Financial Aid Types

There are three categories of financial assistance sources available.

Need-based aid is available to United States citizens and documented permanent residents only and is calculated from a family’s financial records.
Merit-based aid is available to freshman applicants only and rewards exceptional talents within our applicant pool.
- Rice-based merit scholarships
- scholarships
Deferred payment plans are available to all families regardless of financial status.

You should become familiar with some of the financial aid terms.

Need-based Aid

To receive need-based financial assistance, students must demonstrate eligibility by submitting three types of documentation:

Based on this documentation of family income, assets, and obligations, our Office of Student Financial Services will determine the amount you and your family can be expected to pay for your education.

If that figure is less than the cost to attend Rice, we will prepare a package of grants, loans, and/or work study to make up the difference. For freshmen, any merit scholarships awarded during the admission process will be included in this package.

We strongly encourage all families to apply for need-based financial aid. Many considerations are built into the formula used to compute your financial aid eligibility, so we can’t predict who will be eligible or the size of the award without a completed financial aid file.

Merit-based Aid

Rice University offers merit scholarships to students whose scholastic and personal achievements distinguish them as “impact people” within our highly competitive group of admitted students. Recipients tend to be outstanding scholars with talents and achievements that add creative drive and flavor to the Rice population.

Past recipients include political and community service leaders; researchers and math/science competition winners; creative and performance artists; entrepreneurs; scholar–athletes; and talented authors, poets, and journalists.

All admitted freshman applicants are automatically considered for all merit-based scholarships. No separate application forms or interviews are necessary. Scholarship winners are notified by the Office of Admission at the time of admission.

Deferred Payment Plan

The cashier’s office offers a deferred payment plan to all families of enrolled students. The payment plan is designed so that students or parents can pay over the course of the semester as opposed to paying the full amount of tuition prior to the start of the semester.

The plan requires a 25 percent down payment of tuition, fees, insurance, and room and board. The down payment is due by the date printed on the billing statement. The remaining amount will then be split into three installments that include a small interest charge. The installments are due monthly during the semester.