Yale announces 2021-2022 term bill, enhancements to financial aid

Branford College
(Photo credit: Jack Devlin)

Yale College on Feb. 23 announced the term bill for the 2021-2022 academic year and reaffirmed its commitment to meeting the full financial need of all undergraduate students.

The Yale College term bill, which includes tuition, room, and board, will increase by 3.8%, from $74,900 to $77,750. Tuition will be $59,950, and room and board for students who live on campus will be $17,800.

Yale’s need-based financial aid will also increase as part of its commitment to meeting the full demonstrated financial need of all undergraduates.

Yale’s financial aid program is designed to make a Yale education affordable for all students by providing equitable support that meets every family’s financial need,” said Scott Wallace-Juedes, director of undergraduate financial aid.

Despite pandemic-related disruptions, Yale has maintained all of its generous financial aid policies, including new initiatives announced in fall 2019. These changes raised the annual income threshold for families who qualify for the most generous financial aid award — a zero parent share award — from $65,000 to $75,000 and also reduced the expected student share for these awards by more than $4,000 over four years.

According to U.S. Census Bureau data, more than half of American families with children ages six to 17 would qualify for Yale’s most generous financial aid award. It covers the full cost of tuition, on-campus housing, the meal plan, and health insurance.

All Yale College financial aid awards are designed to cover 100% of demonstrated financial need without requiring students or families to take out loans. Last spring, 85% of graduates in the Class of 2020 left Yale with $0 in student loan debt. Yale College is one of only five U.S. colleges with a fully “need-blind” admissions policy for all applicants regardless of citizenship or immigration status, and a commitment to meet the full need of every admitted student without loans.

During the last 12 months, undergraduate financial aid officers have worked tirelessly to connect with families experiencing financial hardships, adjusting awards as necessary. When the Office of Undergraduate Financial Aid was forced to close its doors in March, officers began scheduling hundreds of meetings with students and families over Zoom.

Yale College also modified hundreds of financial aid awards to accommodate students’ shift to remote enrollment. For those who enrolled remotely, Yale waived the student share portion of the financial aid award and provided additional funds to help cover the cost of internet service.

Last July Dean of Yale College Marvin Chun announced that first-year students and sophomores who enrolled for both the fall 2020 and spring 2021 terms with at least one term of remote enrollment would receive tuition credits to take two Yale Summer Session courses in any summer up to their senior year. Eligible students receiving financial aid would also get support for on-campus room and board if they choose to take both courses in the same summer session in New Haven.

I am proud that Yale instituted sensible and flexible policies to maintain our commitment to affordability during this unusual year,” said Dean of Undergraduate Admissions and Financial Aid Jeremiah Quinlan. “And I am grateful to the Yale leaders who have devoted significant financial resources to helping all students thrive, and to the financial aid officers who managed an unprecedented number of changes and updates to aid awards.”

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.

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