<p>I don’t know much about Rice, just picked them because their endowment is large and undergrad enrollment is small, then gathered that info quickly from their published data (I hope it’s correct). But let’s assume half the students who go to Rice don’t need any need-based aid at all. Then you’re up to $11,000 per year per remaining student. I imagine only a handful get a full ride. And I have no idea if loans are included in the $5,500.</p>
<p>Some schools have large endowments and award only a tiny amount of merit aid so they can use available $ to meet 100% of need without any loans. The tricky part for parents is in how need is calculated.</p>