Tuition and Financial Aid

Tuition Information

Tuition for the 2019–2020 academic year is $1,995.00 per credit, and 54 credits are required to complete the MBA program. MBA@Rice Residential and Global Field Experience (GFE) program costs are not covered by tuition. Students should also expect to pay $1,000 to $2,500 for textbooks for the program, based on the availability of used books and elective courses taken.

Additionally, a nonrefundable enrollment deposit of $2,500 (required only upon admission) will be applied to the first term’s tuition. Tuition costs are subject to increase each academic year.

Field Experience Costs

Each student must attend at least two field experiences as part of the curriculum—one MBA@Rice Residential and one GFE. MBA@Rice Residentials have a program fee of $800, including most meals and lodging, and GFEs have a program fee of $1,600, including some meals and lodging. These fees do not include tuition or transportation to and from the field experience location.

The program fees will be charged to the student in the quadmester in which they are registered for a Residential/GFE course. These fees will be set annually.

MBA@Rice Tuition, Billing and Financial Aid FAQs

Tuition and Billing

Are there additional fees assessed on top of tuition?

Yes, each student must attend at least one MBA@Rice Residential and one Global Field Experience as part of the curriculum. Domestic MBA@Rice Residentials have a program fee of $800, including some meals and lodging, and international GFEs have a $1,600 program fee, which includes some meals and lodging. These fees do not include tuition or transportation to and from the MBA@Rice Residential or GFE location.

The fees will be charged to the student in the quadmesters in which they are registered for an MBA@Rice Residential or GFE course. These fees will be set annually.

How much is the enrollment deposit, and when is it due?

A nonrefundable enrollment deposit of $2,500 (required only upon admission) will be applied to the first term’s tuition. Tuition costs are subject to increase each academic year.

Can I use financial aid to cover the deposit?

No, federal student aid cannot be used to pay the deposit.

Will I be able to view my award package before submitting the deposit?

Yes. Approximately seven to 10 business days after you submit your FAFSA, you may view your initial award offer in the Financial Aid Award section of your Esther account.

When will I receive a tuition bill and when is payment due?

Tuition is assessed once you enroll in classes for the coming quadmester. You can view charges through the Payment Suite section of your Esther account.

The Payment Arrangement Deadline is the 10th of the first month of each quadmester.

Example:

  • Summer: July 10
  • Fall: October 10
  • Winter: January 10
  • Spring: April 10

How do I view my bill?

Billing activity is shown on the Payment Suite section of your Esther account. In this section, you may review account activity, print account statements, set up a payment plan and pay your bill. We recommend you pay with your bank account information (routing and checking/savings account number). If you decide to pay with a credit or debit card, there is a third-party processing fee of 2.85 percent.

What are the accepted forms of payment?

Online options are available to students and their authorized users through the Rice Billing and Payment Suite, Student Access via Esther or your Authorized User Access account. The online payment methods include:

Electronic Check - Electronic version of a check that directly links to your bank account for payments. Using an e-check allows you to avoid the convenience fee assessed on credit card and debit card payments.

Credit Card- Visa, Master Card, Discover and American Express are accepted through our online suite. A 2.85% convenience fee is added to online payments using this method to assist with the exchange fees associated with credit card processing.

How does my employer go about paying the school?

Rice University students who are being sponsored by his or her employer or government can participate in our third-party billing service. Personal sponsors or sponsors that pay based on the student’s grades are not eligible.

To initiate the process, the student must provide a letter (also called financial guarantee or authorization) issued from their sponsor to the Cashier's Office containing the following information:

  • Student name and Student ID number.
  • The beginning and ending date of the sponsorship.
  • Types of fees covered (tuition, fees, health insurance, housing, dining, etc).
  • Restrictions in funding related to financial aid that may be received by a student.
  • The sponsor's billing address.
  • Letter must also state that Rice University will be paid directly. Payments should never be sent to the student directly.
  • Once the sponsor's letter is received, an anticipated payment credit memo for the amount authorized by the sponsor will be applied to the student's account.

