Florida Tech Tuition Exchange

Tuition Exchange

Florida Institute of Technology campusFlorida Institute of Technology is a proud participant in The Tuition Exchange, a not-for-profit reciprocal scholarship program that makes it possible for the dependents of faculty and staff at participating colleges and universities to apply for full tuition scholarships at partner institutions.

Dependents of Florida Tech faculty and staff may apply for a Tuition Exchange scholarship at over 600 participating colleges and universities.

Dependents of faculty and staff at participating institutions are encouraged to apply for admisssion to Florida Tech's prestigious undergraduate degree programs in aeronautics, business, engineering and applied science, the sciences (including premedical studies), psychology, communication and the liberal arts.

If you have additional questions, please contact the Associate Vice President for Enrollment Management and Tuition Exchange Liaison, Gary Hamme.

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TUITION EXCHANGE GUIDELINES

FOR DEPENDENTS OF FLORIDA TECH EMPLOYEES WISHING TO ATTEND A TUITION EXCHANGE INSTITUTION

Florida Institute of Technology is a member of the Tuition Exchange, Inc. (TE), a national scholarship exchange program for dependent children of full-time faculty and staff, with members from over 600 U.S. colleges and universities. This is a tremendous opportunity for Florida Tech families when a dependent child wants to pursue a full-time undergraduate major not offered by the University with a TE member private college or university. But, it’s important to realize this is a scholarship program not a guaranteed benefit.

Colleges and universities participating in this program may cover full tuition for participants from other member institutions. Some partner institutions also waive room and board. For students that will enter a college or university in Fall 2014 the award will be $32,500 or the cost of full tuition, whichever is less. For institutions with tuition greater than $32,500, Tuition Exchange awards will be less than full tuition. Any difference between the Tuition Exchange Program scholarship and actual tuition, plus costs for room and board and any other fees, must be paid by the student's family or covered by other sources, if eligible and available.

The primary obligation of Florida Tech and each member institution is to maintain a balanced student exchange pattern. That means keeping a reasonable match between students from Florida Tech going to other private schools (exports) and students coming to Florida Tech from other private schools (imports). A member institution may import as many as it wishes. It may not however, export more than it imports. Because of that, Florida Tech may have to limit the number of TE Scholarships awarded if we have more applicants from faculty and staff families (potential exports) than we have student imports.

Florida Tech has established a detailed list of procedures and priorities to help make this program as easy and fair to all employees as possible. Participants need to know, from the beginning, that there are many factors which affect a student’s ability to begin and remain in the program.

Please note: The guidelines for children of full-time faculty and staff attending Florida Institute of Technology are unchanged by Florida Tech’s participation in the Tuition Exchange. Please see the Office of Human Resources for details.

A. Definitions:

  1. Eligible Employee: Any currently employed Florida Institute of Technology full-time faculty or staff, who has completed at least one (1) calendar year of full-time service at Florida Institute of Technology. The one-year anniversary must be by August faculty contract date preceding the use of a TE Scholarship.
  2. Dependent Child: Any child born to an employee, legally adopted by an employee, or for whom legal guardianship can be documented. The Internal Revenue Code definition of dependent status shall apply in all cases.
  3. Applicant: The dependent child of an eligible employee who has applied as a first-time freshman for full-time, undergraduate study to a private college or university that participates in the TE program. Scholarships are not granted for undergraduate degree programs available at Florida Tech, graduate, non-degree study, study abroad or second undergraduate degrees. Summer session programs are also excluded from this scholarship.
  4. Maximum Scholarship: TE scholarships will not exceed a maximum of four years (8 semester or 12 quarter tuition remission “units” or “slots”) per eligible student.
  5. Tuition Exchange Liaison Officer: Gary Hamme, Associate Vice President for Enrollment Management.

B. Tax Issues

  1. Tuition Exchange participants should seek guidance from their own tax and legal professional advisers. For basic information consult www.IRS.gov Publication 970, Tax Benefits for Education.

