Rice University, a private 4-year university in Houston, TX., has decided to award scholarships that will cover the cost of tuition to students from low-income and middle-income families starting next fall.
The school made the announcement yesterday. A new initiative, appropriately- titled, The Rice Investment will allow U.S. students seeking an undergraduate degree who come from families with incomes under $130,000 to forego tuition. Those with family incomes below $65,000 will also receive financial assistance from grants to cover school fees and room and board.
Even students who come from families with incomes between $130,000 and $200,000 will be eligible for some assistance as well. The university plans to cover at least half of the students’ tuitions who fall within that income bracket.
Tuition for an undergraduate student at Rice this year is $46,600. Rice had an undergraduate student body of nearly 4,000 for the 2017-2018 academic year and hopes that this new plan will increase enrollment.
In a statement, a Rice University spokesperson said: “The expansion of scholarships is intended to address challenges faced by families with moderate incomes and reduce student debt.”
Tuition at universities around the country have increased causing many students to automatically be disqualified from pursuing higher education- especially black and latinos students. According to U.S. News and World Report, tuition and fees and private colleges rose 3 percent for the 2018-2019 academic year.
Rice University President David Leebron is proud of the new initiative and stated: “This is a bold step in making education at Rice accessible and affordable for students from all backgrounds. Talent deserves opportunity!”