Rice good to help families in need

By Staff Editorial     1/8/09 6:00pm

With all the attention recently on the economy, it may come as a surprise to hear that Rice is raising its no-loan threshold, giving higher-income families the opportunity to qualify for a financial aid package that does not include loans (see story, page 1). Taking its lead from Ivy League schools like Harvard and Yale, Rice decided last week to increase the annual income threshold from $60,000 to $80,000.Pardon us while we stand and applaud.

This move cannot be seen as anything other than a true desire to socialize the university's funds, granting the poorer greater access to the rich education granted to those who receive the Rice experience. Raising the threshold will allow those strapped down by the recession to feel relatively financially free in applying to the university, knowing that access to Rice's vast endowment will be there to back them up if they need it. By allowing these students into the hedges, Rice can cement its future, guaranteeing that the campus will brim with the brightest and best even in the midst of the economic downturn. In addition, Rice might just move back atop the "Best Buy" podium on which it has become accustomed to standing. Since peaking at No. 1 a few years ago, Rice has slipped down the ranks as our tuition has risen more sharply than other universities'. But by raising the threshold, Rice has ensured that new students will pay less for the same great education far into the future.

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