Yale admits 761 Early Action applicants; expands financial aid

Yale College announced it has accepted 761 of 5,257 early action applicants for the Class of 2015. A total of 2,952 students will be given the chance for reconsideration in the regular decision round in the spring.

To continue expanding access and decreasing costs for lower and middle income families, Yale College also announced it has raised from $60,000 to $65,000 the income level below which parents are not asked to make any contribution to the cost of their child’s Yale education. Families earning $65,000 to $130,000 will continue to contribute on average from 1% to 10% of annual family income.

“Our applicants continue to be among the most exceptionally talented, and highly diverse group of students in the world,” Dean of Undergraduate Admission Jeff Brenzel said. “As in the past, we have only accepted students in the early round that we were certain we would also accept in the spring, meaning that deferred students will receive careful attention during the regular decision process.”

Brenzel said the acceptance rate rose slightly this year because of the strength and diversity of the applicant pool. “The applicant pool has strengthened significantly over the past few years,” Brenzel said, “especially as we have made a Yale education financially attainable for all students.”

Yale’s early action admissions program is non-binding, and admitted applicants, who may apply to other schools during the regular admissions period, have until the spring to decide on Yale’s offer of admission.

As part of its financial aid modifications, Yale will freeze the student self-help and summer contributions at their current levels for the 2011-2012 academic year and will make modest adjustments in its need analysis formula for families with over $130,000 in annual income. Families of current students in Yale College will not be affected.

“Even facing serious constraints on our budget, we wanted to expand access for families with more limited means and to maintain our current expectation for the amount that students are asked to contribute from their own earnings or other sources,” said Yale Provost Peter Salovey.

With these changes, Yale’s projected financial aid spending on undergraduates is expected to continue to grow substantially, from $108 million in 2010-11 to an estimated $117 million in 2011-12. The financial aid budget is over four times greater than the $28 million that the University expended as recently as 2001, representing an unprecedented growth in aid. Over the past decade, the percentage of Yale College students receiving Yale grant aid has increased from 37% to 57% and the average annual grant from Yale has increased from $15,000 to $35,400. In addition to receiving Yale’s generous scholarship grants, students may cover their self-help requirement through campus employment without incurring any student loans.

University Director of Student Financial Services Caesar T. Storlazzi said Yale will continue its exceptional level of commitment to families during a period in which Yale and its peer institutions have faced the need for budget cutting in other areas.

“I am proud that we are able to maintain our extraordinary aid program for lower income families, keep student contributions at their 2010-2011 levels, and make some modest adjustments at higher income levels that will allow us to sustain a generous need-based aid program for all families,” Storlazzi said.

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