Financial Aid Information
Financial Aid Information
You are setting out on what is likely to be one of your greatest investments of time, energy, and financial resources. It is important to come up with a detailed budget of your expenses for the upcoming year and begin reviewing the potential funding resources that are available (scholarships, savings, assets, student loans, etc.).
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What When 1. Login to ESTHER & Rice Email
Log-in information is provided 2-3 weeks after the deposit has been paid. 2. Complete 2024-25 FAFSA (if applicable)
Before July 31 (preferably) 3. Review Cost and Funding Calculator & Funding Resources
You should know how you plan to fund your first year in school by July. Don't wait until the last minute.
4. Contact Student Financial Services
Any time. We're here to help! 5. Loan Awarding Begins
We begin processing on July 31 6. Payment Deadlines
Fall Semester: September 10, 2024
Spring Semester: February 10, 20257. Disbursement of Funds
Fall Semester: August 21, 2024
Spring Semester: January 8, 2025 -
Approximately 2-3 weeks after you pay your enrollment deposit, you will receive access information for your ESTHER account. From there, you can view your semester bill (charges will be posted by July), make payments, set up semester payment plans, and view financial aid information.
The Jones School of Business' Student Financial Services Office will communicate with you using your Rice University email address, so you must complete the steps provided to access your system accounts and check them periodically. We encourage you to set up your account so that it forwards your Rice emails to a personal account you check often.
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The Free Application for Federal Student Aid (FAFSA) is the first step when applying for Federal student loans.
Note that this funding resource is limited to domestic students only (US Citizens and Permanent Residents – green card holders).
When completing the 2024-2025 FAFSA you will be asked to use your 2022 tax information. The Data Retrieval Tool (DRT) allows you to download your tax information directly into your FAFSA application.
It is recommended that your FASFA be submitted before July 31st to allow us sufficient time to process your awards and for you to complete the necessary loan application steps to meet the Fall Payment Arrangement Deadline, September 10th.
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A Cost and Funding Calculator is available to assist you in planning for your upcoming year and will provide you with a cost breakdown of each semester. Once you've downloaded the document in Excel, you'll find tabs with the following information:
- Important Dates and Helpful Links
- Cost of Attendance Budgets (The COA reflects the maximum amount of funding a student may receive in a given year)
- Loan Comparison Sheet
- MAcc Funding Calculator
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There are 2 types of funding resources potentially available: Federal Student Loans and Private Student Loans.
Federal Student Loan recipients are eligible for $20,500 per academic year (fall and spring) in the Federal Unsubsidized Loan upon completing the FAFSA. A Federal Graduate PLUS Loan and/or private student loans are potentially also available to assist students in covering the cost of the program (tuition, fees, living expenses, etc.).
Our Federal Student Loan page provides additional information and outlines the steps needed to apply.
Private Student Loans are an additional funding option to be used in combination with, or as an alternative to Federal Student Loans. Approval and loan terms are based on the applicant's credit worthiness as determined by the lender.
Our Private Student Loan page provides additional information and outlines the steps needed to apply.
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We begin processing FAFSA applications around June 1, for the 2024-2025 academic year. As of that date, we strive to process Financial Aid Award Packages within two weeks of submitting your enrollment deposit and completing the FAFSA application.
When determining the amount of funding to apply for, it is important to remember that all loan funding is automatically processed for the academic year and our system will disburse the funds half in Fall and half in Spring. Please also note the following:
- Each loan type (Federal and Private) has its own unique processing steps and procedures. You will find additional guidance in the Student Loan Instruction section on the Funding Resource page.
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The University Cashier’s Office begins billing in early July for Fall and early December for Spring. The Payment Arrangement Deadlines are:
- Fall: September 10, 2024
- Spring: February 10, 2025
It is by these dates that the Cashier's Office has to know how you'll be covering your balance each semester (this does not mean payments are due on these dates). For example, if you are financing through student loans, then all steps must be completed BEFORE the above dates for your funding to show as expected aid on your ESTHER account. Students are encouraged to have all steps completed by August 1 to allow our office sufficient processing time to meet the above deadline.
The University Cashier’s Office offers a Semester Payment Plan that allows you to pay a semester balance in 4 equal installments. This will be available to set up through your ESTHER account in July for the Fall semester and in December for the Spring semester.
The Payment Due Dates are listed below:
- Fall: September 10, 2024 (If you enroll in the optional Semester Payment Plan, your payments are split over 4 payments: September 10, October 10, November 10, and December 10)
- Spring: February 10, 2025 (If you enroll in the optional Semester Payment Plan, your payments are split over 4 payments; February 10, March 10, April 10, and May 10)
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Loan funds and scholarships will be disbursed to the University Bursar’s Office around August 21st for Fall and around January 8th for Spring.
If you choose to borrow an amount that is greater than your tuition bill (for living expenses, etc.), the credit will be refunded to you once we've received the funds from the lender.
