“Because talent deserves the opportunity, we’re dramatically expanding scholarships for middle-class families.” This was said by David Leebron, President of Rice University in his unveiling of their new tuition plan for students. William Marsh Rice University, widely known just as Rice University, is a private research university at Houston, Texas. Rice Investments is the name of the program that is set to cover full tuition for families who makes between $65,000 to $130,000 a year.
Any family who makes below $65,000 will receive additional help such as the coverage of fees and living expenses, according to the Houston Chronicle.
This practice is also similar to what New York University (NYU) has done for its medical students. NYU raised over $450 million dollars in 2018 to ensure that every medical student would receive free tuition, disregarding the economic status of its family. Last year, the University of Michigan also announced a similar plan, offering free tuition to in-state students with a family income up to $65,000 a year.
At Rice University, the average tuition for an undergraduate reaches over $46,600 a year, costing a hefty $186,400 cost for just four years of college.
For Rice University, the money for the financial plan will be stemming from a special distribution from the university’s endowment, reflecting on alumni’s dreams of keeping college affordable for current and incoming students. In doing so, this would be synonymous with the goals of its founders. When the university was first established in 1912, they did not charge students tuition for over 50 years.
Reconnecting the university back to its roots means a proud moment for the university to uphold and a blessing for all the future students.
Rice is comprised of eight schools:
- School of Social Sciences.
- School of Humanities.
- Wiess School of Natural Sciences.
- Jesse H. Jones Graduate School of Business.
- George R. Brown School of Engineering.
- School of Architecture.
- Shepherd School of Music.
- James A. Baker III Institute for Public Policy.
According to the ranking in the 2019 edition of Best Colleges Rankings, Rice University is ranked No. 16, tieing with Cornell University.