The House and Senate passed the Tax Cuts and Jobs Act. President Trump signed the bill 12.22.2017. While initially there was angst for higher education, the final version experienced many revisions. Below outline the positive outcomes.
1. The bill retains tax-exempt tuition opportunities for employee dependents, including the spouse.
2. Graduate student tuition waivers will not be subject to tax.
3. Employer-provided tuition assistance will not be considered income and as such, will not be taxable.
If you have additional questions, please contact your Tuition Exchange Liaison Officer.
When completing the EZ application be sure to understand you MUST provide the name of your employer. If you do not find your EMPLOYER listed, you need to contact your employer for next steps. DO NOT use the EZ application to apply for Tuition Remission.
To insure you are considered for Tuition Exchange/FACHEX scholarship consideration take a few minutes to review the Guide. A nine minute podcast is embedded in the Guide. It will be nine minutes well spent and may mean the difference between completing a successful tuition assistance application and none at all.
Tuition Exchange Central is unable to provide information on individual school requirements and guidelines. Families interested in the exploring what options might be available must start with your Tuition Exchange Liaison Officer (TELO). Not sure who your TELO is - Click here to access the TELO search option
The TE application process begins with your employer. The Export school determines who is eligible for Tuition Exchange consideration and ultimately being offered the opportunity for Export. When your dependent is approved as an export, there is still the process of being named an awarded Import.
For the Import school to consider the approved Export student as a potential Import, it is important that the student makes application to the school(s) where the TE import applications are submitted.
Many schools require the Free Application for Federal Student Aid (FAFSA) be submitted. The FAFSA form is using tax return data already on file. In other words going forward, the FAFSA information is processed from prior-prior year tax returns. The Early FAFSA option means your family can complete the FAFSA in October; virtually at the same time, the student is applying to colleges.
Tuition Exchange provides a limited amount of information that is self-reported by the Tuition Exchange school. This information is available by clicking here. If you have specific questions, please visit directly with your student’s Admissions Counselor.
The Tuition Exchange award is tuition OR the annual set-rate. For 2017-18, the set-rate is $35,000. Schools with tuition greater than $35,000 have the option to provide $35,000*. The TE award can be made up of any institutional funds, academic, athletic, or other school grants. It is important for the family to ask the question of your Admissions Counselor. Tuition Exchange Central is unable to help explain how the TE award is funded.
Thank you for exploring Tuition Exchange options. Your TELO is where it all begins.
* It is important to ask your IMPORT TELO the value of the TELO award at the Import school. TE provides flexibility to our schools. Each school, with tuition less than the Annual Set Rate, is obligated to provide full tuition. Full tuition may include federal, state, and institutional grants and scholarships. Member schools with tuition greater than the Annual Set Rate are obligated to provide at least the Set-Rate. Some schools offer additional funding that may not equate to full tuition. TE is proud of all our members and their flexibility.
The Tuition Exchange website has a variety of useful search options for students and parents looking for Tuition Exchange member schools. Please make use of the tools available to you.
Please note, TE Central is unable to answer school specific questions or provide assistance to those considering employment at a TE member school. You will need to contact the TE Liaison Officer at your school of employment or Human Resources if you are job seeking. Thank you.
Not sure what Tuition Exchange is or if your family is eligible? If you work at one of our more than 660 colleges and universities your are encouraged to take the time to listen to this informative webcast. While it will not answer questions specific to your employer school, it does cover most of the basic questions.
PLEASE BE AWARE: Each school has its own guidelines.
Please do not assume you are eligible - contact your TE Liaison Officer where you work for specific information about your employer's guidelines.
Click here to access the 50 minute Tuition Exchange developed webinar. In order to view this webinar, you are required to register. Tuition Exchange does not retain email for purposes of marketing or sharing.
Once you complete the webinar and you have additional eligibility questions, contact your Tuition Exchange Officer. Not sure who to call... Click here to access the TE search function.
