The University of Pennsylvania is also featured in our ranking The Top 10 Business Schools.
The University of Pennsylvania was founded in 1740 when an evangelist began a charity school in Pennsylvania in hopes of also building a house of worship. In 1749, Benjamin Franklin brought his idea to for an institute of higher learning to the people in his essay “Proposals Relating to Education of Youth.” He circulated his essay among leading citizens to drum up support and appointed a trustee board. In 1749, the trustees purchased the charity school to use for Franklin’s university. The Academy and Charitable School in the Province of Pennsylvania opened in 1751.
Franklin’s dream was to prepare young men for positions of leadership with a focus on government and business. This was different than other institutions of the time which educated young men for Christian ministry. The curriculum Franklin developed was similar to today’s liberal arts curriculum.
In 1755, the College of Philadelphia was chartered and consisted of three schools. These included the academy, charity school and college which were all controlled by the same board of trustees. The charity school only lasted a few years and, in 1779, the University of the State of Pennsylvania was created by the state legislature as it was believed leaders of the College of Philadelphia had loyalist tendencies. In 1791, the two schools were merged to become the University of Pennsylvania.
In 1872, property was purchased on the other side of the Schuylkill River and the school moved from downtown Philadelphia to what is now known as University City. The founding date of the University of Pennsylvania is 1740. This date coincides with the original college that was purchased by the university in 1751, making it older than Princeton which opened in 1746.
The University of Pennsylvania created the first business school, Wharton, in 1881. There are 25, 367 students enrolled at the University of Pennsylvania. The University of Pennsylvania is ranked highly in Kiplinger’s Best Values in Private Universities as the school works to make higher education possible for all students, regardless of their economic circumstances.
University of Pennsylvania Online Degree Program(s) Available
Bachelor of Science in Business
The University of Pennsylvania offers a Bachelor of Science in Business that is available completely online. Students gain a broad understanding of business disciplines, including accounting, finance, management, and marketing. Students learn to maximize marketing strategies and analyze data to solve problems. Students gain an understanding of capital risk and reward metrics as well as how to use finance and aaccounting to make decisions. Students learn how to execute contracts and communicate effectively about organizational issues. Students can concentrate their studies in the following areas:
- Financial Services
- Health Services
- Management and Marketing
Students may also create an individualized concentration by drawing on coursework from various disciplines. Courses that may be required include:
- Basic Management Concepts
- Contemporary Skills for Business Professionals
- Corporation Finance
- Financial and Managerial Accounting for Decision-Making
- Individual and Interpersonal Effectiveness for the Business Professional
- International Business Operations
- Introduction to Business Information Systems
- Introductory Macroeconomic Analysis and Policy
- Introductory Microeconomic Analysis and Policy
- Preparation for Career Management
- Principles of Marketing
- Project Management
- Strategic Business Planning
- Supply Chain Management
University of Pennsylvania Accreditation Details
The University of Pennsylvania is accredited by the Middle States Commission on Higher Education. This indicates that students are provided the highest quality education as determined by criteria set by the Commission. It also indicates that the university has the resources to meet its goals and that they work to improve any area that is identified as needing improvement during periodic evaluations.
The Wharton School of Business at the University of Pennsylvania is accredited by the Association to Advance Collegiate Schools of business.
University of Pennsylvania Application Requirements
Students who do not have college credit that was earned after high school graduation enter the University of Pennsylvania as freshmen. They must complete the Common Application and provide official high school transcripts along with official ACT or SAT scores. Two teacher recommendations are also required.
Students who have college credit earned after high school graduation may be entered as transfer students. In addition to the Common Application, they must provide official college transcripts from any colleges and universities attended. A college report is required along with an official high school transcript and two academic recommendations. Students who have taken the ACT or SAT within one year of applying must also provide official scores for those tests as well.
The online Bachelor of Science in Business is designed for students who have a minimum of 29.1 credits with a 2.0 GPA or higher or those who have already earned an associate’s degree or the first two years of a business degree. Students must also have completed one of the following courses:
- Algebra, Trigonometry and Analytic Geomoetry
- Calculus with Analytic Geometry
- College Algebra II and Analytic Geometry
- Techniques of Calculus
- Trigonometry and Analytic Geometry
Students must provide official high school transcripts and official transcripts from all colleges and universities attended.
Graduate admission policies vary with each program. Students must apply directly to the graduate program they wish to enter using the online application available at each school’s website.
The University of Pennsylvania Tuition and Financial Aid
Full-time undergraduate tuition at the University of Pennsylvania for is $47,416 for full-time study each year. Graduate tuition varies depending on the degree program the student chooses. Tuition for the online Bachelor of Science in Business program is based on the credits already earned. Students who have 59 or fewer credits pay $555 per credit hour while students who have 60 or more credits pay $596 per credit hour.
Financial aid is available, and the average financial aid package is $44,772. The University of Pennsylvania follows an All-Grant Policy and is the largest school to follow such a policy. Students who receive a financial aid award are provided with grants and work-study, but loans are not included.
As the oldest institute of higher learning in the United States, the University of Pennsylvania strives to maintain its reputation for outstanding education. From the innovative teaching methods of Benjamin Franklin to today’s online programs, the University of Pennsylvania continues to allow working adults and others who may have obstacles to higher education achieve their goals, allowing them to move into a new career or advance in a current career.