Download the Third Party/Sponsored Payment instructions.

Are payment plan options available for online students?

Yes, Rice University Cashier’s Office offers a quadmester payment plan that allows you to divide the balance into three installments. A one-time per quadmester, nonrefundable fee of $75 is charged at enrollment and must be paid at the time the payment plan is created. You may enroll in the plan through your Esther Payment Suite.

What are the consequences if my tuition bill is not paid when classes begin?

Late Payment Fees are added the business day immediately following the due date of a billing statement. Billing amounts due that are not paid in full (or whose payment plan is not current) by the billing due date will be subject to a 1.5% late fee. Late fees are calculated based on the amount past due.

Students experiencing difficulty with paying their balance should contact the Cashier's Office promptly to discuss payment options.

If I’m eligible to receive a refund, what is the process?

Students are encouraged to complete electronic refund information to have financial aid or other student account refunds deposited directly into a checking or savings account—any bank, anywhere. This is the same secure process that is used to deposit payroll checks.

Please be sure to keep your bank account information up to date. Failure to have current electronic refund information will delay your Refund. You may reference the Refund page for additional information.

What is the Title IV Authorization?

Title IV is a term that refers to federal financial aid funds. Rice University applies Title IV funds to all charges on a student’s account for the academic year in which the funds are received.

Who can I contact at Rice for billing and payment questions?

Contact the Rice University Cashier's Office.

Rice Student Portal Set Up

How do I set up my Rice ID and Password?

Enrolled students will receive their Rice University NetID and Password approximately 7 days after submitting their enrollment deposit for the program.

How do I set up my Rice email address?

What is the Rice student portal?

The Rice student portal is Esther. Your Esther account includes access to academic records, billing, financial aid, direct deposit set up, and more. You will need your Rice Student ID and Pin to log into Esther.

Financial Aid at Rice

Does MBA@Rice offer internal scholarships to online students?

Rice does not offer scholarships or grants for this program. We do offer a third-party scholarship list through the Student Financial Services site, which is available to admitted students.

Are there Rice specific supplemental financial aid forms I need to complete?

There are no supplemental financial aid forms. Each loan type has specific loan application steps, and these are listed on the Student Financial Services site. You will be granted access to the site shortly after your admission to the program.

If you are a new student, and are planning to apply for federal student aid, you will need to complete the Free Application for Federal Student Aid (FAFSA), Entrance Counseling and the Loan Agreement Master Promissory Note (MPN) on the Federal Student Aid website.

What federal student aid is available to graduate students?

The types of federal student aid graduate students are eligible to apply for include the Federal Direct Unsubsidized Loan and the Federal Direct Graduate PLUS loan. Learn more about the types of federal student aid.

Why are graduate students not eligible for the Federal Pell Grant or the Federal Subsidized Loan?

The Department of Education awards Federal Pell Grants and Direct Subsidized Loans to eligible undergraduate students who demonstrate financial need and have not yet completed their bachelor’s degrees. The Department of Education does not evaluate need or income for loans at the graduate or professional level. Therefore, graduate students are not eligible for the Federal Pell Grant nor the Direct Subsidized Loan.

Are there academic standards I must meet to continue to receive federal student aid?

Students must maintain Satisfactory Academic Progress (SAP) to continue receiving financial aid.

What are the minimum number of credits required to receive federal student aid?

You must be enrolled a minimum of 3 credit hours each quadmester to be eligible for federal student aid.

How do I determine full-time, part-time, or half-time enrollment in this program?

With MBA@Rice, you have the flexibility to adjust your course load as work and other priorities demand. You can complete the program in as few as 24 months, or you can take fewer courses per term to earn your degree in 36 months. The first year will consist of all core courses, and the second year will feature a combination of core and elective courses. Please see Sample Course Schedules on the MBA@Rice program site.

What are private loans?

Private education loans, also known as alternative loans, are offered by private lenders to help students bridge the gap between the cost of education and the amount the government allows you to borrow in federal loans. Lenders offer private educational loans with different rates, fees, repayment terms, and approval requirements.

