Student Loans for Yale Students
About Yale University
Yale University is the third oldest university in the country, and is one of the most prestigious institutions of higher learning in the world. The second oldest member of the Ivy League, Yale is home today to 12 colleges, more than 1100 faculty members, and an enrollment of over 11000 students from all corners of the world. 49 Nobel Laureates have been students or faculty members at Yale, and notable alumni include 5 US Presidents, 19 Supreme Court Justices and several international heads of state. When it comes to research, the university is world-class. Though New Haven isn’t the nicest city around, Yale’s campus is a beautiful enclave that looks like it was made for a postcard. Truth be told, there’s not much to dislike about it.
Yale University practices need-blind admissions, meaning a student’s need for financial aid is not taken into consideration when he or she is being evaluated for acceptance. 57% of undergraduate students receive Yale financial aid, and over $117 million is granted annually to Yale students, covering 100% of demonstrated financial need for all undergraduates. Given the university’s unique position as a very old, very prestigious, and very wealthy institution (its current endowment is about $19.4 billion), the university is able to support a very robust Yale financial aid program. If you are fortunate enough to be accepted to Yale and you demonstrate financial need, you can rest assured it will be met.
Applying for Yale Financial Aid
In order to apply for Yale Financial Aid, students must notify the financial aid office of their application, file the institution-specific Yale Application for Undergraduate Financial Aid, and also complete the Free Application for Federal Student Aid (FAFSA). These forms can be filled and submitted online, and are pretty straightforward. Before beginning these applications, it’s important for students to have their or their parents’ federal tax returns and other financial records at hand. Students can also fill out a Bio Questionnaire, which allows the university to match them with appropriate donors for scholarships and grants. If you have any questions during the process, simply contact the Student Financial Services office. Once your application for financial aid is submitted, it can be tracked online, and once it is approved, you will receive your aid package.
Student Loans: Making up the Difference
Yale Financial Aid consists of a variety of aid forms, and Yale aid packages prominently feature grants, scholarships, and on-campus jobs that are not affiliated with a federal work-study program (and that have a minimum wage of $11.75/hour!). Students can also avail outside scholarships and grants. The University does not offer loans unless specifically requested, and a number of loans, including Yale Student Loans, Federal Direct Loans, and Perkins Loans. If you find yourself in the need for more money, try out our private student loan comparison tool and see which loan best suits your needs.
Frequently Asked Questions
Q:Are Yale scholarship programs available for international students?
A:Yale University provides all kinds of scholarship to all kinds of students. These scholarships are either need or merit based, and are aimed at helping students better afford their education. Foreign students can apply for Yale scholarships that have been specifically designed for them. The details for these scholarship programs are available online or at the university’s financial aid office.
Pay for Yale University*
|Total Avg. Cost||$55,300|
|Room & Board||$11,000|
|Financial Aid Information|
|Students Receiving Fin Aid||69%|
|Typical Grant Amounts|
|Avg. Other Stud. Loans||$10,855|
|%Receiving Other Loans||5%|
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*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics