Rice University

How Rice University Is Addressing College Costs

Rice University is proud to celebrate over five years of their signature Rice Investment financial aid program. All in all, they’ve helped reduce undergraduate costs by a whopping $650 million dollars.

“The Rice Investment is one of the most transformative initiatives I’ve had the privilege to help shape,” said Yvonne Romero, Vice President for Enrollment and Dean of Admissions and Financial Aid. “This initiative opens doors for students who might have previously believed a Rice education was beyond their reach.”

RICE IS REDUCING STUDENT DEBT

This is a huge win in the name of financial accessibility. On average, about 55% of undergraduates in the U.S. graduate with debt, and Rice is doing their part to offset this statistic.

More than half (53%) of their undergraduates received some level of financial aid this past academic year.

Rice has significantly decreased their numbers of students leaving school with debt over the years. Before the 2019 academic year, 25% of students graduated with debt, but after the initiative was implemented, numbers have fallen by more than 10% to only 14% of students graduating with debt.

WHO IS ELIGIBLE FOR AID?

As far as who is receiving the aid, it is students from families making less than $75K receive full coverage – tuition, fees, and living expenses all paid.

If you’re from a middle-income family making $75K – $140K, tuition is still covered, but the school doesn’t cover fees and living expenses. Even upper-income students from families making $140K-$200K are eligible for half of their tuition waived.

Another notable win for financial accessibility – Rice is also loan-free for all students, which is unique for a school of their size and stature. Instead of offering loans, the university covers the financial needs of students through grants, scholarships, and work-study programs that do not need to be repaid.

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