C. Procedures:

  1. By November 1 of the current academic year, dependent children of Florida Institute of Technology faculty and staff who are seeking admission to a partner private institution will notify the TE Liaison Officer of intent to apply for a TE scholarship for the following year by completing the Preliminary Application available online under Human Resources (“Forms”) and returning it to the TE Liaison Officer. Please note, there is $35 processing fee, made payable to Florida Institute of Technology, for each eligible student.
  2. The TE Liaison Officer will verify the eligibility and seniority of the employee/parent.
  3. By November 1 of each academic year, Florida Institute of Technology will be given the number of “units” available for the upcoming academic year. The number of available “units” or “slots” will be determined by the current number of Florida Institute of Technology “imports” and “exports”; correspondingly, these will vary from year to year. Slots will be assigned to applicants. These will correspond to the number of scholarships available.
  4. By November 15 of the current academic year, the selection of TE (export) candidates will be made. If the number of applicants is equal to the number of TE scholarships available, each applicant will be given the opportunity to apply for a TE scholarship. If the number of applicants exceeds the number of TE scholarships, candidates will be selected as follows: First priority will be given to students holding a TE scholarship who are already enrolled in a member institution. The student must also be in good academic standing (at least a 2.6 on a 4.0 scale) and continuing to pursue a degree program not offered at Florida Tech. Second priority will be given to applicants based on employment seniority of the parent/guardian. Seniority is based on the number of years of consecutive full-time service at Florida Institute of Technology. A family can be awarded one new TE Scholarship based on seniority. If both parents and/or guardians are Florida Tech employees, those persons may not combine their years of service. However, each employee retains his/her right to independently participate in the TE Program. For employees who have already received Tuition Exchange benefits, seniority ranking will be reduced by one year of employment for every two units of tuition exchange benefit received. Seniority ranking will be reduced at the time of the initial award, presuming that all units of the benefit will be used. At a time when it is determined that an initial allocation will not be fully used, the seniority ranking will be adjusted at that time. Applicants who are not selected as TE recipients will be placed on a waiting list as alternates for the upcoming academic year in accordance with the priority ranking outined above. In the event that a TE recipient chooses to attend a non-TE institution or otherwise forfeits the right to receive a TE scholarship, alternates may be reconsidered for any available slots.
  5. The TE Liaison Officer certifies the eligibility of selected applicants to apply for a TE scholarship. Notifications of award will be made by letter or email.
  6. Selected applicants must accept the TE scholarship award in writing by April 1, for the upcoming academic year and notify the TE Liaison Officer of the decision to enroll in a TE member institution. Applicants who do not meet this requirement will forfeit their awards to alternates on the waiting list.
  7. Eligibility to apply for a TE scholarship is determined solely by Florida Institute of Technology. However, TE scholarships are granted by the host institution. Florida Institute of Technology cannot guarantee that any applicant, no matter how well qualified, will receive a TE scholarship from the host institution that may choose to restrict its imports if their number exceeds exports.
  8. Continued participation in the program is contingent upon maintaining a GPA of at least 2.6 on a 4.0 scale, as well as meet the importing institution’s publish standards. Each recipient who is awarded a TE scholarship must submit an academic transcript to Florida Tech’s TE Liaison Officer one month after the end of each spring semester. Thereafter, recertification to each host private school will be notified by Florida Tech through the Tuition Exchange electronic procedure.
  9. Students will ordinarily be able to remain in the program for up to four years, but continued participation depends upon yearly certification of eligibility, the student continuing to pursue a degree program not offered at Florida Tech, the student’s adequate academic standing at the host institution, and Florida Institute of Technology’s ability to attract sufficient “imports” to offset or balance its “exports”. Accordingly, recertification will be completed by the TE Liaison Officer and processed in a timely manner every year. Florida Tech hopes to be able to continue students on the TE for their enrollment time at their host institution.
  10. If a TE recipient takes a leave of absence, withdraws from school, studies abroad or graduates, the student must notify the TE Liaison Officer at both Florida Institute of Technology and the host institution immediately.
  11. TE applicants who qualify to receive aid from other sources (excluding loans) in excess of 50% of the total cost of tuition, room, board, and fees are not eligible to receive a TE scholarship. For example, if a student should receive an academic or talent scholarship from an institution for a full scholarship, the student would not be eligible for a TE scholarship.
  12. TE scholarship recipients will not be eligible for a grant-in-aid or tuition remission from Florida Tech while they hold a TE scholarship.
  13. TE benefits will not be terminated if the employee retires, dies, or becomes totally disabled. In the event of termination of employment (voluntary or involuntary), the TE benefits will continue without penalty until the end of the then current semester.
  14. Florida Institute of Technology reserves the right to modify these Guidelines to insure an appropriate balance between “import” and “export” students.
  15. It is the responsibility of the applicant for Tuition Exchange Benefits to assure that all required application and response times are met. Applicants not adhering to specified deadline dates will not be eligible for participation in the program.
  16. Florida Institute of Technology reserves the right to modify or terminate this program at any time.

