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Rice University announces free tuition for middle income undergraduate students
Posted on 9/18/18 at 6:52 am
Posted on 9/18/18 at 6:52 am
quote:
Rice University officials announced Tuesday they will provide full tuition scholarships to undergraduate domestic students from low- and middle-income backgrounds starting in the fall of 2019, the latest effort by a major university to respond to rising concerns about soaring higher-education costs and burdensome student debt. The new financial plan, The Rice Investment, will allow full-tuition scholarships and grants to be offered to undergraduate students whose family incomes fall between $65,000 and $130,000 a year and who qualify for need-based financial aid, according to a news release issued Tuesday by the university.
quote:
Students who come from families with an income of $130,000 to $200,000 can also receive scholarships that cover at least half of their tuition. A student whose family makes below $65,000 will be able to receive grant aid that covers their full tuition and mandatory fees, room and board. The financial aid is open to both incoming and continuing students at Rice, the private research university that sits on 300 acres in Houston. “It’s really important to us that all families feel that if their child is admitted to Rice that they can make this work, that they can afford it,” said David Leebron, the university president, in a phone interview Monday. “It’s very clear that over the past decades, that the difference between what a middle-income family feels they can reasonably afford and what a college education costs has grown larger.”
LINK
This post was edited on 9/18/18 at 7:00 am
Posted on 9/18/18 at 6:56 am to Dire Wolf
Rice must have a hell of an endowment.
Posted on 9/18/18 at 6:56 am to Dire Wolf
Good for them. That is awesome.
Posted on 9/18/18 at 7:00 am to chinhoyang
quote:
Rice must have a hell of an endowment.
I knew Owlfan86 would eventually step up and let loose of the wallet.
He has been short-arming tabs for years.
Posted on 9/18/18 at 7:10 am to Dire Wolf
quote:
It’s really important to us that all families feel that if their child is admitted to Rice that they can make this work, that they can afford it,”
I'm guessing this statement means no dumbasses allowed. The screening process will be more intense, probably to the point that any student admitted would already have full ride offers to multiple places. So basically this is just good pr to make people think they care, but really it won't be any actual change. Well, they might get a few more smart kids.
Posted on 9/18/18 at 7:14 am to Dire Wolf
So those who do pay will pay more?
Posted on 9/18/18 at 7:18 am to Dire Wolf
So rich dumbasses will be the only ones actually paying to go to Rice. And they will probably be paying big money.
Big gamble by Rice. Could have a horrible effect on them in the future, or it could pay huge dividends.
Big gamble by Rice. Could have a horrible effect on them in the future, or it could pay huge dividends.
Posted on 9/18/18 at 7:20 am to Steadyhands
quote:
I'm guessing this statement means no dumbasses allowed. The screening process will be more intense, probably to the point that any student admitted would already have full ride offers to multiple places. So basically this is just good pr to make people think they care, but really it won't be any actual change. Well, they might get a few more smart kids.
It’s a great school and no dumbasses are allowed now. And there are plenty of kids who will benefit that don’t have full rides elsewhere.
Posted on 9/18/18 at 7:24 am to Dire Wolf
Nothing is free.
Follow the money. Somebody is footing the bill.
Follow the money. Somebody is footing the bill.
Posted on 9/18/18 at 7:26 am to LSUSkip
By making $215,000 you'll be on the hook for the $40,000 or so annually that it actually costs. More punishing of the successful.
Posted on 9/18/18 at 7:29 am to fjlee90
quote:
Nothing is free.
Follow the money. Somebody is footing the bill.
Yes, their endowment...
Posted on 9/18/18 at 7:32 am to Junky
I’m happy to see Rice do this. It’s a private school so let them spend their money on something they believe in.
Posted on 9/18/18 at 7:32 am to Dire Wolf
quote:
family incomes fall between $65,000 and $130,000 a year
Too bad no one on the OT will qualify.
Posted on 9/18/18 at 7:34 am to LSUlefty
quote:
So those who do pay will pay more?
They have already raised 150 mil for the scholarship. Rice does not have a academic donation problem
Posted on 9/18/18 at 7:34 am to LSUSkip
quote:
Could have a horrible effect on them in the future, or it could pay huge dividends.
Solid analysis
Posted on 9/18/18 at 7:34 am to Jake88
quote:
By making $215,000 you'll be on the hook for the $40,000 or so annually that it actually costs. More punishing of the successful.
You're making a weak argument, IMO.
Posted on 9/18/18 at 7:35 am to fjlee90
quote:
Nothing is free.
Follow the money. Somebody is footing the bill.
If I follow it I’m guessing it won’t lead me to fjlee90.
Posted on 9/18/18 at 7:36 am to Dire Wolf
This means that Rice is placing itself in competition with the elite colleges, who all do something similar. At most top colleges the number of students on merit scholarship is very low, but the number receiving some amount of need based aid is high. It’s a sliding scale cost schedule which is made possible by a large applicant pool and a large endowment. Most admissions departments take economic ability to pay into consideration in the admission decision, so they control the cost. Only the wealthiest institutions have need blind admissions.
This post was edited on 9/18/18 at 7:37 am
Posted on 9/18/18 at 7:39 am to chinhoyang
quote:i make peej jealous
Rice must have a hell of an endowment.
and Rice was free to anyone that could get in 'til the early mid 70's.
This is merely a return to the original plan
This post was edited on 9/18/18 at 7:42 am
Posted on 9/18/18 at 7:39 am to fjlee90
quote:
Follow the money. Somebody is footing the bill.
Correct, just like TOPS they will first squeeze the federal govt for all possible grants and scholarships and then the endowment makes up the rest. So with inflated tuition costs they are writing off pennies on the dollar.
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