Eligible non-U.S. Citizen/Permanent Resident students are awarded a Yale Student Loan up to the unit loan amount. Eligible non-U.S. Citizens/permanent residents may also be eligible for a private loan. Please review ELMSelect for private loan options.
Students whose loan needs exceed federal limits, who are not eligible for federal or private loans, or whose private loan need is less than $1,000, may apply for the institutional loan (YSL) as a loan of last resort. The YSL does not require credit approval or co-signer, has a fixed interest rate of 9.19%, a 5% origination fee, a 10-year repayment schedule, and a 6-month grace period after graduation or enrollment of less than half time. YSL also offers incentives such as no payments during graduate study, no prepayment penalties and the ability to pay ahead while in repayment.