Yale Club/Association Scholarships

 

 

What is a Yale Club/Association Scholarship?

Yale Club/Association Scholarships are those that are sponsored by alumni associations. Like all financial aid at Yale, they are awarded based on demonstrated need, as determined by Student Financial Services. Club/Association scholarships are treated the same as all other scholarships established at Yale.

 

How many Club/Association scholarships are currently set up at Yale?

There are approximately 25 Yale Clubs/Associations who have scholarships established at Yale and have input in scholarship recipient selection.

 

How does a Club/Association set up a scholarship? With whom do they work?

The Development Office will assist a Club or Association with setting up an endowed fund, and will work with them to create an indenture describing the preference of students to receive the funds. A Club/Association may also choose to set up an annual fund instead of an endowed scholarship.

 

Who manages the fund?

An endowed Yale scholarship will become part of the Yale University Endowment pool, which functions similar to a mutual fund, and only the income is available for use. An annual fund is not invested and the entire contribution is used each year. Some Yale Clubs/Associations have elected to set up and manage separate funds outside of Yale, contributing their income annually to the University in support of student financial aid, similar to an annual fund. These separate funds must be sent to and processed by Student Financial Services, and not given directly to students. The University must follow strict guidelines regarding the awarding of financial aid.

 

How do Club/Association funds affect students' financial aid?

Yale Club/Association Scholarships help to reduce the funds that Yale must provide directly for Yale Scholarships, dollar for dollar. There is no net change to a student's award.

 

How are the funds awarded? Can Clubs/Associations pick the students who will receive scholarship funds? Can they leave the decision up to Yale?

All Yale Scholarship funds are awarded by Student Financial Services. Clubs may choose the students whom they wish to receive their scholarship funds from the eligible pool. If the decision is left to Yale, funds will be distributed evenly to all eligible students in the Club/Association territory.

 

Do Clubs/Associations have to limit scholarship aid to undergraduates?

No, especially if available funding exceeds the total financial aid needed for students from a particular Club/Association territory. Clubs/Associations are welcome to contribute as much of their fund as they wish to graduate and professional students, or set up a separate fund for that purpose. Examples of Clubs/Associations that have given funding to graduate and professional students include the Yale Alumni Association of Montclair, the Yale Club of New Haven and the Yale Club of the Treasure Coast.

 

What kind of notification and reporting does Student Financial Services (SFS) provide to Clubs/Associations about their scholarships?

SFS notifies Clubs/Associations of available funds to be spent each year, and assists them with selecting students. SFS then notifies students that they have been chosen as a Club/Association scholar.

 

Whom should Clubs/Associations contact if they have additional questions?

Student Financial Services, specifically Jane Pepe at 203-432-2700 or jane.pepe@yale.edu.

 

 

 

 

 

 

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