Rice University greatly expands need-based aid- loans replaced by grants & scholarships - Fall 2019

[patsmom]

https://news.rice.edu/2018/09/18/rice-university-announces-new-program-to-dramatically-expand-scholarships-for-middle-class-2/?utm_source=Facebook&utm_medium=riceinvestment&utm_campaign=Facebook%20links

Rice University has unveiled a new initiative to make higher education more affordable by dramatically expanding financial aid provided to students from low-income families to those with incomes up to $200,000…

…Full tuition scholarships and grants will be offered to students from middle-income families under a new financial aid plan titled The Rice Investment. Under The Rice Investment program, full tuition scholarships will be awarded to degree-seeking undergraduates with family incomes between $65,000 and $130,000 who are eligible to receive need-based financial aid. In addition, students with family incomes between $130,000 and $200,000 will receive scholarships covering at least half of their tuition. Support for students from low-income families will also be significantly enhanced under the program, and students with family incomes below $65,000 will receive grant aid covering not only their full tuition, but also all of their mandatory fees and room and board…

…The Rice Investment will also reduce the burden of student debt. Beginning in the next academic year, degree-seeking undergraduate students from families with incomes up to $200,000 who qualify for The Rice Investment will no longer be required to take out loans as part of their need-based financial aid packages. Instead, loans will be replaced by scholarships and grants. Students will still be expected to contribute toward the cost of attendance through moderate earnings from summer and academic year jobs…

…The plan, which takes effect in fall 2019, will impact all degree-seeking undergraduates – including continuing students – who are eligible for aid based on need. Some families may qualify for even more aid depending on their circumstances. Families with atypically large assets or certain unusual circumstances may not qualify for this need-based aid.

[Twoin18]

But note that the page detailing their merit scholarships has now been removed: https://financialaid.rice.edu/scholarships.aspx
Looks like a shift away from merit towards need only.

[patsmom]

That may be temporary while they rewrite their scholarship page. Give it a day or two.

[SatchelSF]

Up already!

https://financialaid.rice.edu/merit-scholarships

[ilovebillyjoel]

Good! I put this in NPC and came up with zero aid so it has been off our list. I hope it will be updated when I re-do the NPC!