Tuition and Financial Aid

Military Scholars Program

The Military Scholars Program will provide scholarships to cover tuition, fees and expected living expenses for selected active or veteran military applicants who wish to pursue their educational dream of obtaining a full-time Rice MBA degree. For more details, visit the Military Scholars Program page on our site. 

Crownover Scholars Program

Named in honor of former Rice University Board of Trustees Chair James Crownover '65, the scholarship supports students financially and provides an avenue for Jim himself to work directly with Crownover Scholars and finalists by sharing his experience on leadership success and community contribution, plus introducing students to relevant business leaders in their chosen fields. For questions about the program, please contact Jessica Krom, Associate Director of Admissions, at Jessica.L.Krom@rice.edu or 713-348-2898.

The McNair Scholars Program

This program was established to recognize individuals with demonstrated academic excellence and inspired leadership, as exemplified by Janice and Robert McNair. One recipient will be selected each academic year and receive full-tuition benefits during the two-year program as a Rice Business student. For questions about the program, please contact Jessica Krom, Associate Director of Admissions, at Jessica.L.Krom@rice.edu or 713-348-2898.

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 2021-2022 Free Application for Federal Student Aid (FAFSA) 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 early June. 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: 4.30% fixed
• Origination Fee: 1.057%
• 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)
You may borrow up to the Cost of Attendance less other funding.

• Interest Rate: 5.30% fixed
• Origination Fee: 4.228% 
• 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 and State Student Loans.

The application process is student-initiated and submitted directly to 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. Rice University has a historical lender list* that may assist your research. 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.

International Payments

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 University Cashier's Office 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.

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.

Prodigy Finance offers loans without a co-signer to students studying at a select number of US MBA programs. Rice University's MBA is an approved program.

US Loan Organizations

US banks require international students to have a US Citizen or Permanent Resident (green card holder) co-signer when applying. The Student Financial Services Private Loans page contains an historical lender list that may assist your search. If interested, please navigate to that page and select the ELMSelect link at the bottom. Please note that you are not limited to this list and may apply with any lending institution of your choice.

Due to the loan processing timeline, we recommend you begin the application process no earlier than May 15 for the coming academic year. Processing begins around June 1.

Financing Your Degree

As an International Student, you will be required to demonstrate sufficient funding to cover the cost of attendance in order to obtain your student visa. To assist with this process, 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.

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 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 Students 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 2021-2022 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 & fees) and estimated allowances 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, loans, 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).

The majority of Veterans Benefits-eligible students utilize the Post-9/11 GI Bill. Please visit this page for more information.