<p>hello everybody.....i got a question about the financial aid at Rice.....i just got in as a transfer for spring,..,</p>
<p>what does rice mean that they meet 100% of the cost...
my family income is below 60 grands and I applied for housing,,,,,,,,since I have to support myself...i am quite concerned!!</p>
<p>do they give you a lot of loans.....any rough figures on the loan per year??
if someone could detail on that!!</p>
<p>thanx in advance!!</p>
<p>Look on the rice financial aid webpage and it spells it all out. You should be loan-free since your family income is below 60,000; all your aid will be grant and workstudy.</p>
<p>Rice meets 100% of need, not cost. They determine need from FAFSA, CSS Profile, and tax returns. Remember that "income" doesn't only include job wages.</p>
<p>"Financial aid packages are calculated in the following manner. First, your financial need is determined by weighing your and your family's <strong>income and assets</strong> against the cost of attending Rice. If you are eligible for aid, you are then awarded some amount of Federal and State grants, as well as $1,800 in Federal Work Study and a loan of $2,600. If your family income is below $60,000, that loan is substituted with Rice grant aid, and the remaining cost of attendance is also met by the university. If your family's income is above $60,000, your remaining financial need is met by Rice grant aid. Rice limits to $14,500 the amount you have to borrow over four years."</p>
<p>Also note that the $14,500 is the limit for STUDENT loans. There is no limit for family loans.</p>
<p>Not to be a downer, but it's important to understand how the system works.</p>
<p>I appreciate all of u guys help....loans SCARE me!!</p>
<p>It's good to hear that loans scare you. I'm so tired of seeing posts by students who think huge loans are no big deal!</p>