Required Financial Aid Application Procedures
Applicants are strongly urged NOT TO WAIT for notification of admission before filing financial applications. The deadline for completing all applications is February 15, 2008. Although Yale School of Drama is committed to meeting an applicant’s need with an appropriate financial aid package, a delay in the application may negatively impact the amount and nature of the applicant’s award and the School of Drama’s ability to assist the applicant.
In order to have an applicant’s need individually evaluated, and to receive the aid he or she is entitled to, the applicant must complete the following forms required for a U.S. citizen/permanent resident or international student:
U.S. Citizens/Permanent Residents
1. FAFSA
All applicants requesting financial assistance who are U.S. citizens or eligible non- citizens are expected to file a Free Application for Federal Student Aid (FAFSA). This is essential for establishing eligibility for federal financial aid programs, including the Federal Work-Study, the Federal Stafford Loan, and the Federal Perkins Loan. For efficiency and accuracy, complete the application online at www.fafsa.ed.gov.
File a 2008-2009 free Application for Federal Student Aid (FAFSA) by February 15, 2008 at www.fafsa.ed.gov. Yale’s federal school code is 001426 which is necessary to complete the FAFSA and to ensure that Yale School of Drama receives the processed information electronically.
2. Need Access
All applicants wishing to be considered for federal loans and Yale scholarship assistance must file their application on the web at www.needaccess.org.
File a 2008-2009 need access application at www.needaccess.org by February 15, 2008.
3. Federal Tax Returns
All applicants wishing to be considered for federal loans and Yale scholarship assistance must submit a copy of their federal tax return.
Mail a signed copy of your (the applicant’s) 2007 federal income tax return by April 1, 2008. Please include all W-2s and schedules.
International Students
In order to receive visa documentation, international applicants must submit proof that income from all sources will be sufficient to meet expenses for one year of study. Evidence of funds must come from one of the following sources: affidavit from a bank, copy of a letter of award stating that financial assistance has been offered, certification by parents of their ability and intention to provide the necessary funds, or certification by employer of anticipated income.
International Student Financial Aid Application And Certification Of Finances
All applicants requesting financial assistance who are international students are expected to file the International Student Financial Aid Application and Certification of Finances. Both forms are essential for establishing eligibility for student employment, loan, and Yale scholarship. International applicants are eligible for employment, loan and the Eldon Elder Fellowship (Yale Scholarship).
- Mail the international student financial aid application by February 15, 2008. The International Student Financial Aid Application can be printed from the following website: http://www.yale.edu/sfas/finaid/pdf-forms/0809IntlFinAidApp.pdf
- Mail the international student certification of finances by February
15, 2008. The International Student Certification of Finances
can be printed from the following website: http://www.yale.edu/sfas/finaid/pdf-forms/0809IntlCertFin.pdf
Federal Tax Returns and/or Income Statements - Mail signed copies of your (the student’s) and your parents’ tax documents and income statements (U.S. and Home Country) by April 1, 2008.
Mailing address:
Yale School of Drama Financial Aid Office, P.O. Box 208325,
New Haven, Connecticut, 06520-8325.
Determination of Need and Financial Aid Award
Yale School of Drama’s Financial Aid Office makes awards which, when added to the funds that are expected from applicants, their spouses, their families, and other available sources, should enable students to meet the basic costs of attending Yale.
Applicant Resources
Assets
Applicants are expected to take responsibility for contributing toward the
cost of their own education. Financial aid recipients are expected to use
a portion of their savings and assets during each year of enrollment at Yale
School of Drama. Applicants are advised not to reduce their assets by more
than the expected contribution since the balance will be assumed to exist
whether spent or not. If the savings and assets of the applicant increase,
the expected contribution from these resources will also increase.
Earnings
It is assumed that applicants will contribute to their budget an amount based
on either last year’s or next year’s earnings. The minimum required
applicant contribution is $2000. If an applicant is married and his or her
spouse is not a student, and they have no dependent children, the spouse
will also be expected to contribute to the applicant’s budget from
his or her wages.
Other Resources
Other resources such as outside awards, parental support, income tax rebates,
and Veterans Administration benefits are included among a student’s
resources.
Components Of The Financial Aid Award
A financial aid award is determined by first establishing a standard budget, or cost of education. Using a set of formulae developed by the U.S. Congress, called the Federal Methodology, and the formulae developed by Need Access, called the Institutional Methodology, a calculation of an applicant’s resources or expected family contribution (EFC), if applicable, is then made. The difference between a student’s cost of attendance and the student’s personal or family contribution constitutes that student’s need. Under no circumstance may financial aid exceed a student’s cost of education.
For incoming students during the 2007/2008 academic year, the first portion of a student’s need was met through student work-study employment, the earnings for which ranged between $1,900 and $3,900 depending on the student’s program of study; the next portion came in the form of an educational loan; and the balance of a student’s demonstrated need, if any, was covered by scholarship.
Sample awards based on financial need
| U.S. Citizen/ Permanent Resident | All Students | All Students | |
| First-Year Student | Second Year | Third Year | |
| Average Work-Study | $2,000 | $3,000 | $3,000 |
| Educational Loans | $14,000 | $2,000 | $ 0 |
| Average Scholarship | $19,000 | $30,000 | $32,000 |
| Average Total Aid Awarded | $35,000 | $35,000 | $35,000 |
After the successful completion of the first year and assuming that there are no changes in the needs analysis for the student, it is the policy of Yale School of Drama to improve the financial aid award offered to the student in his or her second and third years. Specifically, the educational loan is decreased and the scholarship is increased based upon calculated financial need.
Work-Study consists of a combination of required and elective work-study jobs within Yale School of Drama or at Yale Repertory Theatre. All students are required to accept work-study assignments totaling 150 to 200 hours per year providing enhanced opportunities for both training and income. Students may pursue elective work-study assignments in addition to, but not in place of, required work-study. The earnings are paid weekly or semi-monthly.
Educational Loans make up an important part of every aid award. The basic loans are issued through the Federal Stafford Loan, the Federal Perkins Loan, Grad Plus Loan and various supplemental loan programs. Private supplemental loan programs offer funds to students who are not eligible for the federal loan program.
Yale scholarships: If the student’s financial need is greater than the total of the work-study award and the educational loan, the remaining unmet need will normally be provided by a scholarship. Eligibility for scholarship assistance is limited to six terms of study. Each year Yale School of Drama awards a substantial amount in scholarships. For the 2007/2008 academic year, scholarships totaling over $4.2 million were awarded. Students who do not qualify for traditional financial aid may be able to receive assistance through term-time employment and various supplemental loan programs.