Are private loans offered at Rice?

No, however a list of private lenders used by Rice University students during the previous academic year may be found by visiting the Rice University ELMSelect tool. Students have the right and the ability to select the educational loan provider of his or her choice, and are not obligated to utilize any lender listed on this list.

When will I receive my financial aid award?

After you are admitted to the program and your financial aid is processed, a notice will be sent to your Rice University e-mail account directing you to the the Student Financial Services site site where you may review the student loan application steps. We begin processing award packages approximately six weeks before the start of the quadmester. We begin processing award packages approximately six weeks before the start of the quadmester.

How do I accept my financial aid award?

You may accept your loan offer through the Financial Aid Award section of your Esther account.

Am I required to accept the full amount that I am offered on my award letter?

No, you do not have to accept the full amount offered. Students are encouraged to borrow only what is needed. You can choose to accept all, part or none of your financial aid award in your Esther account.

Does my Direct Loan eligibility cover the entire cost of the program?

Assuming you are eligible for both the Direct Unsubsidized Loan and the Direct Graduate PLUS Loan, the aid will cover the current academic year you are enrolled.

How soon will loans disburse to my student account?

Assuming all loan application steps are complete, disbursement begins around the third day of class each quadmester.

Can I use loans to cover additional expenses such as living expenses, books, supplies, etc.?

The total cost of attendance (COA) for the academic year includes direct costs (tuition and fees) and estimated allowances for indirect costs (books, computer, room and board, etc).

There is an Intensive Learning Experience (ILE) required for this program. Am I able to use the loan funds to cover these expenses?

MBA@Rice Residentials consist of Intensive Learning Experiences (ILE), which involve simulations, seminars, group projects and guided leadership exercises that bring you face to face with peers, faculty and industry leaders.

Throughout your time as a student, you are required to complete at least two Field Experience courses—one MBA@Rice Residential and one international Global Field Experience (GFE). If you have a surplus credit from your loans, you may use those funds to cover expenses associated with your residentials/GFEs.

Who can I contact at Rice for financial aid questions?

You can contact Student Financial Services with any additional questions.

Free Application for Federal Student Aid (FAFSA)

What is the FAFSA?

The Free Application for Federal Student Aid (FAFSA) is the application the Department of Education uses to determine if you are eligible to receive federal student aid.

Where can I find the FAFSA?

The FAFSA is available online at Studentaid.ed.gov. The FAFSA is a free application; you will not be asked to pay.

What is the Rice FAFSA school code?

The Rice FAFSA school code is 003604.

Do I need my parents’ tax information to complete the FAFSA?

If you are applying for graduate school, you are considered an independent student, and do not need to include your parents’ information to complete the FAFSA.

What is the Expected Family Contribution (EFC)?

The Expected Family Contribution (EFC) is a measurement of your ability to contribute toward your educational costs. As a graduate/professional student your EFC is not a factor in your eligibility for federal student loans.

When should I complete the FAFSA?

The FAFSA is available every October 1st for the upcoming academic year. New students planning to use federal student aid should complete a FAFSA while applying for admission. Continuing students will need to submit a FAFSA each year they plan to receive federal student aid.

Please reference the chart below to determine which FAFSA to complete based on your desired start date:

Rice MBA
Start Term FAFSA Year
January 2020 Winter 2019-2020
April 2020 Spring 2020-2021
July 2020 Summer 2020-2021
October 2020 Fall 2020-2021

Do I need to complete the FAFSA each year?

Yes. Because eligibility for federal student aid does not carry over from one award year to the next, you will need to complete the FAFSA for each award year for which you are or plan to be a student.

What constitutes an academic year for federal student aid?

An academic year is the year for which financial aid is used to fund your education. Generally, this is the 12-month period that begins on July 1 of one year and ends on June 30 of the following year.

Federal Direct Unsubsidized Loan

What is the Federal Direct Unsubsidized Loan?

