Our Philosophy and Policies

All financial aid at Yale is need based and this policy helps to ensure that Yale will be accessible to talented students no matter what their resources. There are no athletic or merit based awards. The Financial Aid Office is committed to working with families in determining a fair and reasonable family contribution and will meet the full demonstrated need of every student including international students for all four years.

Fundamental to our commitment to meet full need is the expectation that you and your parents together will assume the initial responsibility for meeting the cost of education.

Who Receives Financial Aid?

  • Applicants from a range of socio-economic backgrounds may be eligible for need-based aid. We understand that each family has unique circumstances that may warrant consideration for financial assistance.
  • In the 2008–2009 year, 50% of all Yale undergraduates received need-based aid from Yale.
  • In 2008–2009, 65% of all Yale undergraduates received financial assistance of some kind, be it from Yale or from outside sources, in the form of scholarships, grants, low-interest educational loans, or work-study programs.
  • In the 2008–2009 year, about 50% of all Yale undergraduates worked on campus or with participating non-profit agencies. For the 2008-2009 year, Yale's minimum pay rate for on-campus employment is set at $11.50 per hour.

How Much Financial Aid is Available?

  • In 2008–2009, the average Yale Scholarship was $32,800. Keep in mind that this is only an average. Due to differing levels of family need, Yale Scholarships can range from the very minimum amount of aid offered to scholarships over $46,000.
  • In 2008–2009, Yale provided $90 million in need-based financial aid.

Yale Financial Aid Initiatives

Beginning with the 2008-2009 academic year, Yale has announced a number of financial aid enhancements designed to make a Yale education more affordable to a broader range of students. You can read the press release here.

  • Extends the Zero Parent Contribution to Families Earning Less Than $60,000. In 2005, Yale exempted families earning less than $45,000 from contributing to their child’s education; it also significantly reduced the contribution from families earning less than $60,000. Yale will extend the zero contribution to families earning less than $60,000, with subsidies extending to families earning less than $120,000.
  • Eliminates Loans for Students in Yale College. No student will be required to take out loans to meet the cost of a Yale education. If student is willing to work about 7 hours a week in an on-campus job (Yale’s hourly wage scale starts at $11.50 per hour), he or she can graduate with no debt.
  • Reduces the Assessment on Income and Assets. Generally, the expected parent contribution is established by combining the calculated contributions from income and assets and adjusting that contribution if the family has more than one child in college. Yale will lower the assessment on income and assets and provide an even split of the parental contribution between the siblings.
    • Income Currently, disposable income is the single most important factor in determining the parental contribution. Yale, like other schools, assumes that a portion of parents’ disposable income is available for their children’s educational expenses. Yale will reduce the assessment on parental income across the board.
    • Assets Yale and many other schools also take parents’ assets into account when determining parental contribution. In calculating the parental contribution from assets allowances are made for college savings and emergency expenses.
    • Yale will change its treatment of assets in two ways. First, Yale will exclude the first $200,000 of all assets from the calculation of the parental contribution. Yale will also reduce the assessment on assets above the $200,000 allowance.
    • Siblings Yale makes an even split among the siblings for the parental contribution. For instance, if there are two siblings in school, the parental contribution to Yale will be 50%. For three siblings, the parental contribution will be 33%.
  • Increases Vacation Allowance for International Students. Currently, Yale provides international students an allowance of $400 per year. It covers additional expenses, such as food and lodging. Provides a $1,500 Vacation Allowance for international students to help with expenses during Yale breaks. The University also assists first year international students with the tax implications of their scholarships.

Yale provides undergraduates on financial aid with grant support for summer study and unpaid internships abroad. The level of aid provided by the new International Summer Award Program will be proportional to the generous financial support Yale awards to students during the regular academic year.