Student Loan Instructions

Overview of Financial Aid

Many Wharton MBA students rely on student loans to cover their cost of attendance. Note that borrowing loans to cover 100% of the student budget will increase your overall debt after graduation.

Educational student loans may be available through the Federal Loan Program or private lenders.  Students may opt to use a combination of the Federal Loan Program and private lenders to cover their cost of attendance. Doing research prior to borrowing could save you money both during school and through the loan repayment period. To calculate an estimate of the size of your monthly loan payments and the annual salary required to manage them, please visit the loan calculator on FinAid.org.

Information for:

U.S. Citizens/Permanent Residents

Keep an eye out for your Admit News e-mails. The Wharton Financial Aid Office will use this tool to alert you of financial aid deadlines along the way.

The student loan instructions below will help you navigate the financial aid process if student loans are required to fund the tuition and living expenses for your first year at Wharton. If the funds are needed to cover the Fall and Spring term billing statements, please be sure to submit all loan applications by the recommended deadline.

The first step when choosing a student loan is to evaluate your financial aid status and determine which loan options (if needed) are best suited for your first year at Wharton. Students typically borrow from one or several loan programs and may select the educational loan provider of their choice.  

Federal Loan Programs

The Free Application for Federal Student Aid (FAFSA) is required to be eligible for federal loan programs.  Visit Student Registration and Financial Services (SRFS) for general loan additional information.

Private Alternative Loan Programs

Students have the option to apply for a private student loan through a bank or financial institution. We encourage students to research and review the interest rates, fees, and repayment plan options associated with any private lender. For more information on Private Alternative Lenders, review this page.

Private Alternative Lenders

ELM Select provides an unbiased comparison of loan products. Students can compare interest rates, repayment terms and more here. Select “Wharton MBA, University of Pennsylvania” then compare loan providers. Note that this is not an exhaustive list of loan products available to students.

International Citizens

Loan options for international students vary depending on if the student has a cosigner who is a US citizen or permanent resident. If an international student does not have this resource available to them, they will have to research private lenders who do not require a co-signer. A few options for International students are listed below. Note – Wharton cannot recommend any specific lender.

The first step when choosing a student loan is to evaluate your financial aid status and determine which loan options (if needed) are best suited for your first year at Wharton. Students typically borrow from one or several loan programs and may select the educational loan provider of their choice.

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. Additionally, international students with US cosigners may be able to access domestic educational student loans.

International Student Loan Information

Lauder Students

In addition to the student loan instructions for the academic year, Lauder MBA students may also be eligible to apply for a student loan for the summer.

Lauder students will receive additional student loan instructions at the end of April. There will also be a financial aid session during the Lauder orientation in May, and the Wharton MBA Financial Aid team will be available to answer questions about this loan and other general financial aid questions.

For more information regarding the Lauder program, students can reach out to lauderinfo@wharton.upenn.edu.

Student Loans/Credit Review Tips

Most private loan programs require some form of credit evaluation of you, and your co-signer if applicable. Therefore, it is critical that you review your credit report and clear up any discrepancies before you even start the financial aid process. We recommend that you obtain a copy of your credit report as soon as possible to get a full understanding of your credit-worthiness and have time to correct any errors.

Where to get a free copy of your credit report