by our College Data Analytics TeamFinancial aid in the form of loans, grants, work-study, and scholarships is one way colleges reduce the cost of attendance so most students can actually afford to attend.
Curious about the financial aid opportunities at Rice and what you may be eligible for? Explore the answers here.
$47,887.00 is the typical Rice University’s first year financial aid package. 70% of reshman students get financial aid, most of which is in the form of grants and scholarships
Student loans come included in financial aid packages, however, the only true discount off of the price of college is a grant or scholarship that you do not need to pay back.
Worried about the student loans that might be part of a financing offer? View the average amount of debt per student at Rice University.
Institutional scholarships and grants refer to financial aid provided directly by a college or university to support students in covering their educational expenses. These awards can be either merit-based or need-based and do not require repayment. Merit-based institutional scholarships reward students who have demonstrated exceptional academic achievements, talents, or skills in specific areas. Such scholarships often take into account a student’s high school performance, standardized test scores, or extracurricular activities. On the other hand, need-based institutional grants are allocated to students who exhibit financial need. The amount awarded is usually determined by the student’s family’s financial circumstances and aims to cover the difference between the cost of attendance and the family’s capacity to pay. To assess eligibility for need-based grants, colleges and universities may use information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants play a crucial role in assisting students, as they can considerably lower the cost of college and make higher education more attainable.
The following numbers pertain to assistance that is supplied by Rice University.
60% of first-year students (574 total) were offered scholarships at Rice University, averaging $45,433.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 45% of first-year students (434 total) got federal grant aid, averaging $3,230.00 per person.
Amount of Financial Assistance Per Income Level
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 7.91% | $62,659.00 |
| Income 30k-48k | 5.10% | $65,762.00 |
| Income 48k-75k | 3.75% | $60,950.00 |
| Income 75k-110k | 2.60% | $47,405.00 |
| Income 110k + | 5.83% | $24,372.00 |
The table above displays students who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Get more info on Title IV here.
70% of the 961 undergraduates at Rice University receive some sort of grant aid. This is a total of about 574 students getting an average of $47,887.00 per person.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.