A View of Financial Aid across the University Yale Development Council Meeting, October 31, 2014 Ben Polak Provost, Yale University William C. Brainard.

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Presentation transcript:

A View of Financial Aid across the University Yale Development Council Meeting, October 31, 2014 Ben Polak Provost, Yale University William C. Brainard Professor of Economics

Yale College Since 1966, Yale College has offered need-blind admissions plus a commitment to meet the full demonstrated need of students. Yale remains a leader in making college affordable. Financial aid budget for 2014–2015: $116.6 million

Sticker price vs. net price

What about the rest of Yale? During the academic year 2014–2015, Yale will spend $223.4 million for students pursuing master’s and doctoral degrees. This budget serves the Graduate School and twelve professional schools of architecture, art, divinity, drama, engineering, forestry & environmental studies, law, management, medicine, music, nursing and public health. Existing resources for student support vary from school to school. The needs of students vary from school to school.

Tuition vs. cost of attendance School of Architecture Tuition: $43,100 All-in cost: $64,130

Debt on graduation Yale School of Public Health Average debt on graduation: $66,916 Average starting salary: $60,000

Peer competition Percentage of students receiving aid MIT Sloan:20% Yale SOM:32% UCLA Anderson:49% UC Berkeley Haas:57% Carnegie Tepper:65% Stanford GSB:66% HBS:71%

Special needs of international students Yale School of Forestry & Environmental Studies 75 percent of international students receive financial aid Cost of attendance averages $10,000 more than for domestic students

Need vs. funds available School of Nursing Aggregate need for student support: $12,681,897 Budget for student support: $2,318,808