HOUSTON — Rice University is giving middle-income family’s an educational boost with a chance to earn an undergraduate degree with zero tuition cost!
The private school announced a new program Tuesday designed to help undergraduate students from families with household incomes between $65,000 to $130,000. According to administrators, full tuition scholarships and grants will be offered to students from middle-income families under a new financial aid plan titled The Rice Investment.
The Rice Investment program also includes scholarship opportunities for families making $130,000 to $200,000.
Support for students from low-income families will also be significantly enhanced under the program, and students with family incomes below $65,000 will receive grant aid covering not only their full tuition— but also all of their mandatory fees and room and board!
Administrators hope the program will reduce the burden of student debt. As well as, address challenges faced by families with moderate incomes.
Starting in the next academic school year, students who qualify for the program will no longer be required to take out loans as part of their need-based financial aid packages. Those loans will be replaced with grants and scholarships.
“Some families may qualify for even more aid depending on their circumstances. Families with atypically large assets or certain unusual circumstances may not qualify for this need-based aid,”school officials said in a release.
The Rice Investment kicks into gear in Fall 2019.
“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,” Rice President David Leebron said.
“We are determined to continue to reflect our roots and make our education affordable for all admitted students, whatever their financial background.”