Tuition and Financial Aid

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

• Personal resources
• Jones School Admissions Scholarships
• Federal student loans and/or private student loans
• Semester Payment Plan

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

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

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

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.

Federal 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 (FAFSA). Rice University’s FAFSA school code is 003604.

We will begin receiving FAFSA applications in late May for students who have been accepted and have paid their enrollment deposit. Loan application instructions will be emailed to your Rice email account beginning on June 1st. 

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: 6.54% 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)
There is no particular academic year maximum, however, the amount borrowed may not exceed the cost of attendance.

• 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.

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 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 credit worthiness as determined by the lender.

The ELMSelect Tool contains a historical lender list that may assist your research. Select "MAcc" from the drop-down menu and then click on "View Loans".

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 have affiliation with any student loan lending institution. It is your responsibility to choose the lender that is right for you.

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. 

Billing and Payment Arrangement Deadlines

• Fall Semester: Billing begins the first week of July with a payment deadline of September 10th
• Spring Semester: Billing begins the first week of December with a payment deadline of February 10th

The MAcc Cost and Funding Calculator is available to assist you in planning/budgeting for your upcoming year. Once you've downloaded the document in Excel, you'll find tabs with the following information:

1. Important Dates and Helpful Links
2. Cost of Attendance Budget (The COA reflects the maximum amount of funding a student may receive in a given year)
3. Loan Comparison Sheet
4. Funding Calculator

The Cost & Funding Calculator will help you determine which type of loans to apply for as well as how much to request.

The Student Loan Instructions section provides the required steps to apply for each loan type

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 when determining your eligibility. This means that no matter how much (or how little) your income is, there are two loans you may be eligible 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. 

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.

Are there any outside scholarships I can apply for?
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.

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 applying for Private Student Loans, we recommend you apply no earlier than May 15.

Additional information and the required steps for applying for each type of loan is provided on the Cost & Funding Calculator page. 

What is the estimated Cost of Attendance (COA)?
The Estimated Cost of Attendance 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?
The Cost & Funding Calculator is available to assist you in determining how much to apply for.

What is the deadline for making 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