Additional Financial Aid Policies
Institutional Verification: Students seeking grant/scholarship support undergo institutional verification for funds requiring applicants to submit a signed copy of their own and their spouse's complete (all pages, including W2s) 2012 Federal income tax returns (Form 1040, 1040A or 1040EZ). Students who are applying for grants and are age 28 or younger (by December 31st of the academic year) must also submit signed copies of their parents’ tax returns. This information is used for internal audit only and will be treated in the strictest confidence. This requirement can be satisfied with photocopies or the actual income tax return filed with the IRS. If you have not kept a copy, please go to www.irs.gov to obtain Form 4506 to request a tax transcript.
Grant awards: Will not be disbursed and loans will not be processed until all forms (including tax returns) are in the student's financial aid file. Failure to provide these forms by May 3 may result in substantial late fees.
Independence: For the purposes of distributing Yale Law School grants, we consider the financial resources of the parents of students who are age 28 or younger as of December 31st of the academic aid year. In very rare cases, students who are younger than age 29 may be able to demonstrate independence from their parents. Please feel free to discuss your situation with the Financial Aid Office.
Default on Prior Student Loans: It is the University's policy to refuse financial aid to a student who is in default with any federal loan, university student loan or if a refund is owed to the Department of Education, Yale, or any other educational institution. If a student is found to be in default after being offered financial aid, the University will withdraw all aid immediately and continue to hold the student responsible for any charges that may have been incurred.
Selective Service Act: The Selective Service Act provides that no student may receive Title IV funds (Federal Direct Loans and Perkins) who has not executed a "Statement of Registration Status" (located on the FAFSA) which either affirms that the individual has registered for Selective Service or states why he or she is not required to do so. All of the Law School's financial aid awards (except those to foreign students) include funds from at least one Title IV program. Failure to execute a Statement of Registration Status will render students ineligible for that portion of the financial aid award which are normally provided through these programs. Students for whom this requirement presents special problems should consult the Financial Aid Office.
Fraud or Misconduct: Federal regulations require that the University report any information that indicates that an applicant may have engaged in fraud or other criminal misconduct in connection with his or her federal loan application. The information will be reported to the Inspector General of the U.S. Department of Education or other law enforcement officials.
***Please note: For non-U.S. Citizens, the information on the Student visa form and the financial aid application must correspond. If the information varies, it must be corrected or it will be reported to the Office of International Students and Scholars.
Federal Drug Policy: As required by section 5301 of the Anti-Drug Abuse Act of 1988, if a student is convicted of drug trafficking or possession, the court may deny that student eligibility for Title IV student financial assistance.
TUITION REBATE AND REFUND POLICY:
On the basis of the Federal regulations governing the return of Federal Student Aid (Title IV) funds for withdrawn students, the rebate and refund of tuition is subject to the following policy:
- For purposes of determining the refund of Federal Student Aid funds, any student who withdraws from the Law School for any reason during the first 60% of the term will be subject to a pro rata schedule which will be used to determine the amount of Title IV funds a student has earned at the time of withdrawal. Funds are earned according to the percentage of the term completed. A student who withdraws after the 60% point has earned 100% of the Title IV funds. In 2013-2014, the last days for refunding federal student aid funds will be November 8, 2013 in the fall term and April 3, 2014 in the spring term.
- For purposes of determining the refund of institutional aid funds and for students who have not received financial aid, tuition will be rebated in accordance with the following policy:
- 100% of tuition will be rebated for withdrawals which occur on or before the end of the first 10% of the term (September 18, 2013 in the fall term and January 31, 2014 in the spring term).
- A rebate of one-half (50%) of tuition will be granted for withdrawals which occur after the first 10% but on or before the last day of the first quarter of the term
(October 4, 2013 in the fall term and February 16, 2014 in the spring term).
- A rebate of one-quarter (25%) of tuition will be granted for withdrawals which occur after the first quarter of a term but on or before the day of Midterm (October 29, 2013 in the fall term and March 24, 2014 in the spring term).
- Students who withdraw for any reason after Midterm will not receive a rebate of any portion of tuition.
- The death of a student shall cancel charges for tuition as of the date of death and the Bursar will adjust the tuition on a pro rata basis.
- If the student has received student loans or other forms of financial aid, funds will be returned in the order prescribed by federal regulations; namely, first to Federal Unsubsidized Direct Loans, if any; then to Federal Perkins Loans; Federal Direct Graduate PLUS Loans; next to any other Federal, State, private or institutional scholarships and loans; and finally, any remaining balance to the student.
- Recipients of Federal and/or institutional loans who withdraw are required to have an Exit Interview before leaving Yale. Students leaving Yale receive an exit packet from Student Financial Services with instructions on completing this process.