The Federal Direct Unsubsidized Loan is a federal loan offered to students to help with the cost of education. The Federal Unsubsidized Loan is not based on income or financial need.

What criteria is used to determine eligibility for federal student aid?

In order to apply for federal student aid, you must:

  • Be a U.S. citizen or eligible noncitizen
  • Have a valid Social Security Number (SSN)
  • Be registered with Selective Service, if you are male (must register between the ages of 18 and 25)
  • Be enrolled or accepted for enrollment in an eligible degree program
  • Be enrolled at least half-time in an eligible program
  • Maintain satisfactory academic progress (SAP)
  • Not currently be in default on previous federal student loan
  • Not have exceeded the maximum aggregate loan limit

Learn more about federal student aid eligibility criteria on the Federal Student Aid website.

What if I am currently in default or have defaulted on a prior federal student loan?

Visit the National Student Loan Data System (NSLDS) and contact your lender for details on how to clear the default. Students in default are not eligible for additional federal loans until the default is cleared.

What is the aggregate loan limit?

The aggregate loan limit is the total amount that you may borrow in federal student loans for undergraduate and graduate study. In addition to borrowing limitations based on the cost of attendance for the program, students are also limited in terms of lifetime borrowing. The maximum aggregate loan limit for federal loans is $138,500. This amount does not include PLUS loans, nor private loans.

If the total loan amount you receive over the course of your education reaches the aggregate loan limit, you are not eligible to receive additional loans. However, if you repay some of your loans to bring your outstanding loan debt below the aggregate loan limit, you could then borrow again, up to the amount of your remaining eligibility under the aggregate loan limit. You can learn more about graduate annual loan limits on the Federal Student Aid website.

How do I find out if I am near my aggregate loan limit?

You may visit the National Student Loan Data System website to view your federal student loan borrowing history. Please note that private education loans are not listed on this site.

What is the difference between a Direct Unsubsidized Loan and a Direct Subsidized Loan?

Direct Subsidized Loans are available to undergraduate students with financial need. The U.S. Department of Education pays the interest on subsidized loans while students are enrolled in their undergraduate program. The Direct Unsubsidized Loan is available to undergraduate and graduate students and does not require demonstration of financial need. The Unsubsidized Loan begins accruing interest as soon as funds are disbursed. Learn more about the difference between unsubsidized and subsidized loans.

How much am I eligible for with the Direct Unsubsidized Loan?

Most graduate level students are potentially eligible to receive up to $20,500 per academic year from the Direct Unsubsidized Loan. Learn more about graduate annual loan limits.

How do I apply for the Direct Unsubsidized Loan?

To apply for the Direct Unsubsidized Loan, you must complete and submit the Free Application for Federal Student Aid (FAFSA).

What is the current Direct Unsubsidized Loan interest rate?

The Direct Unsubsidized Loan interest rate is determined on an annual basis. Learn more about interest rates on the Federal Student Aid website.

Are there any additional loan fees for the Direct Unsubsidized Loan?

There is a loan origination fee that is a percentage of the total loan amount. The loan origination fee is deducted proportionately from each loan disbursement you receive. Information on Unsubsidized loan origination fees can be found on the Interest Rates and Fees page of the Federal Student Aid website.

Federal Direct Graduate PLUS Loan

What is the Direct Graduate PLUS Loan?

The Direct Graduate PLUS Loan is a federal loan that graduate or professional degree students can use to help pay education expenses in addition to the Direct Unsubsidized Loan. Learn about Direct PLUS Loans.

Do Direct PLUS Loans affect my aggregate loan limit?

Only Direct Subsidized/Direct Unsubsidized Loans (formerly referred to as Stafford loans) and federal loans made through the Federal Family Education Loan (FFEL) Program count toward your aggregate loan limit.

What are the eligibility criteria to apply for the Direct Graduate PLUS Loan?

A credit check will be conducted when applying for the Direct Graduate PLUS Loan. In addition to the federal student aid eligibility criteria, applicants cannot have an adverse credit history.

