Tuition runs $36,600 a year, with an additional $14,000 or so in fees, room and board, and expenses. But, Rice meets 100 percent of demonstrated need for all admitted students. As of 2009, Rice eliminated loans to students whose family income is below $80,000, instead meeting their need through a combination of grants, work- study, merit aid (if qualified), and institutional funds. For students with need eligibility whose family income is above $80,000, Rice will award a small subsidized loan in combination with grants, work- study, merit aid (if qualified), and institutional funds to cover 100% of the student’s unmet need. The subsidized loan cap for students who show need is $2,500 each year, significantly limiting the debt at graduation for the small number of students in this category.