Rice University’s undergraduate tuition for the 2014-15 school year will be $39,880, up from $38,260 for the current year. The total cost, including $13,400 for room and board and $686 in mandatory fees, will be $53,966 – an increase of 3.9 percent over the current year.
“We worked very hard to keep the increase in tuition and fees low while still being able to ensure that, with support from our endowment and contributions from generous donors, we will sustain the high quality of education and breadth of experience that students get at Rice,” Rice President David Leebron said. “We’re also increasing the amount of financial aid we provide to keep Rice affordable and accessible to qualified students from all backgrounds, which has been a historic and fundamental value at Rice.”
As in previous years, Rice’s tuition continues to be about $5,000 to $6,000 less than at peer research universities. And Rice’s generous financial-aid policy remains in effect: Freshmen entering Rice who qualify for need-based aid and whose annual family income is $80,000 or less are not required to take out loans to pay for their education; required loans for incoming freshmen who have demonstrated financial need are limited to a total of $10,000 for their four undergraduate years at Rice.
Rice has a need-blind admission policy under which students’ academic qualifications for admission are reviewed with no consideration of their financial situation. The university provides financial support through a combination of scholarship grants, loans and work-study programs. Sixty percent of all undergraduate students at Rice receive some form of financial aid, and 17 percent currently receive federal Pell Grants.
Tuition for doctoral students will increase 4.2 percent to $39,880. Tuition for graduate students in music and architecture will be $26,420 and $29,290, respectively. Tuition for students entering the professional master’s programs will range from $29,000 for natural sciences to $32,000 for engineering. For students in the full-time MBA program at Rice’s Jones Graduate School of Business, tuition will be $50,400.
“Kiplinger’s just ranked Rice University the No. 1 best value among private schools with under 5,000 undergraduate students,” said Chris Muñoz, vice president for enrollment. “That’s a reflection of the quality of education and the quantity of financial aid offered at the university. When you consider that the Princeton Review currently ranks Rice No. 1 for best quality of life and No. 2 for happiest students, an education at Rice University and its beloved residential college system in the wonderful city of Houston becomes even more appealing.”