Financing Your Degree

Rice offers merit-based scholarships for both our Full-Time MBA and Professional MBA programs.  When you submit your application for admission to Rice Business, your credentials will automatically be reviewed; there are no additional steps for applying.  Both international and domestic applicants who demonstrate a superior record of academic merit and professional accomplishments will be considered.

Scholarship awards will be announced in your admission packet. If awarded, your acceptance letter will indicate the scholarship amount offered per academic year.

Unfortunately, third-party scholarships for graduate students aren’t very common. Rice Business has put together a small list of outside scholarship resources that you may want to look into though. The list is updated as we become aware of new scholarship opportunities. 

Residents of Texas may qualify for a Tuition Equalization Grant (TEG). These funds are limited in nature and are awarded to students with the highest financial need (as determined by completion of the FAFSA) on a first-come, first-served basis. Students must provide proof that they have been residents of Texas for at least 1 year prior to the semester they begin attendance at JGSB. 

Eligibility is contingent upon submission of the Texas Core Residency Questionnaire and proof of residency. Upon receipt of your FAFSA and all required documents, submissions will be assessed for eligibility and awarded pending the availability of funds. 

NOTE: Availability of funding is at the discretion of the State and is not guaranteed even if all eligibility requirements have been met. 

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 2023-2024 Free Application for Federal Student Aid. Rice University’s FAFSA school code is 003604.

Your FAFSA information will be forwarded to us automatically (once you've been admitted and paid your enrollment deposit). Loan application instructions and next steps will be sent 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 for Full-Time, PMBA-Evening, and Hybrid MBA

The maximum academic year (Fall + Spring semesters) amount is $10,250 for EMBA and PMBA-Weekend

• Interest Rate: 6.54% fixed
• Origination Fee: 1.057% - this will be deducted from the gross loan amount
• 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 (Grad PLUS)
You may borrow up to the Cost of Attendance less other funding.

• Interest Rate: 7.54% fixed
• Origination Fee: 4.228% - this will be deducted from the gross loan amount
• 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

Please visit Federal Student Aid for more information.

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.

Rice Business provides a historical lender list* that may assist your research. 

*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.

The Cashier’s Office offers a Semester Payment Plan that allows you to pay your semester balance in 4 interest-free installments. Students are able to enroll in the Semester Payment Plan through ESTHER beginning in July for the Fall semester and in December for the Spring semester. There is a $75 fee each semester to enroll in the Payment Plan. 

Third-Party Billing is a billing method in which an entity such as company, corporation, or government agency can establish direct invoicing and payment on behalf of the student. You can find additional information about third-party sponsorship on the Cashier's website. 

As an International Student, you are required to demonstrate sufficient funding to cover the cost of attendance in order to obtain your student visa. We encourage you to review the information on the Office of International Students and Scholars site and reference the International Financial Declaration Form for MBA Students.

For those planning to wire funding from abroad, Rice University has partnered with Flywire to facilitate this process at as low a cost to you as possible. Please reference the Cashier's Office website for additional information.

International Grant & Loan Organizations

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.
• 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.
• Global Student Loan Corporation is a third-party loan facilitator that assists in providing educational loans to citizens of India.
• GradRight is a third-party loan facilitator that allows students from India to compare lenders and submit their application to multiple banks at once. 
• The Leo S. Rowe Pan American Fund grants interest-free educational loans to students, from Latin American and Caribbean OAS member countries, to help them finance their higher education studies in the United States.
• MPower Financial provides loans to International and DACA students without requiring a co-signer. The maximum amount they will approve is $50,000 per year. 
• Prodigy Finance offers loans without a co-signer to students studying at a select number of US MBA programs. Rice University's Full Time MBA is an approved program (this option is not available for students in the PMBA or EMBA programs). 

US Loan Organizations

US banks typically require international students to have a US Citizen or Permanent Resident (green card holder) co-signer when applying. A limited number of lenders provide loans to international students without requiring a co-signer. 

Rice Business provides a historical lender list that may assist your search. Select "International" from the drop-down and click on "View Loans". 

At Rice Business, we value the contributions of our veterans and work diligently to support the educational goals that make use of your GI Bill® education benefits. We are here to help you, your spouse, or dependents access the educational benefits earned by serving in the armed forces of the United States.

Jones Graduate School of Business is proud to participate in the Yellow Ribbon program at the highest level: once your Chapter 33 annual cap has been exhausted, we will cover 50% of the remaining charges with a Yellow Ribbon Scholarship and the VA will match our 50% contribution. With a combination of your GI Bill benefits and Yellow Ribbon contributions, 100% of your MBA program costs can be covered! 

Please visit our Military and Veteran Benefits page for more information.

The Estimated Cost of Attendance budget consists of direct costs (tuition & fees) and estimated allowances for indirect costs (room & board, transportation, etc.) for one academic year.

The COA does not represent how much you will be charged by Rice, but is meant to be used as a budgeting tool. It also represents the MAXIMUM amount of total aid you can receive each year (including scholarships, loans, etc.). 

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 prior-prior tax year's information. The FAFSA is only required if you are interested in receiving federal student loans and must be completed each academic year. 

Why is the FAFSA needed?
The FAFSA is the first step when applying for federal student loans. It is not required for private student loans. Federal loans for graduate students are not need-based, which means your income is not a factor for determining your eligibility. No matter how much (or how little) your income is, there are two loans graduate students may apply for: the Unsubsidized Loan and/or the Graduate PLUS Loan. 

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 review the information in the Resources for International Students section above. 

Are Federal Grants available?
No. Students attending graduate school are not eligible for federal need-based funding, which includes grants (such as the Pell Grant) or Direct Subsidized Loans. 

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.

If applying for Federal and/or State Student Loans, the first step is to complete your 2023-2024 FAFSA. We will begin processing FAFSAs and certifying loan applications in June 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 you will be applying for Private Student Loans, we recommend you begin no earlier than May 15.

What is the estimated Cost of Attendance (COA) budget?
The Estimated Cost of Attendance budget consists of direct costs (tuition & fees) and estimated allowances for indirect costs (room & board, transportation, etc.) for one academic year.

The COA does not mean that is how much you will be charged at Rice, but is meant to be used as a budgeting tool. It also represents the MAXIMUM amount of total aid you can receive each year (including scholarship, loans, etc.). 

How much should I borrow?
Financial Aid is for one academic year at a time (not for the full program). You should review the Cost and Funding Calculator for assistance in determining how much to apply for. 

What is the deadline for making billing or payment arrangements?
Fall: Billing begins the first week of July with a payment deadline of September 10th
Spring: Billing begins the first week of December with a payment deadline of February 10th

Where can I review charges, check my account balance, or make payments?
Once you have access to ESTHER, you can review your charges, see anticipated credits, make payments, etc. Here is additional information on where to go in ESTHER to access the Payment Suite