D. Checklist Summary:

  • By September 30, check out private institutions that participate in Tuition Exchange and complete respective admission applications.
  • By November 1, complete the Preliminary Application form.
  • By November 15, Florida Tech will select the TE scholarship winners that are approved to go to other schools.
  • Student must be accepted for admission and for tuition exchange at the private college of choice.
  • Contact private institutions that you are interested in and inquire if they can accept you as a TE scholarship winner.
  • Wait for confirmation from the institution you are applying to regarding your TE scholarship.
  • By April 1, notify Florida Tech’s Tuition Exchange Officer in writing of your acceptance (or rejection) of the TE Scholarship and which school you will be attending.
  • One month after completing the spring semester as a Tuition Exchange Export from Florida Tech, you are required to submit an academic transcript to Florida Tech’s Tuition Exchange Officer. This must be done annually for recertification purposes.

Please feel free to contact the TE Liaison Officer if you have any questions regarding Tuition Exchange, Inc.:

Gary Hamme, TE Liaison Officer
Associate Vice President for Enrollment Management

Judith Kelliher
Administrative Assistant for the Associate Vice President

TUITION EXCHANGE GUIDELINES

FOR DEPENDENTS OF EMPLOYEES FROM TUITION EXCHANGE INSTITUTIONS WISHING TO ATTEND FLORIDA TECH (FOR ACADEMIC YEAR 2014-2015 ENROLLMENT)

The Tuition Exchange is a national scholarship exchange program for eligible dependent children of employees, with members from over 600 U.S. colleges and universities. Florida Institute of Technology will only exchange with dependent children of employees at private colleges or universities that participate in The Tuition Exchange.

The Tuition Exchange Program is administered by the Office of Enrollment Management. The Tuition Exchange Program Liaison Officer is Gary L. Hamme, Associate Vice President for Enrollment Management.

APPLICATION PROCEDURES

Students wishing to attend Florida Tech as part of the Tuition Exchange Program must both:

  1. Submit an application for admission to attend Florida Tech as a first-time full-time freshman in an undergraduate day program by January 15, 2014.
  2. Have the private college or university of the eligible parent/guardian submit an application to the Tuition Exchange Program on their behalf. The Florida Tech Office of Enrollment Management will then be notified of the certification of the student by the Tuition Exchange Program. For applications during the Academic Year 2013-14 for admission to Florida Tech in Fall 2014, the Florida Tech Tuition Exchange Liaison Officer must receive a student’s certification notification by January 15, 2014 to be eligible for consideration.

NOTIFICATION and AWARD REQUIREMENTS

Scholarship decisions will be mailed no later than April 15, 2014. A student must notify Florida Tech’s Office of Enrollment Management of their acceptance no later than May 1, 2014.

In 2014-2015, Florida Tech Tuition Exchange Scholarship awards will provide full-tuition or up to $32,500, whichever is less, per academic year in an undergraduate day program. The Florida Tech Office of Enrollment Management awards Florida Tech Exchange Scholarships based on academic performance, extracurricular achievement and any other indicators of the academic strength of prospective students. The scholarships will be available for four years or the completion of a baccalaureate degree, whichever comes first. Any additional costs must be covered by the student. Room, board, flight training and other Florida Tech fees are not covered by the Tuition Exchange Program scholarship. A student who is granted a Tuition Exchange Program scholarship is not eligible for any other scholarships or grants given by Florida Tech.

When a student is granted a Tuition Exchange Program scholarship award, the student must maintain status in a full-time, on-campus undergraduate day program, maintain a 2.6 cumulative GPA, and comply in full with the policies and procedures of Florida Tech. A Tuition Exchange Program scholarship may only be used for full-time day undergraduate matriculation in the following colleges: College of Aeronautics; College of Business; College of Engineering; College of Psychology and Liberal Arts; and College of Science.

Students that hold a Tuition Exchange Program scholarship must be re-certified each year by the private college or university of the eligible parent/guardian and must fulfill all obligations of the Florida Tech Tuition Exchange Program scholarship.

Florida Tech and the Tuition Exchange Program reserve the right to modify or terminate this program at any time.

Frequently Asked Questions About Tuition Exchange

What makes an employee eligible for their dependent child to apply?

