“We want to attract the most promising students from all economic backgrounds to Yale.”

- Richard C. Levin, President, Yale University

We believe that a Yale education should not be limited to only those who can afford the full cost of attendance. By committing to an admissions policy that does not consider a student’s ability to pay, and by meeting the full financial need of all admitted students (with no loans required), we ensure that Yale is accessible to the most talented students from around the world, regardless of their family’s income. With this pledge, we strive to create a learning environment that incorporates the widest possible range of student backgrounds.

In addition to the resources here, prospective students and their families should explore the detailed information available from Student Financial Services, including the Yale Net Price Calculator. This simple web-based tool can estimate your family’s eligibility for need-based aid and generate a sample Yale award in only a few minutes.

We know that the financial aid process can seem complicated and even a bit daunting. But rest assured that we are here to help. You can use the resources here to familiarize yourself with the process. And if you are considering applying to Yale – or if you are currently in the process of applying – you are welcome to contact Student Financial Services directly with your questions. 

• Yale Financial Aid 101

• The Yale Financial Aid Package

• How to Apply for Aid

• Financial Aid Discussion - Video

• Case Studies

Yale Financial Aid 101:

• Yale is committed to a need-blind admissions policy and meets 100% of demonstrated need for all students regardless of citizenship.
• Yale does not require students to take out loans for their education. Instead, Yale meets 100% of demonstrated need for all admitted students with a financial aid package consisting of need-based scholarships, term-time employment, and a student income contribution.
• The average Yale Scholarship grant for members of the Class of 2015 was over $38,000 for the 2011-2012 school year.
• The total cost of attendance at Yale in 2011-2012 is $55,850, which includes tuition ($40,500), room ($6,700), board ($5,500), and books and personal expenses ($3,150). Total cost of attendance (not just tuition) is used to calculate a student's need-based financial aid award.
• Roughly 57% of Yale students receive need-based financial aid.
• Families whose total gross income is less than $65,000 are not expected to make any financial contribution towards their child’s Yale education. 100% of the student’s total cost of attendance will be financed with a Yale Financial Aid Award.
• Families earning between $65,000 and $130,000 (with typical assets) annually contribute on average 10% of their yearly income towards their child’s Yale education, on a sliding scale.
• Families earning between $130,000 and $200,000 (with typical assets) annually contribute on average 15% their yearly income towards their child’s Yale education, on a sliding scale.
• There is no strict income cutoff for financial aid awards. Many families with over $200,000 in annual income receive need-based aid from Yale.
• Yale protects the first $200,000 of a family’s assets when calculating Expected Family Contribution.

The Yale Financial Aid Package

Similar to admission to Yale, which includes a holistic evaluation of all parts of the admissions application, applying for financial aid at Yale is a highly individualized process. Financial aid officers review every student’s aid application carefully to ensure they understand each family’s individual financial situation. While each financial aid award is tailored to a specific family, here’s a general introduction to what you can expect from a Yale financial aid package.

The Award

Every financial aid calculation consists of three interconnected parts:

1. Cost of Attendance: Tuition, room, board, books, travel expenses and personal expenses for one Yale student for one full academic year.
2. Expected Family Contribution: The amount a student’s family is expected to contribute towards the cost of a Yale education. Yale financial aid officers calculate this number every year based on the information you provide.
3. Demonstrated Financial Need: The amount that remains after a family’s Expected Family Contribution is subtracted from the Cost of Attendance.

Cost of Attendance - Expected Family Contribution = Demonstrated Financial Need

Meeting Demonstrated Financial Need

A Yale financial aid award will meet 100% of a student’s Demonstrated Financial Need using two components:

1. The Student Self-Help Contribution – which students typically fulfill with term-time work of about nine to ten hours per week. The self-help contribution is $3,000 per year for the 2011-2012 academic term.
2. The Yale Scholarship - covering the full amount of the remaining balance.

No loans are ever required

The Self-Help Contribution is typically met by working on Yale’s campus, where minimum wage is currently $11.75 an hour. Student jobs are available in academic departments, laboratories, and administrative offices on campus.

The Yale Scholarship is a need-based grant from the university. This can vary from a few thousand dollars to over $45,000 per year. Over 53% of the Class of 2015 received a Yale Scholarship. Their average award was approximately $38,000 for the 2011-2012 school year. 

Funds from outside merit-based scholarship awards can be used to reduce or eliminate a student’s Self-Help Contribution and the Student Income Contribution (see below). Funds from need-based or entitlement sources such as the federal Pell Grant, state grants, and tuition benefits or grants from a parent’s employer are applied in conjunction with the Yale Scholarship and do not reduce student’s Self-Help Contribution or the Student Income Contribution.

Understanding Expected Family Contribution (EFC)

Yale calculates EFC using its own methodology. This takes into account more variables and results in significantly lower EFCs for lower- and middle-income families when compared with those generated by the FAFSA or College Board calculator alone. The Yale formula 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)

Yale also evaluates other circumstances, such as exceptional medical expenses, on a case-by-case basis.

The Expected Family Contribution is broken down into three parts:

1. Parental Contribution: The amount parent(s) or guardian(s) are expected to pay towards a student’s Yale education. 
2. Student Income Contribution: A predetermined student contribution that can be met with summer earnings. This contribution may be waived for students completing an international experience or unpaid internship over the summer. Outside scholarships may also be used to fulfill this requirement.
3. Student Asset Contribution: Students with their own financial assets will be asked to contribute 25% of those assets each year.

How to Apply for Aid

To apply for aid, most prospective students and their families will need to send three documents to the Student Financial Services Office. See the detailed instructions on the Student Financial Services website for more information.

1. The Free Application for Federal Student Aid (FAFSA) Yale’s FAFSA code is 001426
2. The College Board CSS Profile Application Yale’s CSS Profile code is 3987
3. Signed copies of your parents’ 2011 federal tax returns submitted through the College Board’s Imaging and Documentation Service.

There is no deadline to apply for aid, but we strongly recommend submitting these documents before March 1st to ensure that, if admitted, you have an award letter generated before making your matriculation decision by May 1st. 

Financial Aid Video Discussion

On October 18, 2011, Caesar Storlazzi, Director of Financial Aid at Yale, and Debra Johns, Associate Director of Undergraduate Admissions, sat down to discuss Yale's generous financial aid policies. The session also answered questions sent in by online viewers. Couldn't join us live? Check out a recording of the informative session below (~45 minutes).

Case Studies

Remember that financial aid at Yale includes a holistic evaluation of a family's individual financial situation. These case studies give an approximation of how financial aid is awarded at Yale, but each financial aid award will be tailored to a family's specific situation.

Here is a quick look at how some hypothetical students and families are paying for their Yale education: