Some great news for you if you have a high school student that's thinking about college! They could receive a full ride to attend one of the top universities in Texas.

According to KENS 5, Rice University in Houston announced a new initiative called The Rice Investment, will be offering full-tuition scholarships and grants to students from middle-income families.

According a press release from the school, Full tuition scholarships will be awarded to degree-seeking undergraduates with family incomes between $65,000 and $130,000 who are eligible to receive need-based financial aid while students with family incomes between $130,000 and $200,000 will receive scholarships covering at least half of their tuition.

That's not all, students will also get help with student debt. Families with incomes up to $200,000 who qualify for The Rice Investment will no longer be required to take out loans as part of their need-based financial aid packages.

For more details on The Rice Investment head over to their website.