Office of Admissions and Financial Aid >

Financial Aid

Understanding And Paying Your Bill

It is important for you to read the insert that accompanies your term bill. The following information will give you an understanding of how funds are applied to your account.


The following will appear as charges on your account each semester.


General Fee

School Technology Fee

Lab Fee/Disability Fee (only charged in the fall semester)

Penn Student Insurance Plan (PSIP) - is mandatory but can be waived by submitting proof of insurance to the Office Of Student Health.

Clinical Fee - All full-time students are required to have insurance coverage, this fee gives all students access to Penn Student Health Office. The clinical fee is automatically posted to the account each semester.


The following items would show up as a credits on your account each semester.

Scholarships, fellowships, and research and teaching assistantships and departmental grants: If you were awarded any of these funds, credit will be applied to your student account in accordance with the instructions provided.

Institutional Loans: Credit will be applied to your student account provided that the promissory loan note(s) and supporting documents have been properly signed and returned to Student Financial Services after Orientation. Half of your award will be credited to your Fall student account and the other half toward your Spring student account.

Direct Loans, Direct PLUS Loans, and Alternative Loans: Most loans are disbursed to your student account via electronic funds transfer (EFT).

Payment through the Penn Monthly Budget Plan: If you enroll in the Penn Monthly Budget Plan, a credit for half the amount you budgeted will be applied to your student billing account once each semester, assuming you have met all terms and conditions. Detailed information on this program can be found at


The University bills students through an electronic billing system called Penn.Pay. You will be notified by email, at your University assigned email address when your new monthly statement is available for viewing. Penn.Pay enables you and other payers you authorize (parents, grandparents, etc.) to receive your monthly billing statements over the web. If you have a U.S. bank account, you can submit payments online, using an electronic interface with your bank. This paperless system provides you with the convenience of web-based electronic payments at no additional cost. Or if you prefer, you may print your payment coupon from and mail a check to the Student Financial Services lockbox. American Express is also accepted as form of payment; if you elect to use this payment method, you will be billed a convenience fee on your cardholder statement. Penn does not receive any portion of the convenience fee. Your billing and Penn.Pay history are kept online for six months for your reference. For more information, visit the SFS website at:

Billing Schedule

  Bill Delivery and Mechanism Bill delivered/mailed Due Date
Fall Term Incoming Students: July/August paper bill and e-bill when applicable
Continuing Students: e-bill only
June 30, 2015 July 29, 2015
Spring Term e-bill only December 1, 2015 January 7, 2016
Monthly After September 1, 2015 e-bill only    

Late Payments

A late payment penalty of 1.5% of any past-due balance will be assessed monthly. A past-due balance may also result in your student account being placed on financial hold. If left unresolved, financial hold can restrict future registration, receipt of your diploma and academic transcripts.

Student Financial Services / Penn Card Program

The SFS/Penncard program extends you a $1,000 line of credit which can be used at the Penn Bookstore, Computer Connection, Wharton Reprographics, PSA Commissaries and academic transcripts. It also extends to you a $4,000 one-time annual line of credit for purchasing a computer from the Computer Connection. These charges will be billed monthly via your student account.

Temporary Credits on Your Bill

If you submitted your FAFSA, all the required supplemental forms and filed a Direct Loan Master Promissory Note and/or submitted loan applications for the Direct Grad PLUS or other alternative loan program by June 22, 2015, a temporary credit for half of the loan amount(s) will be posted on your Fall 2015 bill. Students applying for loans after June 22, 2015 may request a temporary credit directly from Student Financial Services. To request a temporary credit, email Student Financial Services at stating that you have submitted an application for a Direct Loan, Direct Grad PLUS, or other alternative loan funds. The temporary credit will be limited to one half (the Fall term portion) of your pending loan. You must pay any balance due after adjusting your bill for the Fall portion of your loan. All temporary deferments will be removed by early October, or when the actual credit is received, whichever is earlier.

Refund Procedures and Direct Deposit Program

Students are entitled to a refund if their actual financial aid (excluding temporary credits) exceeds their billed charges (i.e. tuition, fees, insurance, etc.).

The University of Pennsylvania strongly encourages students to enroll in direct deposit to expedite payment from University employment or refunds from financial aid funds. You can enroll online at Penn In Touch. Remember: Your checking or savings account must be with a U.S. financial institution; for a list of local banks visit our website.

Note: Before spending your credit refund, it is your responsibility to make sure you have paid all University charges. It is
possible, for example, that you may receive a credit refund before your University Student Health Insurance is charged to
your tuition account.

Page Updated: 10-Jun-2015