You are encouraged to add your bank account information to ESTHER so that refunds can be processed via direct deposit. Otherwise, a check will be mailed to you and may take up to 2 weeks to receive.
- Log-in to ESTHER
- Select the Student Services and Account Information link
- Under Account Summary - Pay My Bill - Bill Payment Suite, select Payment Suite
- Select Electronic Refunds located on the My Profile setup menu on the right side of the screen
Special Resources for International Students
The primary sources of funding for International Applicants are personal resources, a lending institution in the home country, or a private loan through a domestic bank with a US Citizen or US Permanent Resident cosigner. US law mandates that you demonstrate adequate funding to obtain your visa for enrollment. Further information is available through the Office of International Students and Scholars.
In the interest of assisting you with the funding process, our office has compiled a list of educational and funding-related websites for your convenience. Please note that you are not limited to the lending institutions or organizations listed here and you must research, apply individually, and work directly with the funding resource.
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The following loan opportunities may not require a US citizen or permanent resident co-signer.
- Banco de México-FIDERH is a federal trust managed by the Central Banco de México that offers affordable low-interest loans to Mexican students for graduate studies either in Mexico or abroad. The Jones Graduate School of Business (JGSB) participates in a collaboration agreement with FIDERH. If (1) a Full Time MBA applicant is awarded an admissions scholarship and (2) is approved for funding by FIDERH, the JGSB guarantees that the total admissions scholarship award will be a minimum of 25% of tuition*.
*Funding awarded as an admissions merit scholarship will be considered toward meeting the institution’s portion of the joint agreement.
- CONACYT is a member of Mexico’s department of education and offers scholarship and stipend opportunities to Mexican nationals seeking to study abroad.
- FUNED is a non-profit private organization which offers Mexican nationals low-interest loan funding. The Jones Graduate School of Business (JGSB) participates in a collaboration agreement with FUNED. If (1) a Full Time MBA applicant is awarded an admissions scholarship and (2) is approved for funding by FUNED, the JGSB guarantees that the total admissions scholarship award will be a minimum of 25% of tuition*.
*Funding awarded as an admissions merit scholarship will be considered toward meeting the institution’s portion of the joint agreement.
- Global Student Loan Corporation is a third-party loan facilitator that assists in providing educational loans without a US citizen or permanent resident co-signer to citizens of India. The interest rate is approximately 13.0% based on HSBC’s Retail Lending Rate which is occasionally reset. There will be a one-time administration fee of 2.75% paid by the borrower. There will also be a site-use fee of approximately $75. Borrowers may have up to 15 years to repay.
- The Leo S. Rowe Pan American Fund grants interest-free educational loans to outstanding students, from Latin American and Caribbean OAS member countries, to help them finance their higher education studies in the United States. These loans are granted with the understanding that loan recipients commit to repaying the loan in full within a term of, at most, fifty-three months after completion of the studies or research program for which the loan is granted and to returning to their home countries within a year after completion of their studies in the US.
- Banco de México-FIDERH is a federal trust managed by the Central Banco de México that offers affordable low-interest loans to Mexican students for graduate studies either in Mexico or abroad. The Jones Graduate School of Business (JGSB) participates in a collaboration agreement with FIDERH. If (1) a Full Time MBA applicant is awarded an admissions scholarship and (2) is approved for funding by FIDERH, the JGSB guarantees that the total admissions scholarship award will be a minimum of 25% of tuition*.
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U.S. banks require international students to have a U.S. Citizen or Permanent Resident (green card holder) co-signer when applying. The ELM Select Tool contains an historical lender list that may assist your search. Select "International" from the drop-down menu and then "View Loans". Please note that you are not limited to this list and may apply with any lending institution of your choice.
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- Abroad Planet
- American-Mideast Educational & Training Services Inc.
- Asian & Pacific Islander American Scholarship Fund
- Ayn Rand Essay Scholarship
- College Board
- College Net
- College Scholarships
- COMEXUS
- EduPass
- Edmund S. Muskie Foundation
- Fastweb.com
- FinAid.org
- Find Tuition
- Fulbright
- Fundsnet Services
- Government Finance Officers Association
- International Education Financial Aid
- International Scholarships
- International Student Organization
- Latin America Network Information Center (LANIC)
- Latin American Scholarship Program of American Universities (LASPAU)
- Mensa Education & Research Foundation
- Mobility International USA (MIUSA)
- Organization of American States: please select the “Financial Resource Guide” for information on country-specific grant/scholarship programs
- Organization of American States Scholarship
- Petersons.com
- Rotary International
- U.S. Department of State: Bureau of Educational & Cultural Affairs
- Zinch.com
Disclaimer: The above list of funding organizations is provided as a courtesy to assist you in your funding research and we do not promote the use of any particular entity. Neither the JGSB nor Rice University receive any form of compensation, monetary or otherwise, from the organizations listed and the University does not assume any liability. You must research, contact the organization directly, and confirm your eligibility to apply for funding through these organizations and institutions.