Yale unveils new financial aid calculator

Colleges and Universities A-Z Yale University
1

"Yale unveiled a new service on Wednesday that will allow prospective applicants to easily calculate how much financial aid they might be entitled to if they enroll as undergraduates.

MyinTuition, a service used by 29 other American universities, asks students to submit information about their families’ finances in order to produce low, best and high estimates of what portion of the total sticker price their families would likely have to pay. The service will complement the more in-depth net price calculator that Yale has offered for more than five years. Unlike the net price calculator, which requires detailed information from sources like tax returns and checking accounts, MyinTuition asks only six simple questions and takes about three minutes to complete, according to the Office of Undergraduate Admissions." …

https://yaledailynews.com/blog/2018/01/17/yale-unveils-new-financial-aid-calculator/

2

I like how quick it was to fill out. The only issue I see is that it’s missing some questions that might be slightly necessary. For example, is there any pre-college aged siblings, how old are they. The reason I think this question is important is because if that sibling goes to a different school, the Yale calculation does not calculate for a substantial loss and although his future school may ask about it for that sibling, Yale’s cost does not adjust at all. My thought is that all schools should have a dynamic adjustment every year to changes in family budget.

3

It’s very friendly. It’s way off in my case because my dear father set up a college account in my kid’s name and it has no place to put in assets in the name of the child. So it paints a far rosier picture than my actual situation. That could come as a shock if I hadn’t already done my research.