<p>Finally! Yale has just announced a partial fiancial aid reform. They will significantly reduce the amount of parent contribution for those families that earn between $45,000 and $60,000 per year. If your parents earn less than $45,000, their contribution amount will be 0. This is very similar to the system that Harvard recently adapted. </p>
<p>Bravo! I think this will help in debunking the belief that Yale is only for the rich and well-connected. It will also help of lot of students currently on finaid, as well as future students. Sometimes busy administrators need to see a little "community support" for these progressive ideas. :)</p>
<p>Frankly, Yale financial aid was generous enough as it was... More generous than just about every other school except for Harvard and Princeton. In fact, when I was choosing between Princeton and Yale, I got Yale to match Princeton's offer. </p>
<p>I am sure this reform had a lot to do with recent application statistics...</p>
<p>For the year 2005,</p>
<p>Harvard saw a 15% increase in apps
Princeton saw a 17% increase in apps
Yale saw a 1.2% decline!</p>
<p>It's a pity that the new policy still lags behind Princeton... Since when did we compete with Princeton :-p</p>
<p>I already have a 0 EFC, so I'm simply nominally glad that Yale is adopting this policy....I truly wish that Yale would adopt Princeton's policy of replacing loans with grants. My back is being broken by the amount of loans that I'm looking to take over the next four years...though I'm not complaining.:)</p>
<p>hey, when they talk about parents' income, do they just mean income or gross adjusted income? that makes a hell of a lot of difference, and isn't it fairer to use gross adjusted income? (correct me if i'm wrong)</p>
<p>Financial aid uses your adjusted gross income.</p>
<p>Candi, welcome back, I hope all going well. Thanks for sharing your story and clarifying that even with a "0" at a school that meets 100% of your demonstrated need does not mean that you are getting a "free ride" because as you stated, you are going to have quite a few loans before this is over.</p>
<p>Thanks Sybbie...All is going well...I hope your D is enjoying Dartmouth as much as I am enjoying Yale...Dartmouth employs the trimester system, right? How does that work out with vacations?</p>
<p>She is having a wonderful time at Dartmouth. Classes end nest week then finals, everything happens at such a fast pace. Spring break begins on the 16th ends on the 27th. The spring term starts on March 29 and they finish 2nd week in june.</p>
<p>Candi, I take it you would have been better able to benefit from a reform of student contribution rather than reduction in parent contribution. Do you sense that Yale is suggesting they will add other reforms of this nature later? Sure hope so if that will help you. I have been wondering how you were doing, and am glad you are doing well!</p>
<p>Thanks momofthree...I don't know...Considering how defiant the Administration was to financial aid reform of any kind (this policy change came after months of bullying, protests, and conferences), I think it would be a hard sell to push more any more reform through in the near future...Though a reduction in student contribution would be a lovely thing...:)</p>