2009-2010 Financial Aid

Below is the Class of 2010 student budget for 2009/10, which includes tuition, mandatory 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. The student budget determines the eligibility ceiling for education loans, both federal and private; we recommend that students keep their borrowing to a minimum.

** Yale University requires all students to carry hospitalization insurance. The figure listed above is the cost of Yale Health Plan (YHP) hospitalization and specialty insurance for a single student in 2009/10. Students with alternate hospitalization coverage may waive YHP coverage.

Course materials include textbooks, online and printed business cases, and other readings.

Budget Adjustments
Expenses that do not qualify for budget adjustments include deposits on apartments, moving expenses, credit-card debt, and automobile loans and expenses. For students with families, the budget may be adjusted for the increased cost of health insurance and living 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.

Steps to re-apply for U.S. Federal Loans
1. January – February: Submit 2009 renewal Free Application for Federal Student Aid (FAFSA). Have your results sent directly to Yale (Yale University code: 001426). You will need the PIN you received at the time of your initial application. Be sure to sign the application electronically. It will take the processor 3-4 weeks to send your results to Yale.

2. April – May: Submit a copy of your signed 2008 Income Tax Return 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 for renewing your loans.

Steps to re-apply for Yale International Student Loan
Contact Karen Wellman for an authorization form

Steps to re-apply for Private Loans
Apply on your lender’s website

SOM Loan Forgiveness Program
Graduates with incomes of $77,600 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 $77,600 are expected to contribute 20% of their income over $77,600 towards their annual debt repayment.

Loan Forgiveness Information sessions are held several times each year, led by student members of the Loan Forgiveness Program Committee and Karen Wellman. For further information about the program, contact Karen Wellman.

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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