@Life of Pablo: Not sure what's going on here but I only replied once in this thread and today someone who claimed to be your classmate sent me a PM saying that a lot of what you said is incorrect. Of course I don't know much about Penn besides interviewing there 2 years ago, being accepted and offered the $10k/yr scholarship so I can't really comment. But I do know for a fact that the $160K scholarships are only offered to less than a handful applicants. And if I were you I would be concerned if a "classmate" is following your posts on SDN and go around telling people what you're saying is not correct.
Personally, I still think the $40k scholarship only reduces Penn's COA to $430k, which is still absurdly expensive and not worth it for me. So I ended up attending a state school with that costs me $300k. But again, everyone has the right to express their own opinion here. So Pablo, if you are attending Penn and you love your experience there then it will be worth it for YOU.
On a side note, I am almost certain that the majority of Americans, including dentists and many other health professionals do not know that Penn and Columbia are Ivy League schools. Heck, I even met a lot of people who think University of Pennsylvania is the public university of the state of PA. Therefore, I think the pedigree argument and so-called name factor can only be applied to Harvard. Indeed, if I applied and was accepted to Harvard it would have been a much, much harder decision for me due to the fact that they only accept 37 students every year versus 130 at Penn...