<p>Rice caps student loans at $10,000 for undergrads now - and $0 if your family makes less than $80,000 a year. Merit scholarships are awarded for RD and ED students, so no benefit to applying ED there. I strongly suggest that you and your parents sit down and run the FAFSA calculator here: [Expected</a> Family Contribution (EFC) Calculator](<a href=“http://talk.collegeconfidential.com/efc/]Expected”>http://talk.collegeconfidential.com/efc/) and take a look at approximately how much you and your family will be expected to contribute to your college education BEFORE you make apply to colleges. And I would strongly recommend that you NOT apply ED to Rice. You are not certain enough about Rice and you are not certain enough about your financial situation - better to apply to a number of schools and compare financial aid packages. JMHO ;)</p>