Yale Child Scholarship Plan: An Overview for Faculty and Staff

by | Feb 22, 2024

With the enrollment bust of 2026 right around the corner and possible suggestions of a tuition increase, the path to higher education just got even bumpier (as if it wasn’t already!)

Luckily for Yale employees though (both faculty and staff) – there is good news.

If you’re a full-time employee at Yale (faculty or staff), the Yale Child Scholarship Plan is a valuable opportunity that can help you with this financial baggage. This program is all about helping eligible faculty and staff members by pitching in with their children’s college expenses, offering up to $25,900 each year to make education a bit more manageable.

But –

  • How can you apply for it?
  • What are the eligibility criteria?
  • What’s the scholarship amount?
  • Any specific application process? 

We’re going to address all these questions to help you figure out how this scholarship program works. Let’s get started!

Eligibility Criteria: Who Qualifies?

The Yale Child Scholarship Plan is designed to assist those who have dedicated their careers to Yale. 

So, apart from being a Yale employee, what else do you need to apply for this?

Employee Requirements:

  • An employee – either a full-time faculty member (involved in teaching or research) or a staff member (working 35 or more hours per week). 
  • You need to have at least six years of continuous service at Yale, and that’s before the first semester of your child’s college
  • If you were on a break and, therefore, don’t have 6 years to your name, you can apply for the scholarship on two conditions:
  1. You must have previously worked at Yale for 48 months (continuous or with breaks)
  2. And you’re planning to serve Yale for another four years full-time with no breaks – so that makes it up to 8 years of employment

Student Requirements

  • Your child, on the other hand, must be under 25 years old, enrolled full-time at an accredited four-year or two-year undergraduate college, and actively pursuing a bachelor’s or associate’s degree

Note: You must apply to this program by the end of the term to be eligible for the scholarship.

Scholarship Amount: What Can You Expect?

Understanding the scholarship amount for this can be a little tricky. Don’t worry – we’ve got you covered. The first thing you need to understand is that the highest amount you can get per academic term from this program, regardless of the tuition fees, is $12,950. So, per academic year, you can get a maximum of $25,900. 

And you get the assistance for 8 semesters or terms, which means, if there’s a backlog, and a student takes 10 semesters to complete their undergrad, you won’t get the benefits. 

So, here’s a breakdown of what you get:

  • 50% of tuition and eligible fees (max $12,950) – the math here is (tuition fees + eligibility fees X .50)

Or if your child gets a non-Yale grant or scholarship:

  • Tuition and eligibility fees minus any other scholarships or grants received by the child (max $12,950).- the math here is (tuition fees + eligibility fees – scholarship)

However, there’s one more caveat. The amount paid by Yale will always be the lesser of the two options.

Real-time example

Eligibility fees$2000
Non-Yale Grant$0

So, according to the breakdown mentioned above, here are the two possible options:

  1. Tuition + Eligibility fees X .50 = $8000 + $2000 X .50 = $5000
  2. Tuition + Eligibility fees – scholarship = $8000 + $2000 – 0 = $10000

You’ll get $5000 or option A because it’s the lesser of the two.

It’s important to note that the academic year maximum scholarship amount is $25,900. This means that eligible families can potentially receive substantial support to help fund their child’s education.

Application and Payment Process: How Does It Work?

Navigating the application and payment process of the Yale Child Scholarship Plan is straightforward, ensuring that eligible families can access the financial assistance they need:

If you’re applying for the scholarship for the first time, complete the online application before the end of the relevant term. This is your first step toward unlocking this benefit.

For subsequent terms, you’ll need to submit your child’s itemized tuition bill each semester for scholarship consideration. This process ensures that Yale can verify your child’s eligibility for continued support.

If the information you provide is wrong or erroneous, Yale has the authority to change the amount of scholarship disbursed under this program. 

Once your application or tuition bill is approved, Yale will reimburse the approved amount directly to the accredited institution. This direct reimbursement streamlines the financial aid process.

Benefits and Considerations: Why Should You Consider It?

The Yale Child Scholarship Plan offers several key benefits and considerations for eligible families:

Significant Financial Aid: 

As we all know, saving for college can be tough and cause financial disruption even for high-networth individuals. That’s why one of the most compelling reasons to explore this program is the substantial financial aid it provides. The $12,950 you get per academic term can help you with financing your child’s education.

Direct Reimbursement: 

Yale’s commitment to streamlining the financial aid process is evident in its direct reimbursement to educational institutions. This simplifies the logistics, ensuring that the funds are allocated where they are needed most—towards your child’s education.

Secure for 8 Semesters/Terms:

A big part of this program is that your child can have it for the entirety of their undergraduate life. So, as long as they are on track to finish their education in 4 years (8 terms), they can essentially slash the fees by 50% through this Yale Child Scholarship Plan. 

Eligible Even for Employees on a Break: 

Although it’s best if you’ve worked with Yale for 6 years because it gives direct access to the scholarship program, even employees who were on a break, and therefore, on active duty for only 48 months can also apply for this. So, there’s some wiggle room here.

Extended Application Deadlines: Another good thing about this opportunity is that the deadline is not before the term but at the end of it. So, you’ll have some time to assess your child’s fee and apply for the program.

For more information, please visit Yale’s official website.

Be Finance-Smart

In an age where the cost of higher education can feel overwhelming, the Yale Child Scholarship Plan offers a valuable lifeline for eligible faculty and staff members. By carefully reviewing the program guidelines and meeting the necessary criteria, eligible families can access significant financial assistance for their children’s higher education aspirations. 

Working with a financial planner like the professionals at Kreitler Financial can help you incorporate this benefit into a comprehensive college funding strategy for your family.

Embrace this opportunity and empower your child’s future today.

Kreitler Financial is not affiliated with Yale University. 

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