Rice University Announces Major Tuition Relief for Lower-Income Students
From the next academic year, Rice University’s students from middle and low-income families will be able to receive free education.
On Tuesday, the university announced its plans to offer full-tuition scholarships and grants to middle-income undergraduate students under The Rice Investment, a new financial aid plan.
Students with family income between $65,000 and $130,000 will be eligible to receive full tuition scholarships, while students with income between $130,000 and $200,000 will receive scholarships covering half of their tuition.
Students, whose family income is less than $65,000, will receive free tuition along with covered mandatory charges. With this move, the university aims to reduce the burden of student debt.
“Talent deserves opportunity,” Rice President David Leebron said. “We’ve built on our already generous financial aid to provide more support to lower-income and middle-class families and ensure that these students have access to the best in private higher education.”
Scholarships and grants will be available for undergraduate students, including those who are continuing their education. The university is willing to extend more aid to the families based on their circumstances.
“The Rice Investment is just that – an investment in the limitless promise of all students who demonstrate talent, initiative and drive regardless of their background or their ability to pay for college,” Leebron said. “We are determined to continue to reflect our roots and make our education affordable for all admitted students, whatever their financial background.”
The university, with the support of its alumni, is heading for a $150 million fundraising campaign to support its investment program.