Rice University is celebrating over five years of providing access to higher education through the Rice Investment, a financial aid program introduced during the 2019-20 academic year.
This program covers the cost of attendance, including tuition, living expenses, and fees for low-income students, provides tuition assistance to middle-class students, and offers half-tuition assistance to upper-income students.
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Since the program’s inception, the university has awarded over $651 million in grant aid to students. For the 2023-2024 academic year alone, $152 million has been allocated, reinforcing Rice’s commitment to making education affordable for its students.
First announced in the summer of 2018, the Rice Investment positions the university as a leader in supporting students from low- and middle-income families.
While many universities offer excellent programs, the Rice Investment stands out by providing a full-tuition scholarship for students from families earning less than $75,000. Additionally, it offers comprehensive financial assistance for families with higher incomes. Students from families earning under $140,000 are eligible for support, while those with incomes between $140,000 and $200,000 can qualify for at least half of their tuition to be covered.
Thanks in part to this program, only 14% of Rice students graduate with any student loan debt, compared to 25% of students who graduated with debt before the program was implemented. Although this program is funded by donations, the university’s endowment continues to raise money to help expand the program for years to come.
To be considered for the Rice Investment, students must complete the standard financial aid application requirements for need-based aid.