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Yale Law School is an Ivy League university helping to do its part to eliminate student loan debt and give low-income students a fighting chance when it comes to their financial future.
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Funded in part by a $20 million gift, Yale will provide full scholarships — worth more than $70,000 per year — to 45 to 50 eligible students whose income is below the federal poverty level $27,750 for a family of four and with assets of less than $150,000. Yale will fund the scholarship program for the next three years, according to Reuters.
The school said it hopes to expand the program over time and will be available to freshmen and sophomores, as well as new enrollees in fall 2022. The scholarships, for now, s will apply to approximately 9% of the class. Yale currently offers financial aid to approximately 75% of its student body, but this scholarship will be the first to cover full tuition. However, it will not cover room, board and living expenses, which typically amount to $21,000 per year, Yale estimated.
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Yale and Harvard University are currently the only law schools providing need-based financial aid, Reuters said. Yale Law is currently ranked #1 in the U.S. News & World Report law school rankings.
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