Federal Loans

Students who meet federal eligibility requirements are able to borrow under one or more of the loan programs described below. Eligible students are: U.S. citizen or permanent resident; registered with the Selective Service, if required; enrolled at least 1/2 time in a degree-granting program (Division of Special Registration Students are NOT eligible); not in default on previous student loans. The amount students may borrow through the Federal student loan programs may not exceed the total cost of education minus financial resources. According to current regulations, financial resources include all types of financial aid (fellowships, grants, teaching fellowships, etc.) plus a student contribution calculated in part on the adjusted gross income shown on 2006 U.S. Income Tax returns. The amount of the student contribution is determined by a need analysis formula developed by the Federal Government.

To Apply for Federal Loans the following documents are required:

1. FAFSA
2. 2006 Tax Return with all attachments
3. Yale Graduate School Financial Aid Application

The completed Yale Graduate School Financial Aid Application and your 2006 Federal Tax Return with all attachments should be sent to:

Yale University Graduate School
Financial Aid Office
P.O. Box 208236
New Haven, CT 06520-8236

The FAFSA is the 2007-2008 Free Application for Federal Student Aid. Using information provided in the FAFSA application, the processing center will send the results directly to the Financial Aid Office via electronic data exchange.

To facilitate this exchange, students must identify the Yale University Code (001426) as a recipient on the FAFSA application form. Note that under Federal regulations graduate and professional students are considered independent for purposes of awarding need-based loans. Accordingly, information about parental income or assets is not required and should not be provided. When a student is married or expects to be married during the academic year, the spouse's income is considered in any analysis of need. Federal loan programs include both subsidized and unsubsidized loans. Students eligible to borrow subsidized loans accrue no interest while they are in school. Students eligible to borrow unsubsidized loans are responsible for paying the interest accrued while they are in school. In either case, repayment is deferred until after the student borrower has graduated or otherwise terminated enrollment in a degree-granting program. (This deferment is normally available for all outstanding federal student loans, even for those borrowed prior to matriculation in the Yale Graduate School. The Federal Student Loan Programs are briefly summarized below. More information can be obtained from the Department of Education.