  • Any currently employed Florida Institute of Technology full-time faculty or staff, who has completed at least one (1) calendar year of full-time service at Florida Institute of Technology. The one-year anniversary must be by August faculty contract date preceding the use of a TE Scholarship.

How is "dependent" defined?

  • Any child born to an employee, legally adopted by an employee, or for whom legal guardianship can be documented. The Internal Revenue Code definition of dependent status shall apply in all cases.

Who is eligible to apply?

  • The dependent child of an eligible employee who has applied as a first-time freshman for full-time, undergraduate study to a private college or university that participates in the TE program. Scholarships are not granted for undergraduate degree programs available at Florida Tech, graduate, non-degree study, study abroad or second undergraduate degrees. Summer session programs are also excluded from this scholarship.

How many years can I receive the benefit?

  • TE scholarships will not exceed a maximum of four years (8 semester or 12 quarter tuition remission “units” or “slots”) per eligible student. Students must meet the importing institution’s published standards to continue the scholarship.

Are TE awards guaranteed for all four years?

  • Students will ordinarily be able to remain in the program for up to four years, but continued participation depends upon yearly certification of eligibility, the student continuing to pursue a degree program not offered at Florida Tech, the student’s adequate academic standing at the host institution, and Florida Institute of Technology’s ability to attract sufficient “imports” to offset or balance its “exports.” Accordingly, recertification will be completed by the TE Liaison Officer and processed in a timely manner every year. Florida Tech hopes to be able to continue students on the TE for their enrollment time at their host institution.

Is a scholarship guaranteed to all eligible applicants?

  • No - Family members eligible for Tuition Exchange Scholarships are not guaranteed an award. Scholarships are not fringe benefits; they are competitive awards. Even if you and your family are eligible to apply for an award, you may not receive an award because each institution is obligated to maintain a balance between students sent on the exchange (exports) and students received on the exchange (imports).

How competitive is the admissions process?

  • Tuition Exchange Scholarships are competitive. In addition to meeting the admissions requirements of the receiving institution, some member institutions have established additional requirements such as higher entrance standards or limit awards to just a few new students each year.

Does being a Tuition Exchange Program recipient guarantee (or affect) my admission to the college?

  • The benefit should have no effect on admission to the college.

What happens to my benefit if my parent becomes ineligible for the benefit in the middle of a term?

  • TE benefits will not be terminated if the employee retires, dies, or becomes totally disabled. In the event of termination of employment (voluntary or involuntary), the TE benefits will continue without penalty until the end of the then current semester.

Should I apply for college admission before, after, or simultaneously with applying for the Tuition Exchange Program benefit?

  • Students should apply for college admission simultaneously with applying for the Tuition Exchange Program benefit.

Is the Tuition Exchange Program benefit taxable?

  • Tuition Exchange participants should seek guidance from their own tax and legal professional advisers. For basic information consult www.IRS.gov Publication 970, Tax Benefits for Education.

What happens to the other types of financial aid that I receive?

  • TE applicants who qualify to receive aid from other sources (excluding loans) in excess of 50% of the total cost of tuition, room, board, and fees are not eligible to receive a TE scholarship. For example, if a student should receive an academic or talent scholarship from an institution for a full scholarship, the student would not be eligible for a TE scholarship.

I was told I am eligible for the Tuition Exchange Program benefit. Should I expect something in writing from the host institution?

  • Yes, you should expect a formal letter from the "importing" institution which outlines the value of the benefit and any terms and conditions for receipt and/or continuation of the benefit.

How many awards are there?

  • The primary obligation of Florida Tech and each member institution is to maintain a balanced student exchange pattern. That means keeping a reasonable match between students from Florida Tech going to other private schools (exports) and students coming to Florida Tech from other private schools (imports). A member institution may import as many as it wishes. It may not however, export more than it imports. Because of that, Florida Tech may have to limit the number of TE Scholarships awarded if we have more applicants from faculty and staff families (potential exports) than we have student imports.

How much is the award?

  • For students that will enter a college or university in Fall 2014 the award will be $32,500 or the cost of full tuition, whichever is less. For institutions with tuition greater than $32,500, Tuition Exchange awards will be less than full tuition. Any difference between the Tuition Exchange Program scholarship and actual tuition, plus costs for room and board and any other fees, must be paid by the student's family or covered by other sources, if eligible and available.