Magazine article Black Issues in Higher Education

Yale to Eliminate Financial Burden for Lower-Income Families

Magazine article Black Issues in Higher Education

Yale to Eliminate Financial Burden for Lower-Income Families

Article excerpt

NEW HAVEN, CONN.

Yale College will eliminate the financial contribution that lower-income parents have to make toward their children's education, President Richard C. Levin announced March 3.

Families with incomes below $45,000 will no longer be required to pay any portion of the cost of their children's education, Levin said, and families with incomes between $45,000 and $60,000 will see their required contribution reduced significantly.

"We want to attract the most promising students from all economic backgrounds to Yale," Levin said. "These financial aid enhancements will make Yale even more affordable to students in need of aid and underscore Yale's strong commitment to the broadest access."

Yale admits all students without regard to their financial circumstances, a policy called "need-blind" admissions, and meets the lull demonstrated financial need of all admitted students. Yale adopted its need-blind principles more than 30 years ago. More than 40 percent of Yale undergraduates qualify for need-based scholarship grants. The average grant for 2004-05 from Yale funds is over $22,000 and the top grant is more than $39,000. …

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