Budget and Tuition

Financing Your MBA

Information regarding Tuition, Fees, Fellowships, and more. The information below is current and pertains to tuition and fees for currently enrolled students.

Wharton MBA 2022-2023  Student Budget

WG 23 (Second Year)WG 24 (First Year)
Tuition $77,500$77,500
General Fee$3,660$3,660
Course Material Fee$1,050$1,050
Clinical Fee$664$664
Pre-term Fee - $2,000
Total Tuition & Fees$82,874$84,874
Room $15,030$15,030
Board $7,857$7,857
Books and Supplies$1,710$1,710
Transportation $945$945
Personal $4,123$4,123
Health Insurance $4,029$4,029
Total Expenses$33,694$33,694
Total MBA Cost$116,568$118,568

Wharton MBA/Lauder MA Student Budget

WG 23 (Second Year)WG 24 (First Year)
Lauder Summer Tuition-$11,500
Lauder Academic Year Fee$16,200$16,200
Total Tuition & Fees$16,200$27,700
Summer Lauder Living Expenses-$8,754
Total Expenses$16,200$36,454
Total MBA/Lauder Expenses$132,768$155,022

The Cost of Attendance for the MBA program assumes a 9 month budget for First and Second-Year students.

Tuition: Covers full-time attendance at the Wharton School.
General Fee: A General Fee is assessed to all undergraduate, graduate, and professional students, and directly funds Penn’s non-instructional student support services. The General Fee for full-time students provides them with full access to a wide variety of services and resources, including counseling and wellness, multicultural resource centers, student activities, recreation and fitness, career services, learning support, and much more.
Health Insurance: Mandatory unless covered by an outside agency.
Room and Board: Reflects an average off-campus shared residence.
Books, Supplies & Miscellaneous: Includes required texts and classroom supplies, telephone service, transportation, entertainment, laundry, clothing and other general personal items.
Course Materials Fee: This includes the cost for required online course materials.
Pre-Term: Mandatory Pre-Term fee applies only to the first year of the program.
Clinical Fee: This fee is mandatory for full-time, non-dissertation status students and for students enrolled the Penn Student Health Plan (PSIP).

The student budget can be increased to cover the following expenses:

  • Global Immersion Programs (GIP)
  • Global Modular Courses (GMC)
  • Fall Semester in San Francisco
  • Personal Medical Expenses above Insurance
  • Child care expenses
  • Computer purchase up to $2,000 (one time only)


The MBA program is a full-tuition program. This means that: (a) you normally pay full tuition in each semester regardless of your course load, and (b) you must pay at least four semesters’ full tuition and fees before you can graduate (exceptions exist if part of an approved dual degree program).  For four semesters’ tuition and fees, you are allowed a maximum of 21 CU before graduating from the MBA program. If with the permission of your academic advisor you carry a course load beyond 21 CU, you will be billed a tuition surcharge. The tuition surcharge will be $8,158 per CU for the 2022-2023 Academic Year. Course loads of less than 21 CU do not entitle you to a tuition rebate. All 21 credit units must be taken before graduation. Once you have graduated, you cannot return to use these credit units. You are responsible for counting the number of credits taken. You may consult with an academic advisor for assistance.

Summer Courses

If you take classes between your first and second Academic Years, you will be billed upfront based on the number of CUs taken.  If your total credit load in the MBA program does not exceed 21 CU, you will be credited the portion paid over the summer in your final Spring Term bill.

If you take classes in the summer term following your second Academic Year, you will not be billed additional tuition, assuming the 21 CU cap is not exceeded.  Otherwise, you will be billed based on the number of CUs in excess of 21 CUs during that Summer term.

Students who elect to take summer courses will be responsible for the general fees as assigned by the University of Pennsylvania.


The Wharton MBA Financial Aid Team provides counseling on the financial aid process, loan options, funding sources, and other general financial aid questions. If you would like to make an appointment with a Wharton Financial Aid Advisor, please visit the Financial Aid Appointment Scheduler today to schedule an appointment. 

Wharton MBA Financial Aid Office
111 Vance Hall
University of Pennsylvania
Philadelphia, PA 19104-6361

Financial Aid: (215) 898-8728
Fax: (215) 898-0120
E-mail: financialaid@wharton.upenn.edu

Student Financial Services (SFS)
(Financial aid information, student bill questions, status of student loan applications/disbursements, counseling in financial assistance programs)
100 Franklin Building
University of Pennsylvania
Philadelphia, PA 19104-6270
Phone: (215) 898-1988
E-mail: sfsmail@sfs.upenn.edu
website: www.upenn.edu/sfs