway employees, who are interested in enrolling at Penn State Harrisburg or Penn State York.
For information on eligibility requirements and how to apply, click here.
- Andrew James Bartels Memorial Scholarship: This scholarship is available to Boy Scouts of America members who successfully achieved either Star, Life, or Eagle rank.
For information on eligibility requirements and how to apply, click here.
- Irene Cheng Memorial Award: MediaTech employees and their children are eligible for this scholarship.
For information on eligibility requirements and how to apply, click here.
- Office of Educational Equity Scholarship: The Office of Education Equity created a scholarship that is available to all who demonstrate financial need.
For information on eligibility requirements and how to apply, click here.
In addition to the above scholarships, there are a few grants you may be eligible for.
There is no need to apply to the Penn State Academic Grant, as you are automatically considered for it as a part of filling out your Free Application for Federal Student Aid (FAFSA).
The Pennsylvania State Grant is available to Pennsylvania state residents, and if eligible, you’ll be able to apply during the online filing of your FAFSA.
Private Scholarships
Don’t forget about the many private scholarships available from outside Penn State. You usually have to seek these out for yourself, though sometimes you may be nominated by your school or another organization you may be a member of.
The scholarship recipient is typically chosen based on academic prowess, financial need, and community/leadership activities.
Most of the time, you’ll want to apply to these well in advance of attending school, as most are awarded between 6 months to a year prior to the start of the semester of the award.
Penn State’s Office of Student Aid recommends the following tools to find the right private scholarships for you:
Federal Grants
Another option available to help pay for your education at Penn State is federal grants.
To be considered for one of these grants, you must first submit the FAFSA. If it is determined that you and your family have financial need, and you have submitted the form in time, you will likely be awarded a federal grant.
Federal grants available now include:
- Children of Fallen Heroes Scholarship: This grant is open to current students whose parent or guardian died in the line of duty as a public safety officer, or to students who were enrolled at the time of their parent or guardian’s death.
For more details on this grant, click here.
- Federal Pell Grant: This grant is available to students who have a demonstrated financial need.
For more details on this grant, click here.
- Iraq and Afghanistan Service Grant: This grant is available to students whose parent or guardian died as a result of military service performed in Afghanistan or Iraq after September 11, 2001, or who was under the age of 24 and enrolled at the time of their parent or guardian’s death.
For more details on this grant, click here.
- Supplemental Educational Opportunity Grant (SEOG): Students who have a high demonstrated financial need are eligible for this grant.
For more details on this grant, click here.
- TEACH Grant: This grant is available to students who plan on teaching at a public or private elementary or secondary school that services students of low-income families.
For more details on this grant, click here.
Federal Student Loans
If scholarships and grants are not enough to cover the cost of tuition at Penn State, your next option is federal student loans.
Need-based and non-need-based loans are available to qualifying students once they’ve completed and submitted the FAFSA.
There are three main options available for federal student loans, including:
- Federal Direct Subsidized Loans: The Department of Education pays the interest on these loans while you’re still in school, so no interest is accrued during this time. The fixed interest rate on these loans was 5.05% for the 2018-2019 school year and is subject to change each year. These loans also come with a 1.059% origination fee.
- Federal Direct Unsubsidized Loans: Interest on unsubsidized loans begins accruing from the date of disbursement, and have the same interest rates and fees as subsidized loans.
- PLUS Loans: PLUS loans are available to both graduate students and parents, with interest rates of 7.08% and origination fees set at 4.236%.
For more information on Subsidized and Unsubsidized loans, see here.
Click here for more information on Graduate PLUS loans, and here for more information on Parent PLUS loans.
Private Student Loans
If you’ve exhausted all of the above options and still come up short on paying for your tuition at Penn State, you have the option of taking out private student loans.
Penn State offers a loan to students with financial need, with a fixed interest rate of 6% and no origination fee. There is no need to apply for this loan, as you are automatically considered for it while filling out the FAFSA.
You also have the option of seeking private student loans from outside institutions such as local banks, credit unions, or online lenders to help fund your education. The specific details vary from lender to lender and differ quite a bit from the other options outlined above. Given the variability, it is imperative that you do your research before committing to a student loan.
