TUITION EXCHANGE PROGRAM, INC.
The Tuition Exchange is a reciprocal scholarship program for the eligible dependents of faculty and staff employed at over 630 participating institutions. This program offers potential tuition grant-in-aid opportunities besides those that may be available through the CIC Tuition Exchange Program or offered directly by the College. As a member of this program, the College is not eligible to participate in their traditional Tuition Exchange program which has an obligation to maintain a balanced exchange, meaning that the number of student “exports” has to reasonably match the number of student “imports”. We are however eligible to participate in another program they offer called Export/Import 3 (E/I3). This program allows the College to export up to 3 students per year, and requires the College to accept up to 3 students per year. Acceptance into a host institution does not guarantee a Tuition Exchange scholarship. The host institution grants the scholarship in accordance with its established program admission policy and procedures. Many institutions choose their scholarship recipients based on the academic profile of the applicant.
The following guidelines are applicable to eligible STAC employees who participate in the program.
1. Eligible Employee: Upon hire, any active full time faculty or administrative and professional staff member, and any active full time support staff member after having successfully completed the 90-day introductory period.
2. Dependent Child: Any dependent child of an eligible employee as defined by IRS regulations* up to age 24. Eligible employees will be limited to one student per family in a four-year period.
*IRS Definition of Qualifying Child Ø
- live at taxpayers’ residence for more than one-half the applicable tax year
- under the age of 19 (24 if full time student), or
- permanently and totally disabled at any time during the applicable calendar year (no age limitations)
- the individual must not have provided over one-half of his /her own support for the applicable calendar year
3. Applicant: The dependent child of an eligible employee who has applied for full-time undergraduate study to a college or university participating in the Tuition Exchange E/I3 program. Tuition Exchange E/I3 scholarships are not granted for graduate study, non-degree study or second (or more) undergraduate degrees.
4. Maximum Scholarship: The maximum periods of time that each export and import recipient may receive a scholarship is four years (eight semesters), excluding special/summer sessions, or until completion of a baccalaureate degree, whichever occurs first. Continued participation is contingent upon yearly certification of eligibility and the student’s satisfactory academic standing at the host institution. The host institution scholarship will cover the host institution’s tuition or $32,500** of the tuition if the tuition is higher than $32,500.
**set by the TUITION EXCHANGE, and subject to change, based on average undergraduate tuition of participating institutions.
5. Application Process: The Director of Admissions serves as the Tuition Exchange Liaison Officer. The Liaison Officer will prepare, authorize and submit the TE Application form to the TE Liaison officer at the institution(s) to which the student is applying. The Liaison officer at the exchange institution(s) will notify the student that their application has been accepted or rejected.
a. In order to determine if the number of prospective applicants exceeds the number of slots, applicants are required to complete STAC Tuition Exchange E/I3 Eligibility Form by August 15th of the year prior to the year in which the student would attend school. The Office of Human Resources, if needed, will then determine eligibility on the following priority, and let applicants know by September 1st of the year prior to the year in which the students would attend school:
i. First priority will be given to applicants based on continuous full time seniority. One student per eligible employee per application year will be considered, unless there are no other applications for the year.
ii. Should there be a tie among applicants with the same number of service years, a lottery will take place.
iii. Applicants not selected in the lottery will be put on a wait list in the order drawn during the lottery. In the event an export applicant is not successful in obtaining a TE scholarship, the next name on the wait list will be certified.
b. Eligible employees must then complete the STAC Application for Tuition Exchange E/13 Program STAC Application for Tuition Exchange E/I3 Program by December 15 of the year prior to the student’s first fall semester of enrollment. Annual renewal applications (same form) must be submitted by March 15 of the year prior to the student’s next fall semester of enrollment.
c. Accepted applicants must notify the St. Thomas Aquinas College liaison of an approved award no later than April 1 prior to the fall semester of enrollment. The deadlines are established so that the College can determine that the required “balance” of imports and exports is being maintained. Failure to meet the application and notification deadlines will result in the student’s TE eligibility being given to another applicant.
d. An annual $35.00 processing fee, payable to the College, will be applied to the applicants who accept a Tuition Exchange scholarship.
St. Thomas Aquinas College or the Tuition Exchange Program reserves the right to terminate this program at any time.