Metadata
Title
Financing Your Degree
Category
general
UUID
cfc6ac6e18b646aeb79be61b79d8c0d0
Source URL
https://business.rice.edu/mba-admissions/financing-your-degree
Parent URL
https://business.rice.edu/
Crawl Time
2026-03-18T05:14:02+00:00
Rendered Raw Markdown 
# Financing Your Degree

**Source**: https://business.rice.edu/mba-admissions/financing-your-degree
**Parent**: https://business.rice.edu/

Navigate to...

## Finance Your Degree and Invest in Your Future

Rice Business is the second most affordable MBA in the top 25, according to Poets & Quants. Earning an MBA from Rice Business will pay dividends throughout your career. Professor James Weston explains how.

## Interested in Rice Business?

[Request More Information](#)

[Close](#)

### Funding Options

An MBA from Rice Business is a significant investment in yourself and in your future. Whether you're looking for information on scholarships, loans, employer support, or veterans benefits, we're here to connect you with every opportunity for assistance.

If you still have questions after reviewing the information below, please reach out. We'll do all we can to help build a financial bridge between your MBA tuition costs and your career goals.

- Rice Business Scholarships

  The Office of Admission at Rice Business offers merit-based scholarships for Full-Time MBA students. When you apply for admission, the Admission Office automatically considers your application package and credentials for a scholarship; there are no additional steps. All applicants are considered (both international and domestic) who demonstrate a superior record of academic merit and professional accomplishment.

  Scholarship awards will be announced in your admission packet. If awarded, your acceptance letter will indicate the scholarship amount offered per academic year.
- External Scholarships

  We've compiled a small list of [external scholarship resources](https://rice.box.com/s/1pv46ivrpx3jt9tgqqvm0kr41h9yc6w6) for you to explore. We update the list as we become aware of new outside scholarship opportunities.

  *Rice University does not assume any legal liability or responsibility for the accuracy, completeness or usefulness of any material on this site. Reference to any program or scholarship does not imply its endorsement, sponsorship*
- Texas State Grant 

  Texas residents may qualify for a Tuition Equalization Grant (TEG). These funds are limited in nature and are awarded to students with the highest financial need (as determined by completion of the FAFSA) on a first-come, first-served basis. Students must prove that they have been Texas residents for at least one year prior to the semester they begin their program.

  Eligibility is contingent upon submission of the [Texas Core Residency Questionnaire](https://rice.box.com/s/q77jqtphjwkl98wor40ce3p8v8y9ib21) and proof of residency. Upon receipt of your FAFSA and all required documents, submissions will be assessed for eligibility and awarded pending the availability of funds.

  MBA students, this must be your first master's degree to be eligible.

  NOTE: Availability of funding is at the discretion of the State and is not guaranteed even if all eligibility requirements have been met.
- Federal Student Loans

  Federal Direct Student Loans are issued through the Department of Education and are available to US Citizens and US Permanent Residents (green card holders).

  The first step is to complete the Department of Education’s [202](https://studentaid.gov/h/apply-for-aid/fafsa)[6](https://studentaid.gov/h/apply-for-aid/fafsa)[-202](https://studentaid.gov/h/apply-for-aid/fafsa)[7](https://studentaid.gov/h/apply-for-aid/fafsa) [Free Application for Federal Student Aid](https://studentaid.gov/h/apply-for-aid/fafsa). Rice University’s FAFSA school code is 003604.

  Your FAFSA information will be forwarded to us automatically (once you've been admitted and paid your enrollment deposit).

  The Department of Education offers one type of Federal Student Loan to new students beginning July 1, 2026:

  **Federal Direct Unsubsidized Loan**\
  The maximum academic year (Fall + Spring semesters) amount is **$20,500** for Full-Time, PMBA-Evening, and Hybrid MBA

  The maximum academic year (Fall + Spring semesters) amount is **$10,250** for EMBA and PMBA-Weekend

  - Interest Rate: 7.94% fixed (7/1/25 - 6/30/26)
  - Origination Fee: 1.057% - this will be deducted from the gross loan amount
  - Loan Disbursement: 50% in fall and 50% in spring
  - Interest Accrual: begins to accrue on the amount disbursed from the point of disbursement
  - Minimum Enrollment: a minimum of half-time (4.5 credits/semester)
  - Approval: completion of the [FAFSA](https://studentaid.gov/h/apply-for-aid/fafsa)

  The recent budget reconciliation bill (H.R.1, passed by the 119th Congress and signed into law July 4, 2025) results in several changes to Federal Student Aid.  Guidance from Federal Student Aid will be [shared here](https://financialaid.rice.edu/federal-aid-updates) as it becomes available.
- Private Student Loans

  Private Student Loans are an additional funding option to be used in combination with, or as an alternative to Federal Student Loans. Approval and loan terms are based on the applicant's credit worthiness as determined by the lender.

