Rice University's undergraduate tuition for the 2012-13 school year will increase less than 5 percent, university officials announced today. Tuition will be $36,610, up 4.9 percent over the prior year.
Rice will continue its need-blind admission policies and generous financial aid programs aimed at keeping its education accessible to qualified students from all economic backgrounds.
"We work to hold down costs, but it was necessary to raise tuition slightly to provide the resources needed to maintain and enhance the exceptional education and research experience for which the university is well-known," Rice President David Leebron said. "Rice is also recognized as a best-value college, and we will increase the resources we put into our financial aid programs in the coming year."
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Rice was recently ranked by Princeton Review as the No. 5 best value among private universities in the country, and Kiplinger's Personal Finance magazine has ranked Rice the No. 4 best value for four years straight. The rankings include both educational quality and economic value.
Room and board for 2012-13 will increase $330 to $12,600. The total charge for undergraduate students, including tuition, fees, and room and board, will be $49,887, an increase of 4.3 percent over the current year. That might change slightly after the student vote later this month on fees for the next school year.
Tuition for doctoral students will also increase 4.9 percent to $36,610. Tuition for professional masters programs will range between $28,000 and $30,000. For students entering the MBA program at Rice's Jones Graduate School of Business, tuition will be $46,500 - an increase of 5.7 percent or $2,500.
Since 2009, freshmen entering Rice who qualify for need-based aid and whose annual family income is $80,000 or less have not been required to take out loans to pay for their education. Student loans for incoming freshmen who have demonstrated financial need have been limited to a total of $10,000 for their four undergraduate years at Rice.
Under its need-blind admission policy, Rice evaluates a student's academic qualification for admission with no consideration of their financial situation. If students are admitted, the university provides a package of financial support that includes grants, loans, scholarships and work-study programs to pay the cost of attending Rice.
"Although Rice is ranked among the best universities in the country, its tuition and fees have historically been thousands of dollars less than its peers'," said Vice President for Enrollment Chris Muñoz. "Those policies have allowed Rice to attract an increasing diverse student body from all walks of life that has enriched the campus experience."
Sixty-two percent of Rice's undergraduate students receive some form of financial aid, and 17 percent receive federal Pell grants.
In addition to consistently being ranked as a best-value school, Rice University ranks No. 1 for best quality of life and happiest students in the 2010 edition of the Princeton Review's "The Best 371 Colleges."
During the past four years, Rice has opened two new residential colleges, which brings its total to 11, a new dining facility, a new recreation center, a new bioscience research building, a new physics building and a central pavilion. An elaborate lighting system was recently added to several intramural playing fields for nighttime recreation, and a renovated student coffee house opened in the student center.
Rice is celebrating its centennial anniversary in 2012.
Source: Rice University