MAcc Student Loans at Rice Business in Houston, Texas

Tuition and Fees 

Tuition for the 2019-2020 MAcc program is anticipated to be $54,500 and is billed half in fall and half in spring. An enrollment deposit of $500 is due upon acceptance and will be applied to your first semester bill.

Students who have not completed the accounting prerequisite courses BUSI 405-Issues in Financial Reporting I and/or BUSI 440-Auditing have the option to take one or both courses in the summer preceding their matriculation in the fall. The tuition cost of each course is expected to be $3,000. Students will be financially responsible for providing their own room and board.

Students generally use a combination of the following resources to cover the cost:

  • Personal resources
  • Jones School Admissions Scholarship
  • Student Loans: our system begins processing in late May for the coming academic year
  • Semester Payment Plan

To assist you with creating your plan for financing your degree, please reference the Estimated Cost of Attendance document.

International students are required to demonstrate sufficient funding to cover the cost of the MAcc program in order to obtain a student visa. This process begins with completion of the International Financial Declaration Form for Master of Accounting (MAcc) Students. Learn more about funding options for international students.

Billing and Payment Arrangement Deadlines

  • Fall: Billing begins the first week of July with a payment deadline of August 10
  • Spring: Billing begins the first week of December with a payment deadline of January 10

Due to the generosity of our alumni and benefactors, each year MAcc students are eligible for one of our named scholarships, ranging in amounts from $5,000 to full-tuition:

  • James S. Turley-EY Leadership Development Initiative Scholarship (full-tuition)
  • Verne F. Simons Scholarship Fund
  • John T. McCants Prize
  • Leonard A. B. Parker Memorial Scholarship
  • Lawrence J. O'Connor, Jr. Endowed Fund (two scholarships)
  • J. Kenneth S. Arthur Scholarship
  • Leon Nad Memorial Scholarship
  • H. Joe Nelson III Scholarship

In order to be considered for these scholarships, applicants will need to complete an additional essay within their application. Applicants will be considered for scholarships from general funds as well.

Thanks to the financial support of EY, one of the “Big Four” public accounting firms, we also anticipate having two named full-tuition scholarships specifically for members of groups that have traditionally been under-represented in the accounting profession.

Furthermore, thanks to our collaboration with Deloitte, another of the Big Four firms, Rice MAcc students will engage in a week-long, off-campus course illustrating the intersection of public policy and accounting. The Deloitte Foundation’s financial support will cover a substantial part of transportation, lodging, meals, and programmatic expenses associated with this innovative course.

 

Federal, state and private student loans are available to help finance degrees for MAcc students.

Federal Student Loans

Federal Direct Student Loans are issued through the Department of Education and are available to US Citizens and US Permanent Residents (green card holders).

The first step is to complete the Department of Education’s 2018-2019 Free Application for Federal Student Aid (FAFSA), which is available as of October 1, 2017, for the coming academic year. Rice University’s FAFSA school code is 003604.

Once you are admitted to the program and your enrollment deposit is submitted, our system begins processing FAFSAs in late May. Loan application instructions will be emailed to your Rice email account beginning June 1.

The Department of Education offers two types of Federal Student Loans.

Federal Direct Unsubsidized Loan
The maximum academic year (Fall + Spring semesters) amount is $20,500.

  • Interest Rate: 6.6% fixed
  • Origination Fee: 1.066%
  • Loan Disbursement: 50% in Fall and 50% in Spring
  • Interest Accrual: begins to accrue on the amount disbursed from the point of disbursement
  • Minimum Enrollment: a minimum of half-time (4.5 credits/semester)
  • Approval: completion of the FAFSA

Federal Direct Graduate PLUS Loan (a.k.a.: Grad PLUS)
There is no particular academic year maximum, however, the amount borrowed may not exceed the cost of attendance.

  • Interest Rate: 7.6% fixed
  • Origination Fee: 4.264%
  • Loan Disbursement: 50% in Fall and 50% in Spring
  • Interest Accrual: begins to accrue on the amount disbursed from the point of disbursement
  • Minimum Enrollment: a minimum of half-time (4.5 credits/semester)
  • Approval: completion of the FAFSA and a review of your credit history

The above terms are for the 2018-2019 academic year. Please visit Federal Student Aid for more information.

Loan Repayment
Prior to entering repayment, the Department of Education assigns a borrower's student loan(s) to a third-party Loan Servicer. The following are important elements of loan repayment.

  • Repayment is deferred while you are enrolled at least half-time (4.5 credit hours per semester)
  • There is a 6-Month Repayment Grace Period following graduation, withdrawal, or the point at which you drop below half-time enrollment
  • The Standard Repayment Plan is 10 years, but repayment can span up to 30 years depending on eligibility
  • There is no early repayment penalty

Private Student Loans are an additional funding option to be used in combination with, or as an alternative to, Federal and State Student Loans.

The application process is student-initiated and directly with the lender of your choice. Approval and loan terms are based on the applicant's (and co-signer's, if applicable) credit worthiness as determined by the lender. The Office of Financial Aid Private Loans page contains an historical lender list* that may assist your research. If interested, please navigate to that page and select the ELMSelect link at the bottom. Due to the loan processing timeline, we recommend you begin the application process no earlier than May 15 for the coming academic year.

Please note that you are not limited to this list or obligated to borrow from any specific lender. If you do not see your desired lender, please contact them directly.

* Rice University does not promote, nor has affiliation with, any student loan lending institution. It is your responsibility to choose the lender that is right for you.

What is the FAFSA?
The Free Application for Federal Student Aid is an online application provided by the Department of Education. It consists of (a) personal/household information and (b) the previous tax year's information and must be completed each academic year.

Why is the FAFSA needed?
The FAFSA is a supporting document and is the first step when applying for both Federal and State Student Loans. It is not required for Private Student Loans.

Am I eligible for student loans?
Domestic students (US citizens and Permanent Residents) are eligible to apply for Federal, State, and Private Student Loans. If you are an International Student, please reference the International Student section.

When do I start applying for student loans?
The loan application process begins after (a) you are admitted to the program and (b) you submit your enrollment deposit. (c) If applying for Federal and/or State Student Loans, the first step is to complete your 2018-2019 FAFSA. Our system begins processing FAFSAs and certifying loan applications in late May for the coming academic year. Application instructions for Federal and State Student Loans will be emailed to your Rice email account beginning June 1.

If applying for Private Student Loans, we recommend you apply no earlier than May 15. Processing begins around June 1.

What is the Estimated Cost of Attendance (COA) budget?
The Estimated Cost of Attendance budget consists of direct costs (tuition & fee) and estimated allowance for indirect costs (room & board, transportation, etc.) for one academic year. You may borrow up to the COA minus other funding resources such as scholarship, etc.

How much should I borrow?
We always encourage you to borrow conservatively. In deciding how much to borrow, a basic principle is to borrow sufficient funding to cover the costs for the academic year (Fall + Spring).