<p>I recently received an e-mail from Rice about their new financial aid policy. </p>
<p>"We know these are challenging economic times for many students and their families. The economy is uncertain and everyone is making tough decisions about spending.</p>
<p>Rice just made some important spending decisions too. We are going to INCREASE the amount of financial assistance we offer to the class entering in the fall of 2009.</p>
<pre><code>* For families whose income is $80,000 or less, Rice will meet 100% of need eligibility without student loans.
* For families whose income is above $80,000 who demonstrate need eligibility, we will meet 100% of need and your student loans will not exceed $10,000 total over your four years here.
* Thirty percent of the freshman class will receive a merit scholarship."
</code></pre>
<p>I think Rice is fantastic for this response. It can only be good news even if it is not a miracle for all applicants..it is heartening to see that their priorities are with students.</p>
<p>It's an excellent message to send. Let's just hope we aren't overextending ourselves, seeing how the endowment got hit during the stock market's incessant tanking.</p>
<p>Whatever. I have to say that email made us sit up and feel very positive about Rice. I saw that your gym needs a complete overhaul and I am sure they have serious other goals and Promises to keep and buildings to build and research to pursue. But this is a year where our family is very uncertain about private pay for undergraduate school, and I am assuming this is true for other families who are simply frightened about risking so much. Rice already charges less for the same quality other schools charge much more for. I respect this style and these choices.</p>