What are the credit criteria to receive the Direct Graduate PLUS Loan?

One of the eligibility requirements to receive a Graduate PLUS Loan is that you must not have an adverse credit history. A credit check is performed to determine whether a Graduate PLUS Loan applicant meets this requirement.

How much can I borrow from the Direct Graduate PLUS Loan?

If approved for the Grad PLUS Loan, you can borrow up to the cost of attendance as determined by Rice.

When can I apply for the Direct Graduate PLUS Loan?

You can apply for the Direct Graduate PLUS Loan within 180 days of the start of your program, or once you are enrolled.

How do I apply for the Direct Graduate PLUS Loan?

In order to apply for the Direct Graduate PLUS loan, you must first complete the Free Application for Federal Student Aid (FAFSA). Once you have completed the FAFSA, apply for the Direct Graduate PLUS Loan by completing the credit application on the Federal Student Aid website. Also complete the Graduate PLUS Loan Agreement Master Promissory Note (MPN).

What are the next steps if I’m approved for the Direct Graduate PLUS Loan?

If approved, complete the Graduate PLUS Loan Agreement Master Promissory Note (MPN) on the Federal Student Aid website.

What are my options if I'm denied the Direct Graduate PLUS Loan?

If you are denied the Graduate PLUS loan, you may reapply with an endorser or follow the instructions on the Department of Education's website to appeal the denial.

What is the Direct Graduate PLUS Loan current interest rate?

The Direct Graduate PLUS Loan interest rate is determined at the beginning of each academic year, and is available on the Federal Student Aid website’s Interest Rates and Fees page.

Are there any additional loan fees for the Direct Graduate PLUS Loan?

There is a loan origination fee that is a percentage of the total loan amount. The loan origination fee is deducted proportionately from each loan disbursement you receive. Information on Direct Graduate PLUS Loan origination fees can be found on the Interest Rates and Fees page of the Federal Student Aid website.

Loan Repayment

Do I have to repay my student loans while I’m in school?

You can defer payment on your federal student loans if you are enrolled at least half-time. You should be aware that although you can defer payments while you are in school, interest will still accrue on your loan(s). Your Unsubsidized Loan will go into repayment six months after you graduate, fall below half-time status, take a leave of absence or withdraw from the program. Most private loans also have deferred payment options while you are in school; however, you will need to check with your loan servicer.

When do I have to repay my loan?

After you graduate, leave school or drop below half-time enrollment, you will have a six-month grace period before you are required to begin repayment. During this period, you'll receive repayment information from your loan servicer, and you will be notified of your first payment due date. Payments are usually due monthly. You are not required to pay while in school, however if you choose to, there is no penalty to prepay. Learn more about repayment timelines.

What are the repayment plan options and how do I select one?

The Department of Education (DOE) offers multiple options for repayment. You may visit the DOE website for more information on loan repayment plans.

Is there a repayment calculator or estimator that I can use?

Yes, visit the DOE website for repayment calculators.

Can I consolidate my graduate loans and my undergraduate loans?

A Direct Consolidation Loan allows you to consolidate (combine) multiple federal education loans into one loan including both graduate and undergraduate loans. The result is a single monthly payment instead of multiple payments. Learn more about loan consolidation.

Are there any loan forgiveness options available?

In certain circumstances, all or a portion of a borrower’s federal student loans may be forgiven under the federal government’s loan forgiveness program. Please review the Department of Education website for more information on federal loan forgiveness programs.

Military Education Benefits

How do I apply for military education benefits?

To begin the process of applying for eligible military education benefits, visit the U.S. Department of Veterans Affairs website. Questions regarding eligibility should be directed to the VA at Phone Number: 888-442-4551.

What documents are required to process military education benefits?

