high schools. The median family income of Yale students is $192,600, with 57% of students coming from the top 10% highest-earning families and 16% from the bottom 60%.
=== Residential colleges ===
Yale's residential college system was established in 1933 by Edward S. Harkness, who admired the social intimacy of Oxford and Cambridge and donated significant funds to found similar colleges at Yale and Harvard. Though Yale's colleges resemble their English precursors organizationally and architecturally, they are dependent entities of Yale College and have limited autonomy. The colleges are led by a head and an academic dean, who reside in the college, and university faculty and affiliates constitute each college's fellowship. Colleges offer their own seminars, social events, and speaking engagements known as "Master's Teas", but do not contain programs of study or academic departments. All other undergraduate courses are taught by the Faculty of Arts and Sciences and are open to members of any college.
All undergraduates …
