<p>One of Rice's biggest competitive advantages was the differential between its costs and comparable private schools. I see that advantage disappearing. Clearly the super-bright kids receiving merit aid may not notice, but the middle-of-the-pack, middle-class families will. </p>
<p>As a Floridian, Texas was not on our radar screen. However, the quality of Rice combined with it's "bargain" price-tag raised its visibility. Rice's dramatic increases, which portend more sizeable increases over my S's 4 years, has reopened our consideration of other schools. With the cost differential shrinking, it's harder to tip the balance in favor of Rice because "it's as good as but much cheaper than [fill in the blank] ."</p>
<p>I totally agree with all of you.
If my parents EFC was what they are actually paying, I'd be getting plenty more need based aid. This way, I have to work through school and likely take loans - hopefully it will be worth the struggle.
In a sense, colleges do redistribute wealth - it's just that their assesments of who's wealthy do not always agree with ours! As the cost of Rice increases, so too does their financial aid budget, albeit not at the same rate.
The only people that the tuiton raise is good for are people with incomes of less than $30,000 per year - they will graduate Rice loan free!
I am interested to hear how satisfied you all are when you get you package.
I have a question of my own - assuming the formula for calculating need doesn't change, the only people who will really be affected are those who didn't qualify for need based aid at all, right? Which isn't a huge percentage (although I can totally feel for them!!!). Anyone who was going to get need based aid will still be getting the same amount, maybe just more loans than before... oh well.</p>
<p>Gator - to be clear, Rice didn't raise tuition for returning students too, too much. The increase was about 5%. Which is pretty standard. The 12% was just for new freshmen - so don't be expecting 12% yearly increases or anything.</p>
<p>I know of a couple, both of them graduated from Rice ca. 12-14 years ago. They were shocked to hear the >$30k price tag. During their time, it was like $7k for everything. Clearly, Rice is not a bargain it once was.</p>
<p>Tuition is over $30k at many of the selective private schools. In the northeast, room and board is easily over $10K. So you are looking at around $45K at those schools. Rice is still $7-10K less, but I do agree that the difference is shrinking. I have heard that the school is increasing merit awards, but I have not verification of this. That is partly why I see people eyeing Some of the other southern schools with some merit aid like Tulane, Miami, or with lower sticker prices which many of the state school do have, and with cheap room and board as well.</p>
<p>i agree with gatorowl... one of the biggest reasons i decided to go to Rice was because it was cheaper and they would meet 100% or "dem need" <em>sigH</em>.. i guess they don't really take house mortages and all that into consideration as much xP.. owell~ i'm still glad i'm going.. now i just have to apply like crazy for scholarships</p>
<p>smartguy, the purpose of bumping is defeated when you bump like 20 other threads at the same time. Instead, it just floods the board with useless updates.</p>
<p>I knew the other universities would be posting their tuition increases soon.... Dartmouth tuition/fees/room/board $41355. Carleton, $40,467., Swarthmore $41280. Rice's 32,726 for incoming freshman doesn't seem quite as high in comparison. (Rice sophmores will pay $31,246)</p>