<p>Hello all,</p>
<p>I'm a hispanic male interested in Rice in the future but unfortunately I come from a low income background. My parents own a business but it has fallen considerably because of the recession, currently they make about 17k combined. </p>
<p>Their assets:</p>
<p>2 houses
1 worth 150k
1 worth 100 k</p>
<p>3 cars (1 for me, my mom, and dad)
1 worth 10k
1 worth 8k
1 worth 13k</p>
<p>If I do get accepted is their any chance that Rice will offer aid so I can attend their establishment? I won't be needing housing seeing as I will be commuting so is it possible that I will be able receive aid from Rice?</p>
<p>robertrulez, this is right on their web page under financial aid:</p>
<p>Determining Your Financial Need</p>
<p>In determining your financial need at Rice University, we consider multiple factors including your income and assets, your family’s income and assets, your parents’ ages, and your state of residence. All of these factors are evaluated using both a Federal and institutional financial need formula in order to determine your expected family contribution.</p>
<p>Starting with the 09-10 freshman class, Rice will no longer award loans to students whose family income is below $80,000. All of these students’ financial need will be met through a combination of grants, work study, merit aid (if qualified) and institutional funds.</p>
<p>Although everyone’s situation is different, I can tell you that Rice’s FA is very generous (at least it was for me)</p>
<p>And if you receive financial aid, you should really try to live on campus. My guess, looking at your income and assets, is that Rice would cover most of your costs… and you would have less need if you lived at home, so would receive less financial aid. Better to get the whole Rice experience and live on campus!</p>
<p>Rice will meet your demonstrated need. I am attending Rice thanks to generous need based financial aid. Please do not let financial aid concerns stop you from applying. They also take fee waivers for your application!</p>
<p>robertrulez, Every school’s methodology for determining FA awards is different. I would encourage you to apply to Rice as well as at least five other schools including a public university in Texas. In our case, my son would have graduated with $60K in debt had he attended Rice. Had he attended Vanderbilt he would have graduated with only $16K in debt. He is attending Cornell and will graduate with $0 debt.</p>
<p>My FAFSA EFC was below $500 and I basically have a full ride here just because my parents make nothing substantial. APPLY TO RICE.</p>
<p>I also remember Vanderbilt offering me ~$55k/yr. I would definitely encourage you to apply to Vanderbilt as well, it has A LOT of money for admitted students.</p>