  Rice Business provides a [historical lender list](http://www.elmselect.com/?schoolId=657#/)\* that may assist your research.

  *\*You are not limited to this list or obligated to borrow from any specific lender. If you do not see your desired lender, please contact them directly.*
- Payment Plans and Third-Party Billing

  The Bursar’s Office offers a [Semester Payment Plan](https://bursar.rice.edu/payment_options/payment-plans) that allows you to pay your semester balance in 4 interest-free installments. Students are able to enroll in the Semester Payment Plan through ESTHER beginning in July for the Fall semester and in December for the Spring semester. There is a $75 fee each semester to enroll in the Payment Plan.

  **Third-Party Billing** is a billing method in which an entity such as a company, corporation, or government agency can establish direct invoicing and payment on behalf of the student. You can find additional information about third-party sponsorship on the [Bursar's website](https://bursar.rice.edu/payment_options/third-party-sponsored-payments).
- Resources for International Students

  To obtain an F1 student visa, international students in the Full-Time MBA program must demonstrate sufficient funding for either one academic year (including tuition and living expenses) or for the duration of your program, depending on your visa type. We encourage you to review the information on the [Office of International Students and Scholars](http://oiss.rice.edu/) site and reference the International Financial Declaration Form for MBA Students.

  Rice University has partnered with [Flywire](https://bursar.rice.edu/payment_options/international-payments) to make the process of wiring funds from abroad as affordable as possible for you.

  #### International Grant & Loan Organizations

  The following loan opportunities may not require a US citizen or permanent resident co-signer.

  - [Banco de México-FIDERH](http://www.fiderh.org.mx/) is a federal trust managed by the Central Banco de México that offers affordable low-interest loans to Mexican students for graduate studies either in Mexico or abroad. The Jones Graduate School of Business (JGSB) participates in a collaboration agreement with FIDERH. If (1) a Full Time MBA applicant is awarded an admissions scholarship and (2) is approved for funding by FIDERH, the JGSB guarantees that the total admissions scholarship award will be a minimum of 25% of tuition.
  - [CONACYT](http://www.conacyt.mx/) is a member of Mexico’s department of education and offers scholarship and stipend opportunities to Mexican nationals seeking to study abroad.
  - [Global Student Loan Corporation](http://www.globalslc.com/) is a third-party loan facilitator that assists in providing educational loans to citizens of India.
  - [GradRight](https://gradright.com/fundright.html) is a third-party loan facilitator that allows students from India to compare lenders and submit their application to multiple banks at once.
  - The [Leo S. Rowe Pan American Fund](http://www.oas.org/en/rowefund/purpose.asp) grants interest-free educational loans to students from Latin American and Caribbean OAS member countries to help them finance their higher education studies in the United States.
  - [MPower Financial](https://www.mpowerfinancing.com/) provides loans to international and DACA students without requiring a co-signer. The maximum amount they will approve is $100,000 for the two-year program.
  - [Prodigy Finance](https://prodigyfinance.com/) offers loans without a co-signer to students studying at a select number of U.S. MBA programs. Rice University's Full Time program is approved for financing (this option is not available for students in the Professional or Executive MBA programs).

  #### US Loan Organizations

  Typically, when applying for a loan from US banks, international students must have a US citizen or Permanent Resident (i.e., green-card holder) as a co-signer.

  Rice Business provides a [historical lender list](http://www.elmselect.com/?schoolId=657#/) that may assist your search. Select "International" from the drop-down and click on "View Loans".  Lenders on this list other than MPower and Prodigy required a U.S. cosigner.
- Military and Veterans Education Benefits

  At Rice Business, we value the contributions of our veterans and work diligently to support the educational goals that make use of your GI Bill® education benefits. We are here to help you, your spouse, or dependents access the educational benefits earned by serving in the armed forces of the United States.

  Jones Graduate School of Business is proud to participate in the Yellow Ribbon program at the highest level: Once your Chapter 33 annual cap has been exhausted, we will cover 50% of the remaining charges with a Yellow Ribbon Scholarship and the VA will match our 50% contribution. With a combination of your GI Bill benefits and Yellow Ribbon contributions, 100% of your MBA program costs (tuition and required fees) can be covered!

