A

Adjusted Gross Income

An individual's adjusted gross income (AGI) as reported to the Internal Revenue Service (IRS). The rules for calculating AGI are set by the IRS, not the Department. The AGI may differ from the Total Income.

B

Books & Supplies

An allowance estimated for books and supplies required of all students in the same course of study.

C

College Financing Plan

A consumer tool designed to help collect and review information that prospective students receive about costs and financial aid so that they can make informed decisions about which postsecondary institution to attend.

Cost of Attendance (COA)

The estimated cost of attending this institution for one academic year, including both direct and indirect costs.

Course Materials

Estimated costs for materials or supplies required of all students in the same course of study.

CSS Profile

The CSS Profile is an online application used by colleges and scholarship programs to award non-federal institutional aid.

D

Demonstrated Need

The gap or difference between the Cost of Attendance (COA) and Expected Family Contribution (EFC). When the EFC is equal to or greater than the COA, there is no demonstrated need.

Direct Costs

Expenses the student/family pays to the college. For Rice students living on campus, direct costs included in our cost of attendance budget are tuition, fees, room and board (meal plan).

E

Educational Loan

A form of financial aid that must be repaid with interest. Educational loans have varying interest rates and repayment terms. Additional information is available online at financialaid.rice.edu/types-aid/loans

Equipment

Reasonable allowance for the rental or purchase of a personal computer, as determined by the institution.

Expected Family Contribution (EFC)

A measure of how much the student and his or her family can reasonably be expected to contribute to the cost of the student’s education for the year. The EFC is calculated according to Rice’s institutional formula and is based upon the information provided by the student and his or her family through the FASFA, CSS Profile and supporting documents.

F

Federal Pell Grant

A grant provided by the federal government to qualified undergraduate students who demonstrate exceptional financial need and have an Expected Family Contribution below a threshold designated annually by the U.S. Department of Education, based on the amount of program funds appropriated by Congress.

Federal Supplemental Educational Opportunity Grant (FSEOG)

A grant provided by the federal government to qualified undergraduate students who demonstrate exceptional financial need.

Fees

Mandatory fees normally assessed to enrolled students.

G

Gift Aid

Funds awarded to the student that do not have to be repaid, unless the student fails to meet certain terms, such as a service requirement, specified as a condition of the grant. Gift aid includes awards with titles such as grants, scholarships, remissions, waivers, etc.

Grant

Gift aid awarded to the student that does not need to be repaid. Grants are typically based on financial need.

I

Indirect Costs

Estimated expenses incurred as a result of attendance that the student/family may pay to a third party (merchant, landlord, etc.) other than the college. Indirect costs included in Rice's cost of attendance budget are personal expenses, transportation, and books and supplies.

L

Living Expenses

The estimated food and housing costs to be incurred by the student attending the institution on at least a half-time basis.

M

Merit Scholarship

Gift aid awarded to the student that does not need to be repaid. Merit-based scholarship recipients generally distinguish themselves scholastically and personally even within our highly competitive group of admitted students.

N

Net Cost/Net Price

Amount of direct and indirect costs remaining after all gift aid (scholarship and grant) is subtracted.

O

Outside Aid

Resources from outside of Rice such as high schools, communities, scholarship foundations, employer tuition benefits, and other government, state, city, or private agencies. Outside aid is required to be reported to the Office of Financial Aid and will reduce the need-based financial aid offered. Additional information is available online at Outside Aid.

P

Personal Expenses

The estimated cost for miscellaneous expenses for a student attending the institution on at least a half-time basis.

S

Satisfactory Academic Progress

A required measurement of a student’s academic progress toward their academic goal. For programs lasting more than one year, Satisfactory Academic Progress (SAP) must be assessed at least annually.

Self-help

Financial aid in the form of loans or student employment. Loans are used to help pay the remaining net costs after gift aid is deducted. Student employment earnings (including work-study awards) are generally not deducted from billed costs but can be used to help cover indirect costs and are paid in the form of wages to the student.

Student Aid Index

The Student Aid Index (SAI) is an eligibility index number that a college’s financial aid office uses to determine how much federal student aid the student would receive if the student attended the school. This number results from the information that the student provides in their FAFSA form.

T

Total Income

A combination of taxed and untaxed income, which may differ from the Adjusted Gross Income.

Tuition

Cost for course instruction.

Typical Assets

Assets include but are not limited to cash and savings, investments, home equity, business worth, farm worth and other real estate equity. Retirement savings in a qualifying account (i.e., IRA, 403[b], 401[k], etc.) are not included. Families with significant assets atypical for their income level may not qualify for The Rice Investment. A holistic review is given to each application to determine eligibility and Rice reserves the right to make the final determination regarding eligibility for aid.

U

Untaxed Income

The term “untaxed income” means any income excluded from federal income taxation under the IRS code. Read more about determining total income.

W

Work Study

A program that provides part-time employment to students attending institutions of higher education who need the earnings to help meet their costs of postsecondary education. Additional information is available online at Student Employment.