US citizens and permanent residents must file a new financial aid application each year. International citizens may apply only once for an award that will be renewed automatically all four years. For all students, financial aid awards will adjust to increases or decreases in a family’s demonstrated need.
Yale awards all undergraduate financial aid solely on the basis of financial need. Financial need is the difference between the estimated cost of attendance (which includes tuition, room and board, travel expenses, books and personal expenses) at Yale and your expected family contribution. We determine your expected family contribution from the financial aid applications and information that you submit.
We carefully analyze each family’s financial information and calculate the family contribution based on federal and institutional methodologies. The formula that we use measures a family’s ability to contribute toward college costs and considers factors such as: parents’ income; parents’ assets (cash, savings, home equity, other real estate and investments); family size; number of children attending college; student’s income; student’s assets (cash, savings, trusts, and other investments). On a case-by-case basis, we also evaluate a number of other circumstances, such as exceptional medical expenses.
Please visit the website of the Office of Undergraduate Financial Aid. the site includes detailed instructions on how to apply and contact information for financial aid officers.
We reevaluate your financial need each year with current income and asset information by carefully reviewing all of the updated application materials and recalculating the family contribution. Any changes in your family’s financial situation may alter the parent contribution.
Yale’s financial aid policy begins with the premise that parents, even if they are divorced or separated, have the primary responsibility to contribute towards their children’s college education costs. Thus, in order to calculate an expected family contribution and determine a student’s financial aid eligibility, we require financial information from both natural parents. Your financial aid award lists an expected parent contribution that we determined from your parents’ information. Since we could treat the exchange of money between your parents in a variety of ways, we list only a total expectation from your parents. Your family will work together to determine how you will meet the family contribution and we suggest you keep both parents informed about your financial matters throughout the year.
Yale meets 100% of a student’s demonstrated financial need based on the calculated expected family contribution and estimated cost of attendance (which includes tuition, room and board, books and personal expenses). The first portion of a student’s award is student employment awarded as either term-time job or federal work study depending upon eligibility. We consider a student’s eligibility for other financial aid, including the Federal Pell Grant, the Federal Supplemental Educational Opportunity Grant (SEOG), state grants, gift aid from parents’ employers, etc. The University will then fund any remaining financial need with Yale Scholarship, area Yale Club awards, endowed scholarships, and other gift aid from Yale’s alumni and friends.