| Good news Connecticut parents….Yale | | | | aspiration a reality," said Yale University President |
| University has cut attendance costs in half for | | | | Richard C. Levin. |
| thousands of families needing financial aid. If you and | | | | These cost of attendance reductions come at a time |
| your child have ever discussed attending an premiere | | | | when according to the College Board, the average |
| Connecticut college or a Ivy League University, but | | | | annual cost of attending a private four-year U.S. |
| you worried or even slightly discouraged your child | | | | college rose 3.9 percent for the current year, the |
| from applying because of the cost, then now is the | | | | biggest inflation-adjusted increase since 2001. The |
| perfect time to push your child to reach for the stars | | | | cost of rising Connecticut college attendance costs |
| and take advantage of this great opportunity. | | | | can really be felt throughout Connecticut by parents |
| The best part about the 50 percent reduction in | | | | of multiple child households. |
| costs in this top notch Connecticut College is that it is | | | | Currently about 2,300 students which is 43 percent |
| offered to families with annual incomes under | | | | of Yale's undergraduates, get assistance from the |
| $120,000. While $120,000 is considerably more than | | | | school. With the cost reduction Yale expects the |
| the average annual income of the nation the financial | | | | figure to increase to almost half of its student body |
| aid is based on need which is demonstrated using a | | | | over the next year. |
| calculation. However, it gets even better because | | | | Connecticut colleges like Yale have not only reduced |
| parents earning less than $60,000 won't need to pay | | | | attendance costs for the neediest students but have |
| at all. Yale will also eliminate the first $200,000 of | | | | adopted a cost of attendance reduction almost all |
| family assets from its assessment of need. | | | | the way across the board. For example, Yale |
| Connecticut colleges such as Yale and universities | | | | students from households with yearly incomes of |
| nationwide such as Harvard, Duke and many more | | | | $180,000 and $200,000 in assets, costs will decline to |
| high level Connecticut colleges are reducing costs for | | | | $23,050 from $38,150 according to their press |
| families earning sometimes as much as $180,000. The | | | | release. As well as those from families earning |
| cause for this cost of attendance reduction is to | | | | $90,000 will have expenses lowered to $2,950 from |
| make the high level colleges more accessible and | | | | $12,550. |
| affordable and ultimately to make paying for college | | | | The highlight of the new aid plan is that those families |
| a non-factor when prospective students choose | | | | with incomes of $60,000 will not be required to make |
| between high level schools like Yale, Harvard or | | | | any financial contributions! Prior to this change, those |
| Princeton. These universities are committing to fully | | | | families had paid $4,450. Cost of attendance |
| funding the neediest students before extending | | | | reduction is an area that Yale has been very |
| financial aid pledges up the income scale. | | | | progressive as three years ago Yale waived family |
| "Yale should be a college of choice for the very best | | | | contributions from households making less than |
| and brightest students from across America and | | | | $45,000. |
| around the world, regardless of financial | | | | However, the only thing with the new changes is |
| circumstances. We want all of our students to make | | | | that students will be expected to contribute $2,500, |
| the most of Yale - academically and beyond - | | | | an amount that can be covered by working on |
| without worrying about excessive work hours or | | | | campus seven hours a week. It is important to note |
| debt. Our new financial aid package makes this | | | | that even this has been reduced from $4,400. |