Yale’s need-based grant aid for undergraduates, the Yale Scholarship, is a gift and thus never has to be repaid. If a student is awarded financial aid, the Yale Scholarship amount is included on the Financial Aid Award Letter.

The Yale Scholarship can vary from a few hundred dollars to over $50,000 per year; the average Yale need-based scholarship in 2015–2016 was $43,989. For additional statistics, see Affordability. Area Yale Club awards, endowed scholarships, and other gift aid from Yale’s alumni and friends may be used as grants in place of some Yale Scholarship funds.

Source: uscollegeinternational.com