Yale College announces term bill and reaffirms commitment to affordability
Yale College has announced the term bill for the 2019-2020 academic year, and reaffirmed its commitment to meet the full financial need of all undergraduate students, regardless of citizenship or immigration status.
The Yale College term bill, which includes tuition, room, and board, will increase 3.8%, from $69,430 to $72,100. Tuition will be $55,500, and room and board for students who live on campus will be $16,600.
Director of Undergraduate Financial Aid Scott Wallace-Juedes explained that Yale’s financial aid awards move in step with changes to the university term bill. “Although the cost of a Yale education changes each year, students receiving financial aid can rest assured that their Yale financial aid award will continue to meet their full demonstrated financial need,” he said.
Currently, more than half of Yale undergraduate students receive a need-based Yale scholarship, and the average annual grant is $52,800, equal to 99% of the cost of tuition. Yale’s financial aid awards meet 100% of demonstrated financial need without requiring students or their families to take out loans. The Office of Undergraduate Financial aid recently reported that nearly two-thirds of the student body (64%) received some form of financial assistance through a Yale need-based scholarship, external scholarship, or education loan, and more than 86% of the Yale College Class of 2018 graduated debt-free. Prospective students and families can quickly get a ballpark estimate of their Yale cost in less than three minutes with the new Quick Cost Estimator.
University Provost Benjamin Polak announced that Student Effort — the amount students receiving financial aid are expected to contribute toward their Yale education — will not increase for the 2019-2020 academic year. This will be the fourth consecutive year with no increase in Student Effort, even as Yale’s financial aid budget has expanded. In 2015, Student Effort levels were reduced for all students on financial aid, and a new policy set the student effort for students of high financial need 35% lower than others receiving financial aid. The Office of Undergraduate Financial Aid recently announced changes to the financial aid award letter designed to help students and parents understand their options for meeting their net costs.
University Director of Financial Aid Caesar Storlazzi said, “As Yale College becomes larger and more diverse, our commitment to affordability remains the same. We are all grateful to Yale’s many donors for their generosity and Yale’s leadership for continuing to place need-based financial aid among the university’s top priorities.”
Over the past six years, the number of first-generation students in the first-year class has increased by 75%, and the number of students in the first-year class receiving federal Pell Grants has almost doubled.