Full-Time MBA Marcia Lee '26 at the 2025 Scholarship Luncheon.
The price of an MBA can feel daunting, but unlike paying for a car or pair of designer shoes, the long-term return on your investment is real and significant.
To increase your return on investment, Rice Business invests more scholarship funding per Full-Time MBA student than almost every other school nationwide. More than 95% of our Full-Time MBA students receive scholarship support, with the average annual award topping $40,000 per year.
That level of investment comes from the giving from our alumni who have seen the difference this education has had on their careers and financial security. It demonstrates the belief in our students and reflects the talent and potential we see in applicants.
If you’re curious about how scholarships are funded, how awards are determined or what other aid options might be available to you as a Rice MBA, this guide will walk you through it.
Sourcing Rice Business Scholarships
Scholarships at Rice Business are powered by a combination of school investment and donor generosity.
Endowed scholarships
Endowed scholarships are permanent funds created through the generosity of our donors to support students year after year. These are invested as part of the university’s endowment, meaning the principal stays intact, and a portion of the earnings provides ongoing scholarship support for our students.
Image
Entrance to McNair Hall, home of Rice Business.
This structure helps attract exceptional students from different backgrounds, reduce financial barriers for talented individuals and benefit students for generations.
For donors, an endowed scholarship creates a lasting legacy through a named fund that reflects their values. For students, these scholarships offer support beyond the numbers — they establish a deep personal connection with the donors who made their education possible. Today, Rice Business has 90 of these long-term donor-created funds.
Annual Giving Scholarships
Annual giving scholarships also play an important role. These gifts are raised and awarded within the same year, offering immediate support rather than being invested permanently.
Annual giving scholarships are essential to Rice’s ability to remain accessible and competitive. Because they are renewed each year through the generosity of alumni, friends, and corporate partners, these scholarships give Rice the flexibility to meet the greatest need and strengthen each incoming class.
Every contribution from the Rice Business community makes a real and immediate impact for students.
George Andrews, associate dean of degree programs, at this year's scholarship luncheon.
Unlike some schools, every applicant to the Rice Full-Time MBA program is automatically considered for scholarships. Last year, more than 160 students received named awards.
“Scholarship decisions are made by our admissions and recruiting team in collaboration with our financial aid and external relations teams — intentionally incorporating multiple points of view to avoid bias,” says George Andrews, associate dean of degree programs.
In assessing MBA applicants, the team looks at indicators of academic readiness and professional trajectory, including:
Undergraduate performance
Test scores
Work experience
Leadership
Demonstrated impact
Clarity of career goals
“We also consider how a candidate will contribute to the classroom and the broader Rice Business community. The more a student brings to that environment, the stronger the scholarship potential,” says Andrews.
How MBA Scholarship Allocation Works
Each year, Rice Business sets a new scholarship budget for incoming MBAs. As applicants are admitted across rounds, awards are assigned based on the relative strength of each candidate within that round’s pool. That’s one reason we encourage students to apply early, when the pool is typically smaller.
This approach ensures consistency and fairness and helps shape a class with varied experiences and career goals. Admitted students learn about any scholarship awards in their admissions acceptance letter before the first semester begins.
Rice Business is known as one of the most generous with aid. Almost all Full-Time MBA students receive scholarship support, and the average total award now exceeds $80,000.
While I knew Rice was the perfect fit, I wasn’t sure it would be possible to return to school as a new mother. The James W. Crownover Scholars Fund made that dream a reality, opening doors for me to enter the full-time program and pursue my career ambitions.
Emily Smith
Full-Time MBA, Class of 2027
Additional Financial Aid Options
Scholarships are only one part of financing your MBA. Depending on your background, residency or service, you may also qualify for additional support. Many Rice MBA students combine several of these options:
Third-party scholarships. Our Student Financial Services office maintains a list of external scholarships to help students in their search.
Texas resident grants. Eligible residents may qualify for the need-based TEG Texas Grant, which provides an additional annual award.
Veterans benefits. Rice Business participates at the highest level of the Yellow Ribbon Program, and many veteran students receive substantial support.
Student loans. U.S. citizens and permanent residents can apply for federal student loans or explore private options.
Investing in your capital is one of the most important and impactful things you can do to ensure a financially rewarding future and you don’t have to navigate funding alone. Rice Business is committed to transparency and support — and to helping you access an education that will offer a return for the rest of your life.
Rice Business is committed to helping you accelerate your career at any stage and supporting your professional growth long after graduation. The earnings potential shows investing in an MBA is well worth it.
