THE BEST COLLEGES IN AMERICA

Rice University

Houston, TX http://rice.edu/

Awarded one of America’s Best Colleges

Rice University is one of the most elite private colleges in the South, with an acceptance rate of 9% and a graduation rate of 92%.

Classes are small at the tree-lined, Houston-based university, with a tiny 6:1 student-faculty ratio. Its roughly 8,500 students have opportunities to work with some of the world's top researchers, and popular majors include social sciences, engineering and natural sciences, though Rice offers more than 50 undergrad majors in all.

Rice is relatively diverse, too. The undergraduate population is almost evenly split between men and women, about 28% of students are Asian, and 16% are Hispanic. Rice doesn't have fraternities or sororities. Instead, its social life revolves around its 11 randomly assigned residential colleges, where some 75% of undergrads live. Throughout the year, students compete in activities such as water balloon fights and the annual Beer Bike relay race, which requires cyclists to chug beer (or water) and then pedal laps.

Rice also attracts prestigious speakers and events. Its stadium has hosted a Super Bowl, and President John F. Kennedy delivered a famous speech about the space race there in 1962. Notable alumni include astronaut Peggy Whitson and prolific author-turned-professor Joyce Carol Oates.

Costs

Est. full price 2023-2024: $75,200

% of students who get any grants: 64%

Est. price for students who receive aid: $19,900

Average price for low-income students: $5,600

NET PRICE CALCULATOR

Admissions

Acceptance rate: 9%

GPA: N/A

Median SAT/ACT score: 1530/35

SAT/ACT required?: No

Undergraduate enrollment: 4,240

Financial Aid

% of students with need who get grants: 98%

% of need met: 100%

% of students who get merit grants: 5%

Average merit grant: $18,700

Student Success

Graduation rate: 92%

Average time to a degree: 4.1 years

Median student debt: $11,000

Early career earnings: $87,300

% earning more than a high school grad: 83%

Notes: Prices reflect in-state charges for public universities. Students who get merit grants are full-time undergraduates who had no financial need and were awarded grants. Graduation rate measures degree completion within six years for both transfer students and first-time students. Early career earnings are the median earnings for both graduates and non-completers, 10 years after they first enrolled.

Sources: U.S. Department of Education, Peterson’s, Money/Witlytic calculations.

Rice University tuition and fees

Estimated cost and due date

Tuition and fees at Rice University come to a total of $58,128. You’ll also need to factor in room and board, books, and living expenses while enrolled.

The due date for Fall is September 10, 2023. However, it's always a good idea to keep an eye on the university's official calendar or your student portal for any changes. Late payments may incur extra fees.

Feeling overwhelmed by the cost? That’s understandable – college can be expensive, but there are a variety of financial aid sources you can access, including student loans, grants, and scholarships. Here is a brief overview of the available options; for a more comprehensive step-by-step, read our How to Pay for College guide.

Exploring financial aid options at Rice University

Scholarships and grants

At Rice University, the average grant aid for undergraduates stands at an impressive $46,239, which includes awards from federal, state, local and college programs. One of the most common sources of aid for lower-income students is the federal Pell Grant; currently, 16% of students at Rice University receive this grant. To see if you can obtain assistance, you need to fill out the FAFSA.

State grants

Most states have initiatives that help students fund their college education; these are generally only available to those residing in the state and attending a college therein. Nevertheless, look into your state's qualification criteria to confirm. For example, Texas residents can apply for the TEXAS Grant, in addition to other available programs.

University scholarships, aka institutional aid

Colleges usually provide two kinds of financial aid. Need-based aid is based on your financial situation, while merit-based aid encompasses all awards that are not based on financial need. Merit scholarships can be based on academic success, artistic ability, leadership skills and more. At Rice University, 61% of first-year students receive a scholarship from the university, with an average amount of $47,455.

External scholarships

Don't forget to explore external scholarship opportunities. Many local organizations provide scholarships to assist students with college costs, and some scholarships have year-round deadlines, so you can receive funds after you’ve enrolled. Check out our guide on college grants and scholarships to gain more insight into the various types of gift aid.

Student loans

Federal student loans

Federal student loans are a popular way to finance educational expenses. These loans are provided by the government and feature low-interest rates and flexible repayment plans.

Private student loans

Private student loans are an alternative. These are offered by private lenders such as banks and credit unions. They can be used to cover expenses not covered by federal loans, but they usually have higher interest rates and less flexible repayment plans.

How to pay tuition bills at Rice University

If you are awarded a loan, grant or scholarship, the funds will usually be sent directly to the university. Any remaining balance must be paid by you. Tuition payments can be made online at https://www.rice.edu/.

The information included in this page contains data published in university sites, government public records and other vetted sources as of June 23, 2023. Be advised to validate this information with the university registrar or financial office.

This content was created with the assistance of AI technology and has been reviewed, edited and fact-checked by Money's editorial staff.