Tuition and Financial Aid

Tuition Information

Tuition for the 2018–2019 academic year is $1,935.19 per credit, and 54 credits are required to complete the MBA program. Intensive Learning Experience (ILE) 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 domestic Intensive Learning Experience (ILE) and one Global Field Experience (GFE). ILEs cost $800, including all meals and lodging, and GFEs cost $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 semesters in which they are registered for an ILE/GFE course. These fees will be set annually.

Frequently Asked Questions

Tuition and Billing 

Are there additional fees assessed on top of tuition? (Lab fees, program fees, registration fees, student fees, placement fees, activity fees, etc.)

Yes, each student must attend at least two Intensive Learning Experiences (ILEs) as part of the curriculum—one domestic and one international. Domestic ILEs cost $800, including all meals and lodging, and international ILEs cost $1,600, including some meals and lodging. These fees do not include tuition or transportation to and from the ILE location. 

The fees will be charged to the student in the semesters in which they are registered for an ILE course. These fees will be set annually. 

How much is the enrollment deposit?

A $2,500 enrollment deposit is required upon admission to secure your seat in the class. It will be applied to your total tuition cost in your first term. 

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 pay my bill? (Electronic debit, check, money order, etc.?)

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%.

How does my employer go about paying the school?

Rice University Cashier’s Office will work directly with your employer to invoice each semester. Please review the Third Party Sponsorships web page additional information and instructions.

Does the school offer payment plan options?

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. 

Will my registration be canceled if the bill is not paid when classes begin?

No; however, you may be billed a late payment fee of 1.5% of the outstanding balance. We encourage you to contact Student Financial Services for funding assistance and/or Rice University Cashier’s Office for assistance with your bill and payment deadline. 

What is the process if I’m eligible for a refund?

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. 

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

Contact the Rice University Cashier’s Office.

Financial Aid at Rice

Are institutional scholarships available for this program?

No. We do offer a third-party scholarship list through the Student Financial Services site, which is available to admitted students.

Are there any school-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.

What is 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.

Once admitted, how long will it take to receive my financial aid award package?

The first step for all federal student loan applicants is to complete the FAFSA. Once received, we can begin processing financial aid. We begin processing award packages approximately six weeks before the start of the quadmester. 

How will I receive my financial aid award notice?

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 Student Financial Services site where you may review the student loan application steps.

How do I accept my student loans?

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 may choose to accept all, part or even decline your loan offer. 

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 in which 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 (housing, books, supplies, etc.)?

Yes. The estimated Cost of Attendance (COA) budget includes direct costs (tuition and fees) and estimated allowances for indirect costs (books, computer, room and board, etc.).

Can I use loans to cover the Intensive Learning Experience (ILE)?

Yes. Your COA has sufficient allowances above your direct costs (tuition and fees). If you have eligibility for additional loan funds, you can use those resources to cover ILE-related expenses. 

Who can I contact at Rice for financial aid questions?

You can contact Student Financial Services with any additional questions.

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 FAFSA.ed.gov. The FAFSA is a free application. You will not be asked to pay. The application is available as of October 1 each year.

What is the Rice University FAFSA school code?

The Rice FAFSA school code is 003604. 

Do I need my parents’ tax information to complete the FAFSA if I live on my own?

If you are applying for graduate school, you do not need your parents’ information to complete the FAFSA. 

When should I complete the FAFSA?

FAFSA Dates
Start Term FAFSA Year
January 2019 Winter 2018-2019
April 2019 Spring 2019-2020
July 2019  Summer 2019-2020
October 2019  Fall 2019-2020

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.

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.

Will I need to fill out the FAFSA each year?

Yes, you will need to complete the FAFSA for each academic year in which you plan to apply for federal student aid. The FAFSA is available as of October 1, and we recommend you recomplete the application around this time each year.

Why am I not eligible for the Pell Grant or Federal Subsidized Loan?

The Department of Education awards Federal Pell Grants and Subsidized Loans to eligible undergraduate students who have not yet completed their bachelor’s degrees and who demonstrate financial need. The Department of Education does not evaluate need or income for loans at the Graduate/Professional level. Therefore, graduate students are not eligible for the Federal Pell Grant or the Direct Subsidized Loan.

