All costs for Yale University undergraduate students whose families have less than $100,000 in assets and annual income will be waived, starting in the fall.
The move represents an evolution of Yale’s “zero parent share” financial aid policy.
Starting in 2010, the school began covering all costs for students whose families had assets and annual income adding up to less than $65,000. The threshold went up to $75,000 in 2020 and has now increased to $100,000, the school said Tuesday.
In addition, incoming Yale College students whose families have assets and annual income adding up to less than $200,000 will be given needs-based scholarships which either equal or exceed the cost of tuition. Yale College refers to the undergraduate portion of the overall university.
Currently, more than 1,000 Yale College students get zero parent share financial aid.
“With this announcement, we reiterate and reinforce Yale’s commitment to ensuring that cost will never be a barrier between promising students and a Yale College education,” said Yale Dean of Undergraduate Admissions and Financial Aid Jeremiah Quinlan in the school’s announcement.
The policy also matches similar financial aid awards at other elite schools including Harvard University, the Massachusetts Institute of Technology, Princeton University and the University of Pennsylvania, according to The New York Times.
