The Yale College term bill for 2005–6 will be $41,000, an increase of 5.5 percent over the current charge for undergraduate tuition and room and board, the University has announced.
“Along with spending from the endowment and other sources, the term bill will support Yale College’s superb educational opportunities in the classroom, in the residential colleges and around the University,” said President Richard C. Levin. “The college’s generous financial aid program will ensure that Yale remains affordable for all current and new undergraduates.”
Yale College tuition for 2005–6 will be $31,460 and the charge for room and board will be $9,540. Tuition in the current year is $29,820 and the charge for room and board is $9,030, for a total of $38,850.
Yale recently announced enhancements of its undergraduate financial aid program including the elimination of a financial contribution from students’ parents earning under $45,000 a year and a significant reduction in the expected contribution by parents earning under $60,000.Beginning this year, Yale will also provide 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. Yale in recent years has also reduced the contribution that students are expected to make toward their education.
The college admits all students without regard to their ability to pay for their education—a policy called “need–blind” admissions—and meets the full demonstrated financial need of all students. All financial aid offered by Yale is based on need. The undergraduate financial aid budget is expected to total more than $54 million for 2005–6, an increase of more than 12 percent over the current year. About 40 percent of current undergraduates qualify for financial aid grants from Yale, and the average annual institutionally funded grant is $22,000.
