Rice University has announced that they will increase their no loan threshold to $80,000 for freshman starting in the fall of 2009. This means that next year’s freshman from families with income below $80,000 will have no loans in their financial aid packages. The no loan policy previously was for families with income below $60,000.
Rice has also announced that they will cap loans for incoming need eligible freshman at $10,000 for their four years at Rice. This limit was $14,500 for freshman that began this past fall.
Rice has has long been recognized as one of the best values among the highly selective colleges as they not only meet 100% of a students need but also have merit awards available. Approximately 30% of freshman receive a merit scholarship.
Rice is currently in the process of expanding its undergraduate student body by 30% before 2012. For top students, Rice just became an even more attractive option.