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Yale scholarships, student loans and grants

How to pay for that Ivy League degree.

Private universities are expensive, and Yale is no exception. But while its sticker price might be high, many students don’t graduate with any debt — thanks to its need-based financial aid package.

How much does it cost to go to Yale?

Costs of attending YaleAnnual cost
Tuition and fees$55,625
Meal plan$7,200
Books and personal expenses$3,700
Total cost for the 2019–2020 academic year$75,925

Source: Yale University

As you can see, Yale’s tuition isn’t the only number to consider when calculating the cost of attendance. Other expenses like housing, meal plans and travel also factor in.

What’s the average student debt load for Yale students?

Yale students graduated with an average student loan debt load of $13,050 in 2016, according to the Department of Education. That’s less than half the average student debt load for other students who graduated that year.

Does Yale offer a tuition payment plan?

Yes, Yale allows students to pay off their education expenses in installments through the Yale Payment Plan (YPP). Students or parents can enroll in either a 10-month annual plan or a spring and fall semester plan.

While Yale doesn’t charge interest with the YPP, it costs $100 to enroll each time. You can sign up online through the Yale Office of Student Financial Services website.

How financial aid works at Yale

Yale is one of a handful of schools that covers 100% of financial need for all students — including international, DACA and undocumented students. Yale calculates financial need based on how much your family can be expected to pay.

Expected parent contribution

Family incomePercentage who qualify for aidAverage scholarshipAverage remaining cost
Less than $65,00098%$70,686$4,450
$65,000 to $100,00099%$64,402$6,488
$100,001 to $150,00096%$54,249$15,352
$150,001 to $200,00088%$39,275$29,953
$200,001 to $250,00064%$25,427$43,015
Over $250,00023%$16,979$50,957

Low-income families with larger-than-average assets such as trust funds or real estate might not qualify for as large of an award. High-income families typically aren’t eligible for need-based aid unless they have multiple children attending college.

Expected student contribution

Even students who qualify for a $0 family contribution don’t exactly get a free ride. Students are also expected to foot part of their college expenses — typically between $2,850 and $3,350 per academic year.

The most popular way to cover this cost is through work-study and summer employment. Students who don’t qualify for the federal work-study program can also work on campus and use the funds to cover the student contribution. Other ways to cover this cost include outside scholarships, grants and student loans.

Are there other scholarships and grants available?

Yes. Yale might only provide need-based financial aid, but students can also qualify for grants and scholarships from the federal government, state and private institutions. Typically, schools deduct other types of need-based funding from your financial aid package.

However, students can use merit-based scholarships to cover the costs that Yale doesn’t. If you’re from Connecticut, you might have more options to choose from since most state-funded scholarships and grants are for residents only. You might want to look at the funding options your home state offers if you’re from somewhere else. Or check out financing from private organizations.

Student loans to pay for Yale

Thanks to its generous financial aid package, most students who attend Yale don’t need to take out any loans. In fact, over 85% of the Yale Class of 2018 graduated without any student debt. But if Yale can’t cover all of your education-related costs, a student loan can help foot the bill.

Yale recommends students apply for federal loans first — they’re typically less expensive, easier to qualify for and have more flexible repayments than private loans. If you’re not eligible for federal aid, you might qualify for a Yale student loan.

Yale student loans

  • Loan amount: Up to $5,000 per year
  • APR: 7.5%
  • Terms: 10 years
  • Grace period: 6 months

Yale’s private student loan option is meant for students who are ineligible for federal student loans. International students generally must apply with a cosigner who’s a US citizen or permanent resident, though Yale sometimes waives that requirement in special circumstances. If your Yale student loan still isn’t enough, you might want to look into other private student loan options.

Compare private student loan providers

Name Product APR Min. Credit Score Loan amount Loan Term
EDvestinU Private Student Loans
4.092% to 8.609% with autopay
$1,000 - $200,000
7 to 20 years
Straightforward student loans for undergraduate and graduate students.
CommonBond Private Student Loans
3.74% to 10.74%
$5,000 - $500,000
5 to 15 years
Finance your college education through this lender with a strong social mission and terms that fit your budget.
Edvisors Private Student Loan Marketplace
Varies by lender
Varies by lender
Varies by lender
Varies by lender
Quickly compare private lenders for your school and apply for the right student loan.
Credible Labs Inc. (Student Loan Platform)
Starting at 0.99% with autopay
Good to excellent credit
Starting at $1,000
5 to 20 years
Get prequalified rates from private lenders offering student loans with no origination or prepayment fees.

Compare up to 4 providers

Bottom line

As the second most endowed university in America, Yale is able to offer one of the more generous need-based financial aid packages out there. But sometimes even the best financial aid package doesn’t cover everything. In that case, you might want to consider your private student loan options.

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