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The following is a presentation prepared for EASFAA’s 2010 Conference in Mashantucket, CT May 16-19, 2010.

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Presentation on theme: "The following is a presentation prepared for EASFAA’s 2010 Conference in Mashantucket, CT May 16-19, 2010."— Presentation transcript:

1 The following is a presentation prepared for EASFAA’s 2010 Conference in Mashantucket, CT May 16-19, 2010

2 Tuition Benefit Programs Another Form of Financial Aid?

3 Presenters Janet Dodson, Vice President of Policy, Research and Education, National Student Loan Program and Robert D. Shorb, Special Assistant to the Dean, Skidmore College and Executive Director/CEO of The Tuition Exchange Inc.

4 Tuition Benefits for Dependents Tuition Remission (Internal) Tuition Exchange Tuition Grants (External)

5 For taking courses on campus Earning degree (s) Academic year, summer or special term Employee, spouse, partner, dependents Open seats Time availability Limits

6 Common at private institutions Normally covers all or a portion of tuition only May extend to dependents, spouse and partner as well as employees Fiscally treated as a tuition discount and considered an employee benefit Determination of eligibility is usually done through Human Resources

7 Public institutions may be required to “charge” tuition Normally covers all or a portion of tuition only May extend to dependents, spouse and partner as well as employees May require specific sources of revenue to fund awards Determination of eligibility is usually done through Human Resources

8 May cover other fees Waive certain fees for employees –Fees may be charged for items that the employee is entitled to as an employee benefit –The institution may be more flexibility in waiving fees than in waiving tuition for statutory reasons May be extended to spouse, partner and/or dependents

9 For taking courses off campus Earning degree (s) Academic year, summer or special term Employee, spouse, partner, dependents Time availability Limits

10 Some private institutions Normally covers a portion of tuition only Usually for dependents and sometimes for spouse, partner and employees Fiscally treated as a “cash” employee benefit Determination of eligibility is usually done through Human Resources

11 Very few public institutions participate Normally covers a portion of tuition only Usually for dependents May require specific sources of revenue to fund awards Determination of eligibility is usually done through Human Resources

12 For taking courses off campus Earning degree (s) Academic year, summer or special term Employee, spouse, partner, dependents Time availability Limits

13 Mostly private institutions Normally covers all or a portion of tuition Usually for dependents and sometimes for spouse, partner and employees Fiscally treated as a “cash” expense and is not an employee benefit Determination of eligibility is usually done through Human Resources

14 605 Tuition Exchange, Inc. 350 Council of Independent Colleges 96 Christian Colleges Exchange 69 Catholic College Cooperative 28 Association of Jesuit Colleges & Universities 28 Evangelical Lutheran Church in America 16 Association of Colleges of the South 12 Great Lakes Association of Colleges 13 Associated Colleges of the Midwest 37 Association of Presbyterian Colleges

15 Tuition Exchange, Inc. 605 institutions 5,400 students receiving scholarships $115M in total value Individual value is tuition up to $29,000 If tuition greater, optional to cover more Import and export balance Few guidelines Low cost to participate Valuable opportunity for dependents of faculty/staff

16 Tuition Exchange, Inc. orgwww.tuitionexchange. org Central office in Washington, DC 2/3 of institutions will provide full tuition if student is accepted Process is three-step Apply for TE at parent’s employer Apply for admission to a TE institution TE institution decides on admission and TE scholarship eligibility

17 Imports Exports Students attending your institution on TE Certified eligible to be considered for TE by their parent’s employer (another TE institution) Dependent children of eligible employees of your institution Awarded a TE Scholarship by another TE institution

18 Skidmore College’s Experience With Tuition Exchange

19 Imports Exports Helps recruitment Help enrollment goals Fills empty seats Attracts students who would not have attended otherwise Stretches aid budget Expand educational opportunities Relieves pressure to accept un-qualified employee dependents Encourages students to leave home Low cost, high value

20 Institutional Ratings of Admission Applicants Academic Involvement Character

21 Home States of Enrolled TE Students at Skidmore CA CT DC IL IA KY MA NY OH PA RI TX VT WI

22 New Student Import History

23 New Student Export History

24 Overall Import/Export History

25 09-10 Income Expense Each TE import brings in $10,600 tuition Each non-TE student brings in $39,600 tuition Each TE export saves $1,950 external cash benefit Each TE import costs $29,000 Staff time to administer program Institutional dues

26 Meets enrollment management goal to increase the demand curve Enables the college to manage retention Maximizes merit scholarship dollars for higher ability students Builds a strong image with collegiate peers

27 1.Review current tuition options with Human Resources 2.Share the benefits from an enrollment management perspective 3.Contact the exchange organization to obtain information

28 1.Set up a meeting for exchange representative to meet with appropriate decision-makers 2.Call other exchange colleges to obtain a broader perspective on program

29 Institutions must set up clear guidelines concerning: –Who is eligible (employees, spouse, partner, dependents, - how do you define “dependent”) –What is covered (tuition, fees, partial tuition) –Terms of the award (how many hours, duration of award) –Rules regarding employee time off for taking classes during the work day –Funding sources

30 Clarify roles of who is responsible to determine eligibility Create good communication among offices (admissions, financial aid, business and human resources) Federal tax implication – ensure there are no surprises to the employee –IRS information may be found at

31 Admissions Financial aid Internal, External, Exchange Employee, Spouse, Partner, Dependents

32


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