University of Pennsylvania (out-of-state)

The sticker price is 81,841, but like other Ivy League Schools, Penn is committed to meeting all the demonstrated needs of accepted students. As a result, the school doesn’t award scholarships, instead wishing to focus on financial aid in the form of grants, which do not have to be repaid. Families who make less than $40,000 a year can expect to have the student’s tuition, room, and board covered. For those making less than $75,000, tuition and room will be paid for.

After a student submits their application for financial aid, Penn takes several aspects into account including the size of the family, income, assets, and any extreme circumstances. Students can also have their applications reviewed if situations change during their years at the university. In addition, 19% receive a federal grant from the government.

Due to their financial aid policy, the University of Pennsylvania ranks well in affordability for state residents.