Yale's new financial aid policy

As expected, Yale has announced that they have a new financial aid policy that is very similar to the one adopted by Harvard several weeks ago. Those families making less than $60,000 a year will not need to contribute to the cost of education at all. For those families earning between $60,000 and $120,000, there will be a sliding scale from 1 to 10% of total family income for a typical contribution. For those families with income between $120,000 and $200,000 they will average a contribution of 10% of total income. Other aspects of the new aid policy can be found on their web site.