Frequently Asked Questions
1. In determining aid, does Rice University really review parent and student income tax returns and W-2 forms?
Yes, we review each aid application and its supporting documents prior to awarding aid. Completed tax returns must be submitted to our office before we can make an aid award.
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2. How does Rice determine parents' expected contribution?
Rice considers it the responsibility of parents to contribute to students’ educational costs. We calculate each family's contribution in part by using a federal methodology approved by Congress, but we also consider the financial resources available to the parents. Although Rice recognizes that parents have many financial obligations and preferences for how to allocate their resources, we expect that a student’s undergraduate education will be a priority in the use of those resources.
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3. If the parents' tax return reflects a very low Adjusted Gross Income (AGI), how does Rice determine their family contribution?
In some cases, Rice recognizes that due to business and other deductions, the reported AGI does not represent a family’s financial strength. For these families, Rice determines a family contribution based on other financial information reported to our office. We will require additional information documenting your income streams should you request that we review your financial aid offer.
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4. Why is there a student contribution?
Rice believes that all students should contribute to meeting their cost of attendance, either through savings or investments or through earnings from employment during the academic year and summer.
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5. Why could the general student budget used in awarding me aid differ from my actual costs of attending Rice?
The general student budget reflects the average budget for a student attending Rice; individual budgets are not created for each student based on his/her actual expenses. We award financial aid based on the average budget. In most instances, the budget is not increased unless a student documents higher expenses and wishes to secure additional loan funding.
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6. What is the difference between need-based and merit scholarships?
Need-based scholarships are awarded by the Office of Financial Aid based on a family’s income profile. Merit scholarships are granted by individual departments and renewed by the Admissions Office. The Office of Financial Aid plays no role in the selection of merit scholarship recipients.
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7. Why could the total amount of my need-based awards differ from year to year?
Your financial aid eligibility is reassessed ever year. Many factors can affect a student’s need-based award eligibility; some common ones include changes in a family's income or assets, in the number of children enrolled in an undergraduate program, or in the amount of merit aid the student receives.
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8. How many semesters is a student eligible for Rice sponsored aid?
A student is eligible to apply for Rice-sponsored aid during his/her first eight semesters at Rice. Students enrolled beyond eight semesters may apply for federal and state aid for two more semesters. Even if a student attends school part-time during a semester or withdraws in the middle of a term, that semester is counted towards the eight semesters of Rice-sponsored aid available to him/her. (Architecture students may apply for Rice-sponsored aid for two terms following their preceptorship.)
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9. If I submit special circumstances one year and my aid package is adjusted, why might it not be adjusted in subsequent years?
If special circumstances are submitted but your next tax return shows that your family had substantially more income for the year than anticipated, we will not make an adjustment for the following year.
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10. If my family has asked for a file review and are unhappy with the response, what is the next step we can take?
File reviews are carried out with great care and under the guidance of the Office of Financial Aid's upper administration. If you are unhappy with the results of a review, you can request that an administrative committee additionally review the file. However, in very rare circumstances does that committee recommend changes to the review response prepared by the Office of Financial Aid Review Committee.
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11. Why does the budget in my award letter and my bill statement show different costs?
In calcuting your financial need, we rely on the same average comprehensive cost of attendance that the Cashier's Office uses to generate your bill, including tuition, room and board. However, we add other expected costs that are not reflected on your bill, such as transportation and personal expenses.
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12. If my family needs help in meeting our family contribution, what options are available to us?
Rice offers a payment plan that allows families to pay in installments. We also participate in the federal parent loan program (PLUS), which allows parents to borrow low-interest loans. Many families take advantage of both the payment plan and the PLUS loan program to meet their expected contribution. Information about the payment plan and the PLUS loan is mailed to you with your summer bill. Students also have the option of helping meet their family contribution through both subsidized and unsubsidized student federal Stafford loans as well as private loans.
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13. If my parents or I am offered a federal loan, what do we need to do to have the funds credited to my student account?
To complete the loan process, you need to submit an online loan application and sign a promissory note. For more information, please see Loans.
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14. If I enroll for less than 12 credit hours, will my financial aid change?
Yes, your financial aid would be prorated to reflect your reduced enrollment. No financial aid is available if you enroll for less than six hours.
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15. If I am considering studying abroad, can I apply for financial aid through Rice?
Yes. If the program you are attending is more expensive than Rice, we will grant aid based on Rice's standard cost of attendance. If the program is less expensive, we will adjust your cost of attendance. You should be aware that Rice will not release funds early so that you can pay for airfare or other costs that arise prior to the start of the Rice semester. You will need to make arrangements to meet these costs on your own, which you can make up when you receive your Rice funds.
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16. Is financial aid offered for the summer term?
Students who have remaining loan eligibility may be able to borrow funds to meet their summer educational costs. These funds cannot be used to pay for coursework that is not sponsored by Rice University.
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17. If I have additional questions and I call or e-mail the Office of Financial Aid, how long will it take to receive a response?
Our office makes every effort to respond to your questions as soon as possible. Ideally, we try to respond on the same day that you contact us. However, during our peak periods in the summer and the first few weeks of each semester, it may take us a few days to get back to you. If you are requesting that we review your financial aid file, please allow several days for a decision.
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