Federal Direct Loans
To apply for a Federal Direct Loan, please submit the following after January 1, 2013 to the Financial Aid Office email@example.com:
- Free Application for Federal Student Aid (FAFSA). Submit online at www.fafsa.ed.gov. Have your results sent directly to Yale (Yale University Code: 001426). It will take the processor 3-4 weeks to send your results to Yale.
- Copy of Your Signed Income Tax Return for 2012. When the FAFSA and tax return are received, the Financial Aid Office will contact you about completing the application process for Federal Direct Loans, and will also provide information about borrowing the Federal Grad PLUS loan and private loans.
Loans for International Students
Yale SOM administers the Yale International Student Loan, which is available to all international students.
Maximum loan: tuition and fees for the academic year, minus any scholarship awarded
(maximum in 2013-14 is $59,205)
- No co-signer required
- Fixed interest rate of 7.75%
- Origination fee of 5%, subtracted from loan proceeds
- 10-year repayment period
- No payments while you are enrolled
- 6-month grace period following separation from school
- Interest accrues while you are enrolled and during the 6-month grace period and is added to the principal when repayment begins
- Interest does not compound while you are enrolled and there is no pre-payment penalty
If you are an international student interested in applying, please contact the Yale SOM Office of Financial Aid at firstname.lastname@example.org.