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 2020, the award will be $37,000 or the cost of full tuition, whichever is less. For institutions with tuition greater than $37,000, 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.