Fin-aid for low-income students?

<p>I was wondering how the financial aid is for low-income students? Will I have to take out any loans if my family makes less than 20k a year? I don't mind work study but I'm kind of scared of loans...</p>

<p>Yale offers full need-based financial aid. They extended the limit from 45,000 dollars per year to 60,000 as the number below which your family would pay nothing for a Yale education. So, unless there are other circumstances, a child from a family with a 20,000 dollar a year income would go for free.</p>

<p>How about loans? How much can virtuoso_735 expect to take out in student loans to attend Yale?</p>

<p>Loans are not part of Yale's financial aid packages (as you could have discovered rather easily by looking at Yale's financial aid website). You will have to make a student contribution (for freshmen this is $6200) which you can either choose to earn through working in summer/during the year (Yale has a very high minimum wage: $10.90/hr), through outside scholarships (these count towards the student contribution first, if they surpass that, then they begin to reduce the financial aid package), or through taking out loans. Go to Yale's financial aid website for more detailed explanations.
<a href="http://www.yale.edu/admit/freshmen/financial_aid/charts.html%5B/url%5D"&gt;http://www.yale.edu/admit/freshmen/financial_aid/charts.html&lt;/a>
is particularly helpful</p>