The University of Pennsylvania said Wednesday it had accepted 3,830 students out of 26,398 who applied for admission to the class of 2014.
The acceptance rate of 14.5 percent is the lowest in the Ivy League school’s history. It accepted about 1,200 students through its early decision program, in which applicants agree to attend Penn if they’re accepted. Its targeted enrollment for the class is 2,420, meaning it has accepted more students than it anticipates will enroll.
Penn has pledged to provide all students who have financial need with loan-free financial packages. It will spend more than $130 million on financial aid for all its undergraduates in the 2010-11 academic year.