Rice Widens Free-Tuition Promise For Prospective Business Majors

August 3, 2026 - 18:17

Rice University is broadening its Rice Investment financial aid initiative to include undergraduate business majors, a move that aligns with the upcoming opening of a new 112,000-square-foot facility for its growing business school. The expansion means that students from families earning up to $140,000 per year will receive full tuition coverage, while those with household incomes below $75,000 will also have their fees and living expenses fully covered.

The change takes effect for the next admissions cycle and applies to both current and prospective students in the Jones Graduate School of Business's undergraduate program. Previously, the Rice Investment applied only to students in other divisions, leaving business majors to rely on standard financial aid packages. University officials say the decision reflects a commitment to removing financial barriers for students pursuing careers in commerce and entrepreneurship.

The timing is notable. The business school has seen a surge in enrollment over the past five years, and the new building, set to open next fall, will include expanded classrooms, collaborative spaces, and a trading floor simulation lab. Administrators hope the combination of new facilities and guaranteed aid will attract a more diverse applicant pool, particularly first-generation college students and those from middle-income families who often fall through the cracks of need-based aid.

Rice's president called the move a natural next step in the university's broader effort to make elite education accessible. The expanded promise does not apply to transfer students or those enrolled in dual-degree programs with other institutions. Current business majors will see the new aid reflected in their fall semester billing statements. The university estimates the change will cost an additional $12 million annually, funded through its endowment and ongoing fundraising.