  For more information, please visit our [Military and Veteran Benefits](https://business.rice.edu/military/benefits) page.
- Estimated Cost of Attendance

  The [Estimated Cost of Attendance](https://rice.box.com/s/edi5uenfncdxfn8nvsn20zfmo3ssh2wc) budget consists of direct costs (e.g., tuition, fees) and estimated allowances for indirect costs (e.g., housing, transportation, etc.) for one academic year

  The COA does not represent how much you will be charged by Rice, but is meant to be used as a budgeting tool. It also represents the MAXIMUM amount of total aid you can receive each year (including scholarships, loans, etc.).
- Frequently Asked Questions

  **What is the FAFSA?**\
  The Free Application for Federal Student Aid is an online application provided by the Department of Education. It consists of (a) personal/household information and (b) the prior-prior tax year's information. The [FAFSA](https://studentaid.gov/h/apply-for-aid/fafsa) is only required if you are interested in receiving federal student loans and must be completed each academic year.

  **Why is the FAFSA needed?**\
  The FAFSA is the first step when applying for federal student loans. It is not required for private student loans. Federal loans for graduate students are not need-based, which means your income is not a factor for determining your eligibility. No matter how much (or how little) your income is, there are two loans graduate students may apply for: the Unsubsidized Loan and/or the Graduate PLUS Loan.

  **Am I eligible for student loans?**\
  Domestic students (US citizens and Permanent Residents) are eligible to apply for federal, state, and private student loans. If you are an international student please review the information in the Resources for International Students section above.

  **Are federal grants available?**\
  No. Students attending graduate school are not eligible for federal need-based funding, which includes grants (such as the Pell Grant) or Direct Subsidized Loans.

  **When do I start applying for student loans?**\
  The loan application process begins after (a) you are admitted to the program and (b) you submit your enrollment deposit.

  If applying for federal and/or state student loans, the first step is to complete your [2025-2026 FAFSA](https://studentaid.gov/h/apply-for-aid/fafsa). We will begin processing FAFSAs and certifying loan applications in June for the coming academic year. Application instructions for federal and state student loans will be emailed to your Rice email account beginning June 1.

  If you will be applying for private student loans, we recommend you begin no earlier than May 15.

  **How much should I borrow?**\
  Financial Aid is for one academic year at a time (not for the full program). You should review the Cost and Funding Calculator for assistance in determining how much to apply for.

  **What is the deadline for making billing or payment arrangements?**\
  Fall: Billing begins the first week of July with a payment deadline of September 10th. Spring: Billing begins the first week of December with a payment deadline of February 10th.

  **Where can I review charges, check my account balance, or make payments?**\
  Once you have access to ESTHER, you can review your charges, see anticipated credits, make payments, etc. Here is [additional information](https://bursar.rice.edu/student-accounts/general-billing-information) on where to go in ESTHER to access the Payment Suite.

## Tuition Information

Please visit the individual programs for specific tuition information.

[Full-Time MBA](https://business.rice.edu/rice-mba/full-time-mba/tuition-and-financial-aid)

[Professional MBA](https://business.rice.edu/rice-mba/professional-mba/tuition-and-fees)

[Hybrid MBA](https://business.rice.edu/rice-mba/hybrid-mba/tuition-and-fees)

[Executive MBA](https://business.rice.edu/rice-mba/executive-mba/tuition-and-fees)

[Online MBA@Rice](https://onlinebusiness.rice.edu/admissions/tuition-and-financial-aid/)

## Employer Support Guidelines for Rice MBA Programs

A Rice MBA is a smart, lifelong investment in yourself — delivering a proven return through career advancement, long-term support and a powerful alumni network. An MBA from Rice Business delivers a positive ROI on its own, and employers may also offer tuition assistance or other support during your MBA, particularly for our working professional programs (Professional MBA, Hybrid MBA, Online MBA and Executive MBA). To help you get started, we’ve developed guidelines to help you prepare for the conversation with your employer.

[Employer Sponsorship](https://business.rice.edu/working-professional-employer-support)

## Admit It: Rice Business MBA Blog

Programs

### [Life Savings](https://business.rice.edu/admissions-blog/life-savings)

What’s the cost of an MBA? Even for candidates who know their next step is business school, the financial commitment is significant. But you may be surprised at how affordable a Rice MBA really is.

Programs

### [One Of A Kind](https://business.rice.edu/admissions-blog/one-of-a-kind)

It’s a big leap, applying for an MBA. How do you know which business school best suits your career goals? Current students and recent alumni explain what sets Rice Business apart.

Programs

### [The Power of Choice: How MBA Electives Can Fuel Career Growth](https://business.rice.edu/admissions-blog/how-mba-electives-fuel-career-growth)

Your MBA, your way. Customize your experience at Rice Business by choosing electives that align with your career goals.

## Keep Exploring

[Military at Rice](https://business.rice.edu/military)

### Ready for the Next Step?

[Request More Information](https://business.rice.edu/request-information)