Visit Vets.gov to complete the Education Benefits Application, which generates a request for a Certificate of Eligibility (COE). Once approved for benefits, the VA will mail the COE to you within six to eight weeks from submitting the application. In addition to the COE, you may be required to submit the following items:

  • Certificate of (Honorable) Release or Discharge from Active Duty (DD-214): If you have been discharged from active service you must include this form in your application.
  • Request for Change of Program or Place of Training (form 22-1995): If you have used GI Bill benefits at another school, please complete and submit a copy of VA Form 22-1995.
  • Military Transcript: This is a listing of all military training received while in the Service.
  • Transfer of Post-9/11 Entitlement: If you are considering a transfer of your entitlement to a dependent, please review the Transfer of Post-9/11 GI Bill Benefits section of the VA website.

What are the eligibility factors for the Post 9/11 GI bill?

You are potentially eligible if you have at least 90 days of aggregate active duty service after Sept.10, 2001, and are still on active duty, or if you are an honorably discharged Veteran or were discharged with a service-connected disability after 30 days, you may be eligible for this VA-administered program. Learn more about the Post-9/11 GI Bill.

What are current rates of benefits including the Monthly Housing Allowance (MHA)?

The tuition and fee payment rate, and MHA are determined at the beginning of each military academic year on August 1st. The current rate table is located on the Education and Training page of the U.S. Department of Veterans Affairs site.

Because Rice is a private university, students who receive Post-9/11 GI Bill benefits are subject to a maximum tuition and fee reimbursement per academic year (August 1 through July 31). The amount of the national cap changes each year on August 1, and are available to be used from August 1 to July 31 of the following year.

When VA benefits are calculated, the amount of this national cap must be expended before Yellow Ribbon Program benefits can be awarded.

What is the Yellow Ribbon Program (YRP)?

The Yellow Ribbon Program allows degree-granting colleges and universities to voluntarily enter into an agreement with the VA to fund tuition and fee expenses that exceed the national maximum per academic year.

Participating institutions choose their contribution amount, the VA matches that amount, and issue payment directly to the school. There are a limited number of Yellow Ribbon awards available. Additional information on the Yellow Ribbon Program available benefits and eligibility, visit the U.S. Department of Veterans Affairs website.

Does Rice University participate in the Yellow Ribbon Program (YRP)?

Yes, the MBA@Rice program participates in the Yellow Ribbon Program. If you are Yellow Ribbon eligible, the JGSB will cover 50 percent of the remaining cost, matched dollar for dollar by the VA. Learn more about the Yellow Ribbon program at the Rice Military and Veterans Benefits page.

Who can I contact at Rice for questions about using Military Education Benefits?

Visit the Rice Military and Veteran Benefits page, or contact Matt Wakeman, Director of Student Financial Services by email at matt.wakeman@rice.edu.

Tax Benefits for Education

How do I qualify for a tuition tax credit?

For details on tax benefits for education, see IRS Publication 970. Tax Benefits for Higher Education, which provides detailed information. Rice University is unable to provide tax advice. We urge you to contact your tax advisor or the IRS at Phone Number: 800-829-1040 or www.irs.gov if you have any questions regarding the HOPE or Lifetime Learning Tax Credits.

What is the 1098-T Form?

It is an informational form filed with the Internal Revenue Service to report the amounts billed to you for qualified tuition, related expenses, and other related information. The primary purpose of the IRS Form 1098‐T is to inform you that we have provided this required information to the IRS.

What information is included in the 1098-T Form?

Form 1098-T reports amounts paid for qualified tuition, scholarship and grants processed in 2018 to students enrolled in courses at Rice University for which they receive academic credit. The information reported on the 1098-T form helps students evaluate whether he or she is eligible for an educational tax credit.

How do I obtain my 1098-T Form?

  1. Login to Esther using your User ID and PIN.
  2. Select Student Services and Account Information link.
  3. Under Account Summary - Pay My Bill - Bill Payment Suite, select Payment Suite.
  4. A link to your most current 1098-T Tax Statement will be located in the "Statements" box of the landing page.

(Not finding your 1098-T Tax Statement? Visit our Tax Information page for information on why the tax form may not have been generated.)

Revised: October 2019

Request More Information

If you are ready to learn more about how MBA@Rice can help you build the skills to jumpstart your career, request more information today.