Financial Aid Policies
The goal of the financial aid program at YDS is to enable students enrolled in its degree programs to manage and meet their institutional and living expenses without diverting undue energy or attention from their educational responsibilities. Most financial aid is awarded on the basis of demonstrated financial need—the difference between the cost of attending YDS and the personal or non-YDS resources available to the student during that academic year.
In order to determine financial need, YDS requires students to submit a YDS Financial Aid Application and a Free Application for Federal Student Aid (FAFSA). Within the parameters of need and its own resources, the School takes into consideration merit and diversity in making its awards. The financial aid award will normally contain a YDS scholarship, the offer of a William D. Ford Federal Direct Unsubsidized Loan and, when necessary, the Grad PLUS Loan, and the expectation of earnings from a student job. Ten to fifteen hours of work per week are recommended during the academic year. The application deadline for financial aid is March 1 for admissions applicants and April 1 for continuing students.
Financial aid recipients need to apply for financial aid each academic year. Unless an applicant’s financial circumstances have improved significantly, an applicant may count on the same standard of support in subsequent years. If during the academic year a student’s tuition charge changes, the student’s scholarship will be changed by the same proportion as the tuition change.
Whenever a financial aid student receives additional resources unaccounted for in the award letter, the Office of Financial Aid will use those resources to eliminate any unmet need and then reduce educational indebtedness before considering the reduction of a YDS scholarship.
The same policies involving financial aid for citizens of the United States apply to international students. However, because international students without a permanent resident designation are not eligible for federal loans, they need to submit the YDS Financial Aid Application and the International Student Supplemental Application 2021–22 with supporting documentation.
Satisfactory Academic Progress (SAP)
In order to continue to receive financial aid, a student must maintain Satisfactory Academic Progress (SAP). The parameters of SAP are discussed under Academic Deficiencies, in the chapter Standards and Requirements.