Have you heard about the Rice Investment but don’t know exactly what it is? We’ve broken it down here and explained why it’s so important to us.
What it is: Need-based financial aid. It’s a package that can be made up of a combination of federal, state and institutional grant aid (institutional = Rice University). And it’s our way of ensuring that cost is not a barrier to receiving a Rice education.
What it isn’t: A scholarship or merit-based aid. This is strictly based on financial need.
Who gets it: The Rice Investment is available to domestic applicants, and we have a handy chart to show you:
This chart is assuming typical assets - check out our Rice Investment FAQs for more on what "typical assets" means.
How you get it: Apply for need-based aid using the FAFSA and the CSS Profile by the corresponding deadline (November 15 for Early Decision and February 1 for Regular Decision).
What if my family isn’t on this chart?: We still meet 100% of demonstrated need. What does that mean? That means if there is a gap between what an admitted student’s family is able to pay and our total cost of attendance, we cover the gap, even if you don’t fall under this chart.
What you need: The FAFSA and the CSS Profile both become available on October 1st of each year. You’ll need your parents, your parents’ tax returns, and some time to fill out all the forms.
What about loans: Loans are not typically awarded in student financial aid offers at Rice. In fact, 75% of our students graduate debt-free. Pretty impressive right?
Why the Rice Investment: We believe that talent deserves opportunity. The Rice Investment is our investment in our students.
I’m still confused: We know Financial Aid is complicated - we’re here to help. You can start by signing up for Affordability of Rice, a virtual session where our Financial Aid counselors go over all the basics. And for any questions we don’t answer, you can email us. You can also check out our Frequently Asked Questions page.
Where do I start: Both the MyIntuition Calculator and the Net Price Calculator are available on Rice’s Financial Aid website for free. These easy to use tools can be your first step in looking at how much financial aid you may be eligible for, and we encourage you to start there.
Are you curious about our students who actually have come to Rice because they received the Rice Investment? Check out our video where we talked to some to find out how it’s impacted their educational journey.