Yale announces term bill for 2020-2021, plus expanded financial aid
Yale College announced on Feb. 24 the term bill for the 2020-2021 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 by 3.9%, from $72,100 to $74,900. Tuition will be $57,700, and room and board for students who live on campus will be $17,200.
Director of Undergraduate Financial Aid Scott Wallace-Juedes said Yale’s need-based financial aid will also increase in order to continue the university’s commitment to meeting the full demonstrated financial need of all undergraduates. Yale will spend more than $180 million on need-based financial aid for undergraduates in the current academic year — an increase of 50% in just the past seven years.
Currently, more than 53% of Yale undergraduate students receive a need-based Yale scholarship. The average annual grant is more than $55,100; Yale’s financial aid awards do not require students or their families to take out loans. In all, nearly two-thirds of the student body (64%) receives some form of financial assistance through a Yale need-based scholarship, external scholarship, or education loan. More than 85% of the Yale Class of 2019 graduated debt-free.
Yale’s financial aid policies have also expanded their reach and impact, especially for students from lower- and middle-income families. Yale recently announced that families with incomes below $75,000 and with typical assets will qualify for financial aid awards with a “$0 parent share.” These awards cover the full cost of tuition, on-campus housing, the meal plan, and health insurance with scholarship grants.
“The mission of Yale’s undergraduate financial aid program is to provide equitable support to all Yale students and their families,” said Wallace-Juedes. “Through the generosity of countless donors, Yale can provide financial support to thousands of hardworking families that turns their dreams of a Yale education into a reality.”
Prospective students and families can get an estimate of their Yale cost, accounting for financial aid, in three minutes using Yale’s Quick Cost Estimator, at the Yale Undergraduate Admissions website.