<p>Does Yale give grants or only loans?</p>
<p>...to whom do you mean? Bill Gates's heirs or first generation, low-income students?
Big time yes to the latter, big fat no to the former.</p>
<p>It depends on your income. I believe that if your parents make less than certain amount of money($50-$70, I can't remember exactly which) your should receive all grants.</p>
<p>What I understand is that Yale only requires loans for the student contribution if you cannot pay through savings, work-study, etc. I think that your remaining cost after the EFC and student contribution is "Yale's gift to you."</p>
<p>The "student contribution" includes loans, and 43% of the student body received some sort of loan. The average loan in a freshman's aid package is $1994. Loans tends to increase each year of college. The average debt of Yale graduates is $14,306.</p>