Meaning

noun a university in Connecticut

noun English philanthropist who made contributions to a college in Connecticut that was renamed in his honor (1649-1721)

originUltimately borrowed from Welsh Iâl, from iâl (“clearing, cultivated upland”). The surname is habitational. The university is named for Elihu Yale, a notable early benefactor.

Etymology from Wiktionary, CC BY-SA 3.0