Rice University is trying to make higher education more affordable. The renowned Houston university is now expanding financial aid for low income families, as part of the Rice Investment Program.
"The Rice Investment will give more students from middle-income families an extraordinary opportunity at an extraordinary university," said Bobby Tudor, the chairman of the university's board.
It will award full tuition scholarships to undergrads with family incomes between $65 and 130,000 who are eligible for need based aid. Students with family incomes below $65,000 will get grants covering full tuition, fees, and room and board. The program will launch next fall.
"This bold step reflects our founding principles," Rice President David Leebron said. "When Rice opened its doors in 1912, we didn't charge tuition. Rice changed its charter in 1965 to begin charging tuition, but immediately began offering scholarships to eligible students. This significantly builds on that legacy and on our commitment to make a Rice education accessible and affordable for students from all backgrounds.
For more information on Rice, visit www.rice.edu. For more information on The Rice Investment, see https://rice.edu/thericeinvestment.