2008-2009 Financial Aid

Below is the estimated 2008-09 student budget, which includes tuition, required fees, and allowances for estimated expenses for a single student during the 9-month academic year (September - May). The budget assumes a modest life-style, including shared accommodation off-campus, in New Haven. Actual costs for individual students vary depending on personal needs and preferences. The student budget determines the eligibility ceiling for education loans, both federal and private; we recommend that students keep their borrowing to a minimum.

The fee for the first-year International Experience does not include airfare to and from the country of destination. An allowance for this travel is included in the Class of 2010 Personal Expenses line.

Yale University requires hospitalization insurance for all students. Students are automatically billed for single student hospitalization coverage with the Yale Health Plan (YHP); the fee for 2008-09 is $1,764. YHP coverage may be waived with proof of alternative coverage.

Course materials include textbooks, business cases, and other readings assembled by the instructor and distributed at the beginning of the course in the form of course packets, and handouts distributed in the class throughout the term.

Budget Adjustments
For students with families, the budget may be adjusted for the increased cost of health insurance and living expenses.

Expenses that are not included in the single-student budget and do not qualify for budget adjustments include deposits on apartments, moving expenses, credit-card debt, and automobile loans and expenses.

Student Loans
Loans are approved for one academic year; renewal for the second year of study is not automatic. A new application must be filed each spring for the following year.

U.S. Federal Loans
Steps to apply for Federal Student Loans:

1. Submit Free Application for Federal Student Aid (FAFSA). Have your results sent directly to Yale (Yale University code: 001426). Be sure to sign the application electronically. It will take the processor 3-4 weeks to send your results to Yale.

2. Submit a copy of your signed Income Tax Return for 2007 to Karen Wellman, Financial Aid Administrator, Office of Student and Academic Services (Fax: 203 432 9916).

3. When the FAFSA report and your tax return have been received, Karen Wellman will contact you about your eligibility and the process to apply for Stafford and GradPLUS loans. You will also receive information about private loans.

SOM Loan Forgiveness Program
Graduates with incomes of $74,300 or less who work for government or nonprofit organizations can receive full reimbursement for their annual debt repayment on need-based loans taken while at SOM. Graduates who make more than $74,300 are expected to contribute 20% of their income over $74,300 towards their annual debt repayment. Read more about the program.

Student Accounts & Billing
The Yale University Office of Student Financial Services, located at 246 Church Street, New Haven, CT (Tel: 203.432.2700), administers student accounts and billing. Tuition and fees (including Yale Hospitalization insurance) are billed by semester. Students receive email notification that bills are available on the Student Information System. Bills for fall term tuition and fees become available during the first week of July and are payable by August 1. Bills for spring term tuition and fees become available during the first week of November and are payable by December 1. Scholarships and student loans appear as “anticipated credits” on the semester bill. Students must pay any balance by the payment date for that semester.
See the Yale University Student Financial Services website for complete information about student accounts, billing, and payment options.

Disbursement of Refunds
Financial aid is disbursed three (3) business days before the start of each semester. Refunds from student loans become available on the first day of the semester. Refunds are not automatic, but must be requested by the student. For information about refunds see the Yale University Student Financial Services website.

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