Direct Unsubsidized Loan 

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;
  • Be registered with Selective Service, if you’re male (ages 18–25);
  • 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;
  • Not currently be in default on previous student loans borrowed through FSA; and
  • Not have exceeded the maximum aggregate loan limit.

Please note: The Direct Unsubsidized Loan is not based on need or income. 

Learn more about federal student aid eligibility criteria at StudentAid.ed.gov. 

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 defined as the total amount that you may borrow for undergraduate and graduate study. You can learn more about aggregate loan amounts 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.

What is the difference between a Direct Subsidized Loan and a Direct Unsubsidized 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 an undergraduate program. Direct Unsubsidized Loans are available to undergraduate and graduate students; there is no requirement to demonstrate 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 in the Direct Unsubsidized Loan?

Eligible graduate students may receive up to $20,500 per academic year in the Direct Unsubsidized Loan. Learn more about graduate annual loan limits. 

How do I apply for the Direct Unsubsidized Loan?

To apply for a Direct Loan, you must first complete and submit the Free Application for Federal Student Aid (FAFSA). The information from your FAFSA will be used to determine how much student aid you are eligible to receive. 

What is the current Direct Unsubsidized Loan interest rate?

The Direct Unsubsidized Loan interest rate is determined at the beginning of each academic year and is available on the StudentAid.gov 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.

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. 

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

In order to apply for a Direct PLUS Loan, you must:

  • Be a U.S. citizen or eligible noncitizen;
  • Have a valid Social Security number;
  • Be registered with Selective Service, if you’re male (ages 18–25);
  • 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;
  • Not currently be in default on previous student loans borrowed through FSA;
  • Not have exceeded the maximum aggregate loan limit; and
  • Not have an adverse credit history. 

Please note: The Graduate PLUS Loan is based on credit history.

Does the Direct Graduate PLUS Loan affect my aggregate loan limit?

No. 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 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. A list of what constitutes “adverse credit history” can be found on the Federal Student Aid website.

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

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

When can I apply for the Direct Graduate PLUS Loan?

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

How do I apply for the Direct Graduate PLUS Loan?

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, you can apply for the Direct Graduate PLUS Loan by completing the credit application at StudentLoans.gov. Also complete the Graduate PLUS Loan Agreement Master Promissory Note (MPN). 

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 StudentAid.gov website. 

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 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?

Loan repayment is deferred while you are enrolled in at least 3 credit hours per quadmester. Your federal student loan(s) will enter repayment six months after you graduate, fall below half-time status, take a leave of absence or withdraw from the program.

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 (ED) offers multiple options for repayment. You may visit the ED website for more information on loan repayment plans.

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

Yes, visit the ED 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?

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

What documents are required to process military education benefits?

Visit Vets.gov to complete the Education Benefits Application, which generates a request for the 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 is the current tuition and fee payment rate and Monthly Housing Allowance (MHA)?

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

What is the Yellow Ribbon Program (YRP)?

The Yellow Ribbon program allows degree-granting private colleges and universities in the United States to voluntarily enter into an agreement with the VA to fund tuition expenses that exceed the annual maximum cap for the resident tuition and fees at public institutions. Veterans who are utilizing Post-9/11 GI benefits and who are entitled to 100 percent of their benefit may be eligible. To participate in the Yellow Ribbon program, you must be using Post-9/11 GI benefits at 100 percent eligibility, not on active duty and not a military spouse. There are a limited number of Yellow Ribbon awards available. Learn more about the Yellow Ribbon Program. 

If you are Yellow Ribbon eligible, MBA@Rice will cover 50 percent of the remaining cost, matched dollar for dollar by the VA.

Does MBA@Rice participate in the 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.

Hazlewood Act

The purpose of the Hazlewood Act is to provide education benefits to Texas veterans or to qualified dependent children. This benefit is only available to state institutions. Rice University, as a private education institution, is unable to participate. 

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 or by phone at 713-348-3886.

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.