<p>In the letter we received from Yale, with estimated costs and aid awarded, they list a specific amount that is being designated as travel expenses.
What does it mean? Do we book our son's air tickets through Yale now ? ;)
The same with books...
Would be grateful if someone could explain this to me...</p>
<p>The cost of travel – whether it’s airfare, bus, train or car – is a cost that Yale uses when calculating financial aid for your son or daughter. (We live in New York City and the total cost of transportation for my son is listed as $150. I’m sure it’s much higher for you, as you need airfare.) But, unless your child is on a 100% full scholarship – and from your other post in another thread, it doesn’t sound like you are – the parents are expected to pay for transportation and books out of their own pocket. Basically, Yale does not purchase airplane tickets for anyone, unless their income is below the poverty-line and they cannot afford the cost.</p>
<p>It’s just an estimate used to calculate COA (Cost of Attendance) to determine aid. The easiest thing to figure out what your skin in the game may be is to take the total scholarship grant money and subtract the cost of tuition and room and board. Any balance left is what you need to pay not including the costs of books/personal expenses and travel to and from campus for your child during any holiday breaks if they plan on coming home.</p>
<p>Thanks Kdog044 - it makes sense.
Are the payments spread equally over 12 months ? When is the first one due?</p>
<p>
The balance is paid equally over the two semesters. The first payment is due in July and the final in December. You can check into a payment plan if needed. The cost to enroll in the payment plan is $100 and the payments are spread over 10 months starting in May. See below:</p>
<p>Welcome to the YPP! Yale University offers you the opportunity to spread your education expense over a period of months in interest-free monthly installments. You may choose to spread annual expenses over 10 months (the “Annual Plan”) beginning May 2013. Alternatively, you may choose a “One-term-only Plan” where Fall expenses can be spread over five months starting May 2013 and Spring expenses can be spread over five months starting September 2013. The deadline to enroll in the Annual and Fall Plans is 06/25/2013. The deadline to enroll in the Spring Plan is 10/25/2013. This application will help you determine your payments due.</p>
<p><a href=“http://www.fc.campusoncall.com/ypp/entry.asp[/url]”>http://www.fc.campusoncall.com/ypp/entry.asp</a></p>
<p>Correction: The first payment is due August 1st (not July) and the final is December 1st. :o</p>