<p>This question may be better recieved by current students, but...Can anyone explain to me how Yale recieves Scholarships? </p>
<p>At the information session I went to, the guy tried to explain it but I really didn't follow. Say that I earn a $5000 scholarship that I wrote an essay for. Does this put a dent in the amount that my parents are still expected to pay, or does Yale use it to reduce their own contribution so that they can use the money elsewhere?</p>
<p>Student Effort
The student effort is the sum of the student income contribution (part of the family contribution) and the self-help. For 2006-2007, the student effort total is $6,200 for freshman ($4,400 self-help plus the $1,800 student income contribution). Students are free to use any combination of loans and term-time/summer employment to meet this expected contribution; and the relatively modest student effort contribution - modest relative to Yale's total costs and relative to what most other colleges and universities in the U.S. expect - means that Yale students, even if they choose to borrow, should graduate with manageable levels of indebtedness.</p>
<p>Policies on Outside Aid
Yale allows outside merit scholarship money to reduce the student effort. Outside aid that exceeds student effort reduces Yale need-based gift aid, but cannot be used to reduce the family contribution. Federal and state entitlement grants and tuition benefits from parents' employers are not considered merit aid and reduce Yale scholarship aid dollar for dollar.</p>