Yale Joins Financial Aid Parade

Another Ivy acts to help families lighten tuition load
By Nick McMaster,  Newser Staff
Posted Jan 14, 2008 4:55 PM CST
Yale Joins Financial Aid Parade
The High Street Arch, on Yale's campus, is seen in this undated file photo.   ((c) kustaroo)

Yale will greatly increase its financial aid offerings in a plan similar to the one Harvard unveiled last month, the Yale Daily News reports. Families making between $120,000 and $200,000 ($20,000 more than Harvard's cut-off) annually will pay tuition of around 10% of income, and those earning $60,000 to $120,000 will pay a lower percentage. Kids whose family income is lower get a free ride.

“Yale should be a college of choice for the very best and brightest students regardless of financial circumstances,” said the school's president. Yale will boost its financial aid budget from about $56 million to $80 million. Tuition, which has recently jumped about 5% annually, will now increase by 2.2% a year, to match the rise of inflation. (More financial aid stories.)

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