Rice University to Provide Financial Assistance Free of Student Loans

Rice University has proposed a modification to its financial assistance package, making one of the USA’s prominent higher education institutions more accessible to a larger variety of students.

Rice is offering loan-free financial aid for the first time in its history. All students, (domestic and international), who are eligible for need-based financial help will be able to get support without the need to take student loans. Read more: Why Choose Rice University?

Rice is also extending the income groups that determine how much financial assistance students may receive through the Rice Initiative, a substantial financial aid package that has made the institution more accessible to low- and middle-income students. 

Full-tuition grants will now be given to degree-seeking undergraduates with household incomes ranging from $75,000 to $140,000. Furthermore, students with family incomes ranging from $140,000 to $200,000 will be eligible for scholarships paying at least half of their tuition. Explore: Rice University courses

Beginning in the fall semester of 2022, all current and incoming students will see these changes reflected in their financial assistance offering.

Anne Walker, assistant vice president and executive director of university financial aid services said, “The original goal of the Rice Investment is to invest in the promise of students, regardless of their financial background. By offering financial aid packages without loans, we are continuing to invest in our students and their ability to create a bright future free from student debt.”

Too many students are priced out of higher education as a result of escalating costs and the ongoing COVID-19 epidemic. Rice has responded by changing its financial assistance policy, based on its long-held belief that talent deserves equal access regardless of economic status.

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Students from low-income households will be impacted the most by the new policy, since students with family incomes under $75,000 will get grant help covering not just full tuition, but also all necessary fees, room and board.

“I am delighted this expansion will continue Rice University’s mission to broaden access and diversity across the student body. We recognize the challenges that many families have faced, and this update serves as a crucial step in enabling talented students from all economic backgrounds to pursue a Rice education”, stated Vice President for Enrollment Yvonne Romero da Silva. 

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