Understanding Your Aid Offer
During the academic year, financial
aid is disbursed to your student account in two equal disbursements (Fall and
Spring). The scheduled disbursements are
credited a week prior to the start of each term. We encourage you to log on to
account using your user name and pin supplied by the Office of the Registrar.
This will be our main communication channel to inform you of your financial aid
status, financial aid offer, charges and payments for tuition, course schedule,
grades and much more. Our packages may contain various types of aid as listed
below that may appear in your financial aid award. This will enable you to have
a better understanding of your Financial Aid Offer.
Rice Merit Aid is a scholarship fund that is awarded to academically outstanding
students. When applying for admission to Rice, you are automatically
considered for these awards by the Office of Admission. For more information,
please visit Merit Scholarships.
Rice Tuition Grant is
funding awarded to students with unmet institutional need-based financial aid eligibility
after the awards below have been added. Rice ensures that a student's
unmet financial need is entirely covered through various financial aid types.
To be eligible you must apply for financial aid. For more information, please
visit Applying for Aid.
Outside Scholarships are non-Rice funds received from a
third-party source. It is crucial for Rice to know of any outside scholarships
that you expect to receive. These scholarships are first used to replace
self-help aid in the need-based package, such as loans and work study. Subsequently, these may replace a
portion of any need-based institutional funds provided by Rice. If the Office
of Financial Aid becomes aware of any outside scholarships that are not
reported by a student, we will lower the student's institutional funds by the
same amount. For more information, please visit Outside Awards. To
report any outside resources, please visit ESTHER under
the following tabs Financial Aid/Award Status/Award for Aid Year/Resources
& Additional Information.
Federal or State Grants, such as the Pell Grant and the Texas Equalization Grant, are grants that
are provided by the federal or state governments based on your demonstrated financial need. To be
eligible for these grants, you must apply for financial aid. For more information, please visit Federal and State Grants.
Federal Work Study is an opportunity to work on
campus while attending Rice. We award $2500 in Federal Work Study or Rice Work for
students who choose to work while attending school. It is the student’s
responsibility to find employment on campus. To be eligible you must apply for
financial aid. For more information, please visit Student Employment.
Direct Subsidized/Unsubsidized Loans
federal loans that must be repaid. All students are eligible for Direct Unsubsidized Loans
regardless of need. Undergraduate students are eligible for a Direct Subsidized
loan if they have demonstrated need. Rice
will not award the federal maximum amounts unless it is requested by the
student. For more information, please visit Federal
Perkins Loans are low interest rate loans offered to students with high financial need. Undergraduate students have priority for this
loan since funding is limited. To be
eligible you must apply for financial aid. For more information, please visit Federal
Direct PLUS Loan for Graduate
Students is a credit-based, fixed rate loan that enables graduate or
professional students to borrow funds to meet their educational expenses. For more information, please visit Direct PLUS Loans.
Direct PLUS Loan for Parents is a credit-based, fixed rate loan that parents of undergraduate
students can borrow on the student’s behalf to meet educational expenses. For more information, please visit Direct PLUS Loans.
are credit-based loans that may have a variable or fixed interest rate. For more information, please visit Private Loans.
Rice University offers loan options
to assist you and your family with your educational expenses. Not all of these
loans are based on financial need and can be used to replace a portion or all
of your expected family contribution (EFC). If you are a Texas Resident, then
you may want to review the options under Texas