Loan Process

Rice University continues to work to lower student indebtedness. We package fewer loans for our students and meet the rest of their financial need with institutional funds. Loans, however, continue to be an important part of aid packages or as a means to help students meet their expected family contribution. Below are the different types of loans available to you.

Federal Student Loans: These loans are part of the Direct Loan Program, require U.S. Citizenship or Permanent Residency and at least half-time enrollment for eligibility. These loans include the following:

Subsidized Stafford Loan is a need-based and Unsubsidized Stafford Loan is a non-need based loan. Both loans have a fixed interest rate and repayment begins 6 months after a student graduates, withdraws or drops less than half-time enrollment.
Parent PLUS Loan is a credit based, fixed rate loan that parents can borrow on the student’s behalf to meet educational expenses.
Graduate PLUS Loan is a credit based, fixed rate loan that graduate or professional students can borrow to meet educational expenses.
Perkins Loan is a fixed rate loan that students with high financial need to obtain a subsidized loan. Each school is allotted a certain amount of funds for this program, and loans are available on a first come, first served basis. To accept your loan log on to http://www.ecsi.net/prom24.

Other Loan Options: Interest rates and borrower benefits for these loans vary greatly depending on an individual's credit score and may require a co-signer.

College Access Loan is a credit based loan for Texas residents only. Each school is allotted a certain amount of funds for this program, and loans are available on a first come, first served basis. To start an application log on to http://www.hhloans.com/borrowers/calfactsheet.cfm.
Private Loan is a credit based, variable rate loan that should only be considered once all federal loans have been exhausted. Although Rice maintains a list of lenders for private loans, we strongly urge you to research various lenders. To start an application, log on to https://lbw.tgslc.org.