anxiousmom

Hi all. On the Harvard board, two prospective student posters mentioned that they had just received an email from Rice about the new financial aid policy. It's not yet up on the website. Can anyone here post the text of the new policy. (I'd ask my own kids, but one has a makeup OrgChem test, and one is finishing up major project/paper. Also, I'm not sure if it was sent to current students, or just newly admitted or prospective students.) I'm anxious to hear what changes have been made. Thanks

yeahallie

I got the email:

Today, Rice University announced that tuition for the 2008-09 freshman class will be $29,960. One of the nation's most highly regarded comprehensive research universities, Rice has consistently kept tuition thousands of dollars below that of our peer institutions. Furthermore, Rice will increase both need-based and merit-based financial aid offerings. For families whose income is $60,000 or less, Rice will meet 100% of need eligibility without student loans. In addition, we will increase merit aid so that more families from all income levels will find Rice to be the best choice for undergraduate education in the country. For many years, Rice has been recognized as one of the top values in higher education by US News & World Report, the Princeton Review, and Time. What's new at other elite universities is tradition at Rice. Join an experienced community of diverse scholars. Be decisive, choose Rice.

Clendenenator

S***, I should have got in this year! I wouldn't have any loans! I don't think they'll change it for those of us who are already students.

But yeah, seriously there is no reason for anyone not to choose Rice now. Last year the only school that I wanted to go to more than Rice was Princeton, and the main reason for that was that the financial aid was better. Now they look about the same! Nice to see Rice using its $4 billion endowment on something good.

anxiousmom

Hopefully they will have a more specific statement up on the their website in the next few days. Clendenenator - unfortunately they can't undo your student loans this year, since they've already been issued. (They aren't more than $2700, correct?) But the policy will be in effect for subsequent years, and graduating with less than $3000 in loans is pretty sweet! I'm hoping they phase it in with higher income levels, too. Only time will tell....

JohnC613

yay more merit aid! I wonder what exactly that entails. More types of scholarships, or they just award more of the existing ones?
yay tuition still relatively "cheap" if you can call it that. That translates to a $5,000 scholarship to begin with for everybody.
OMG this harvard thing has everybody crazy.

JohnC613

So they're going to have more merit scholarships? That's fantastic
and the tuition is really nice. it's like a 5k scholarship to everyone