Penn to Increase 2019-2020 Tuition to $100,000 Because 'It Was Going to Happen Eventually'

Penn will raise its undergraduate tuition to $100,000 next year, the Board of Trustees announced Tuesday.

Though the 46 percent increase surprised many students and faculty, Vice President of Finance and Treasurer MaryFrances McCourt said the increase makes perfect sense. “You guys all knew we were going to get there eventually,” she said. “We’re just ripping off the band-aid instead of peeling it slowly.”

Wharton Sophomore Mary Callahan said that while she was initially angry at the steep tuition hike, the idea has grown on her. “At first, when I heard we were going to have to pay a tenth of a million dollars for a year of education, I was kind of mad. It seemed like a lot of money. But I realized that these four percent increases were inevitably leading to that hundred thousand price tag, and I appreciate that they’re not teasing us anymore,” she said.

President Amy Gutmann was another supporter of the tuition increase, saying, “All the extra money goes into my salary. You bet your peasant ass I’m in favor of it.”