January 2024 Updates
Happy New Year! It is a fresh slate with new beginnings, exciting opportunities, and ways to stay ahead of trends. We recognize the post-holiday hustle as all get back into the groove, so Tuition Exchange Central wants to provide you with essential updates.
Set-Rate for 2025-2026
The Tuition Exchange Board of Directors approved the 2025-26 Set-Rate. The set rate will be $43,000. As a reminder, schools must provide full tuition if your school’s tuition rate is less than the annual set rate. If your school’s tuition exceeds the yearly set rate, you must provide at least the annual set rate.
There are still options. Schools can require all students to complete the FAFSA. If the student is Pell eligible, you can include the Pell Grant as a part of the Tuition Exchange award. Several states offer state tuition grants. As the name implies, state grants can be included in the Tuition Exchange award. The bottom line is the Tuition Exchange award must be comprised of cash. Cash means grants, scholarships, and other free money.
Recently, TE Central received a question asking if schools can offer less than full tuition. The answer is no. Furthermore, schools cannot give TE scholars a cash award that is less than tuition or the annual set rate. If the school increases a TE scholar's tuition annually, the school must increase the scholarship amount accordingly.
The Tuition Exchange Agreement states that:
The Tuition Exchange Scholarship Award is for full tuition or the optional set rate. They are granted by member institutions and not by The Tuition Exchange, Inc., which accepts no responsibility for any misunderstanding between applicants and institutions concerning the selection and award process, amount and duration of scholarships, or exceptional circumstances that might lead to early termination of a scholarship award.
Membership Dues and Participation Fees
Participation fees will increase to $50 per successfully enrolled export. TE Central has no issue if the school passes the participation fee on to the employee. However, TE Central requires the school to pay TE Central directly.
TE Membership Dues for the 2024-2025 year remain at $600.
Computer System update
In November, TE Central updated TELOs on the new system. If you are a new TELO and want to know more, please follow the link: https://www.tuitionexchange.org/vnews/display.v/ART/654c5a21bf79f
The February 2024 online seminar will focus on the student experience. Be looking for your Invitation, including the registration link.
The March 2024 online seminar will focus on TELO's primary and secondary experiences. Stay tuned in early March for your invitation and registration link.
TE Central will provide training on multiple dates and times focused solely on your system experience throughout late April and early May. Please plan accordingly, as the training may be longer than 60 minutes. Every primary and secondary TELO is required to attend.
TE Central needs your help!
Please take the time to review the following areas in the current TE portal, updating and saving all changes. Current information will be mapped and transferred to the new system in June. Please be diligent in keeping the information up to date.
Institution Account
Mandatory Institutional Profile: all information should reflect the 2024-2025 academic year.
Institution Information: confirm all names listed are current, including phone numbers and email addresses. Update tuition and scholarship award to the 2024-2025 award. DO NOT leave the application deadline empty – if you do not have a date, use 8.15.2024 Leaving the box empty means your school will not appear on the list of member schools.
All schools are required to have a backup TELO. If your school does not list a backup TELO in the current system, now is an excellent time to update your records. If you add or delete any Liaison Contacts, please notify Suzanne at sleance@tuitionexchange.org and email her the name, email address, phone number, and title of any newly added liaisons, as well as the name and email address of all that you delete.
New Leadership
As previously announced, Bob Shorb is retiring. Dr. Kristin Tichenor takes the helm of Tuition Exchange effective February 19, 2024. If you wish to speak with Kristin directly, please call and leave a message on our main phone number at 301-941.1827. Please start with this message for Kristin. Janet will forward your message to Kristin for her response. If you wish to email Kristin – her email address is ktichenor@tuitionexchange.org
Contact Janet and Suzanne for TELO assistance and Kristine if you have questions regarding Dues and Participation fees. Our contact information is available on your TELO portal – clear at the bottom. Please do not share our contact information with students and their families.
In conclusion
Cheers to all of you in the new year! We appreciate your continued support for tuition reciprocity among our member institutions. With your help, we anticipate a year filled with growth, success, staying on track with the current TE portal, and excitement for a new TE system scheduled for a June 2024 launch.