We encourage you to save as much as possible to effectively maximize your experience while reducing overall debt after graduation.
First Year Wharton MBA Budget
The following estimated budget provides the standard costs for the first year of the Wharton MBA program. The budget is based on a 9-month academic calendar from August 2022 to May 2023. Allowances for room, board, books, supplies, and miscellaneous expenses are included in the standard budget.
Please note that these are based on average, reasonable costs, and may not be sufficient to cover lifestyle choices. Students who budget conservatively can reduce the overall cost of the program.
Mandatory charges include:
- Tuition, General Fee, Course Materials Fee, Clinical Fee, and Pre-Term Fee – these charges will appear on your student billing statement and are based on the tuition and fees for the current class.
- Health insurance – assessed to all students unless you are covered under an equivalent policy and can provide proof of insurance. The Health Insurance fee is added to the second student billing statement made available at the end of August.
Joint-Degree Budget and Tuition
If you’re enrolled in Lauder or the JD/MBA program, your budget will vary. For other dual degree programs, consult a Financial Aid team member.
Estimated First-Year Student Budget
| Tuition | $77,500 |
| General Fee | $3,660 |
| Course Material Fee | $1,050 |
| Clinical Fee | $664 |
| Pre-term Fee | $2,000 |
| Tuition & Mandatory Fees | $84,874 |
| Room | $15,030 |
| Board | $7,857 |
| Books and Supplies | $1,710 |
| Transportation | $945 |
| Personal | $4,123 |
| Health Insurance | $4,029 |
| Total Living Expenses | $33,694 |
| Total First-Year Cost of Attendance | $118,568 |
Additional Details
Per federal regulations, student aid can only be used for expenses directly related to obtaining your Wharton degree.
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)
* Students with extenuating circumstances and/or computer purchase can request a budget reevaluation to borrow funds above the set student budget once the Fall 2022 semester has started. Budget increases can only be approved for purposes and amounts that fall within guidelines set by the University and federal law. Please contact the Wharton MBA Financial Aid office by email at financialaid@wharton.upenn.edu for additional information.
How to Pay Your Bill
Timing and procedures for paying tuition.
“Wharton is much more enjoyable if you have a little flexibility in your budget. There are a lot of interesting opportunities that may require additional student financing, such as travel costs for treks or the global modular courses.”
Michael Lemmons, WG17