|Applies to:||Original Policy Date:||Date of Last Review:||Approved by:|
|Dependent children of full-time faculty and staff employees||August 2012||August 26, 2022||Dr. Marco Carvalho
Executive Vice President and Provost
Policy Owner: Office of Financial Aid
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. This policy outlines eligibility, application, and participation requirements for TE participants and ensures that Florida Tech fulfills its obligations as a member of the Tuition Exchange program.
This policy applies to dependent children of eligible Florida Tech employees wishing to seek a scholarship for and attend another private institution that participates in the Tuition Exchange program.
Tuition Exchange is a scholarship program for dependent children of eligible employees who want to pursue a full-time undergraduate program not offered by Florida Tech. This program is a scholarship program and is not a guaranteed benefit.
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, which may choose to restrict the number of scholarships it awards.
Scholarships are not granted for undergraduate degree programs available at Florida Tech, graduate degrees, non-degree study, study abroad, or second undergraduate degrees. Summer session programs are also excluded from this scholarship.
Tuition Exchange member institutions are obligated to maintain a balanced student exchange pattern, 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 limit the number of TE Scholarships awarded if there are more applicants from faculty and staff families (potential exports) than imports from other institutions.
Colleges and universities participating in this program may cover full tuition for participants from other member institutions or provide a scholarship at a set rate that is determined annually by Tuition Exchange. Some partner institutions also waive room and board. 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.
Florida Tech has established a detailed list of procedures and priorities to help make this program as easy and fair 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. Florida Institute of Technology reserves the right to modify its policies and procedures related to the TE program, or to terminate the program at any time. It is the responsibility of the applicant for Tuition Exchange Benefits to ensure 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.
Please note: Tuition Remission for children of full-time faculty and staff attending Florida Institute of Technology is not affected by Florida Tech’s participation in the Tuition Exchange. Please see the Office of Human Resources for details about Tuition Remission.
Application Process and Timeline
- By November 1, dependent children of Florida Institute of Technology faculty and staff who are seeking admission to a partner private institution for the following academic year should complete the Tuition Exchange application.
- The TE Liaison Officer receives submitted applications and verifies the eligibility and seniority of the employee/parent.
- By November 1 of each academic year, Florida Tech is informed of the number of units (slots) available for the upcoming academic year. The number of available slots varies from year to year and is determined by the current number of Florida Tech “imports” and “exports.”
- By November 15 available slots will be assigned to applicants, corresponding to the number of scholarships potentially available. If the number of applicants is equal to the number of slots available, each applicant will be given the opportunity to apply for a TE scholarship. If the number of applicants exceeds the number of slots, 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 (for purposes of this program, 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 eligible employee retains the 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. Seniority ranking will be adjusted in the event that it is determined an initial allocation will not be fully used.
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 outlined above. If 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.
- The TE Liaison Officer certifies the eligibility of selected applicants to apply for a TE scholarship and forwards their applications to the TE institution(s). Notifications will be made by letter or email.
- Each TE institution reviews the certified applications they receive and makes their decision based on their guidelines. Applicants who are awarded a scholarship must accept the TE scholarship award in writing by April 1 for the upcoming academic year and notify the Florida Tech TE Liaison Officer of the decision to enroll in a TE member institution. Applicants who do not meet this requirement will forfeit their awards.
- 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 published 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.
- 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.
- 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.
- 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.
TE Scholarships and Other Aid
- 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 receives an academic or talent scholarship from an institution for a full scholarship, the student would not be eligible for a TE scholarship.
- TE scholarship recipients will not be eligible for a grant-in-aid or tuition remission from Florida Tech while they hold a TE scholarship.
For more information on the Tuition Exchange program, including member institutions, visit tuitionexchange.org.
More information about Florida Tech’s participation in the TE program and contact information for the TE Liaison Officer is available on the Florida Tech Tuition Exchange webpage.
Eligible Employee: Any currently employed Florida Institute of Technology full-time faculty or staff employee who has completed at least one calendar year of full-time service at Florida Institute of Technology. The one-year anniversary must be by the August faculty contract date preceding the use of a TE Scholarship.
Dependent Child: For purposes of this policy, any child born to an employee, legally adopted by an employee, or for whom legal guardianship by an employee can be documented. The Internal Revenue Code definition of dependent status shall apply in all cases.
Applicant: The dependent child of an eligible employee who has applied to the TE program and as a first-time freshman for full-time, undergraduate study to a private college or university that participates in the TE program.
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.
The Tuition Exchange (TE) Liaison Officer is responsible to certify eligible TE participants as appropriate.
Applicants to the TE program are responsible for following the guidelines and adhering to deadlines.
Failure to comply with this policy could result in a loss of membership and benefits from the TE program.