Tuition Exchange (TE) is a reciprocal scholarship opportunity for the dependents of eligible faculty and staff at all 672 + member schools.
A complete listing of TE schools and TELO email addresses is available online at www.tuitionexchange.org in the Family bucket under the Member Schools tab.
TE is available to eligible employees at member schools. Eligible employees are defined by the employee’s school. Tuition Exchange should not be construed as a guaranteed employee benefit.
The school defines the beneficiary dependent. This can include the employee, spouse, partner, and children of the employee. Check with your employer.
TE can be a competitive award process. Applicants need to inquire about individual TE application dates and processes.
The value of the TE scholarship is tuition or the annual set rate. Be aware that TE funding may include federal and state grant dollars, as well as any institutional scholarships, co-curricular awards and/or institutional grants.
Each TE school appoints a Tuition Exchange Liaison Officer (TELO). TELO’s are responsible for submitting qualifying applications. Check with your TELO for your employer’s TE application process.
Interested TE students should coordinate their TE application and school admission process when requesting your TELO to submit the TE application.
Applicants need to check with the attending school for any additional requirements. Requirements can include filing the FAFSA annually, a minimum grade point average and living on campus.
The TELO is your institutional contact at both your home institution and the host institution(s) where you are applying.
Glossary of Admission Plans
Binding for the student and for the college
Could be advantageous for the appropriate candidate at a specific school
Deadlines usually November 1 or 15
Some colleges are filling close to half of the class early
Could be less appropriate for students with rising records, but not always the case
No ability to compare financial aid, but early offers are generally quite appropriate
EARLY DECISION II:
Binding agreement for student and college
Deadline usually January 1
File all applications to all colleges on the list
If admitted early by February, all other applications need to be withdrawn
Offered mostly by smaller colleges and a few others
Not binding for either party
Student has until May 1 to decide
Can be harder to get in Early Action than Regular Decision at most institutions
Not many colleges offer this plan
RESTRICTIVE EARLY ACTION:
Same as Early Action except student is allowed to file only one early application
Apply anytime after junior year in high school
Advantageous to apply early in the fall in most cases
Decision is non-binding
Offered mostly by a number of state universities and a few privates
Apply to a number of colleges with varying selectivity and no restrictions
Deadlines vary, but many are January 1 or 15
Decisions arrive in early April
Financial aid packages can be compared if students apply regular decision
Other useful website resources
College Board explains early decision
Your best resource for any Admission decisions and questions is your admission counselor at the school(s) you plan to attend. Don't be shy. Ask the questions and get the best answer for your situation.
Finding the right college fit can feel overwhelming. It is important to have a roadmap, but before you can develop the map you need to know a few things about where you want to land. The following websites should prove helpful! This is by no means a complete listing but ones that TE Central feels are valuable.
The College Navigator is created and supported by The National Center for Education Statistics (NCES). NCES is the primary federal entity for collecting and analyzing data related to education in the U.S. and other nations. NCES is located within the U.S. Department of Education and the Institute of Education Sciences. NCES fulfills a Congressional mandate to collect, collate, analyze, and report complete statistics on the condition of American education; conduct and publish reports; and review and report on education activities internationally.
The Free Application for Federal Student Aid - aka FAFSA is the application to complete when seeking federal and state financial aid funding options. Federal Student Aid, a part of the U.S. Department of Education, is the largest provider of student financial aid in the nation. At the office of Federal Student Aid, our 1,200 employees help make a college education possible for every dedicated mind by providing more than $150 billion in federal grants, loans, and work-study funds each year to more than 15 million students paying for college or career school. We are proud to sponsor millions of American minds pursuing their educational dreams.
Be prepared for college - Students, “college prep” is about more than the classes that you take. It’s also about developing the skills that will help you succeed in college and life. For instance, as you balance studying and having fun, you’ll be practicing time management; and as you save for college, you’ll be learning money management. Our checklists suggest these and many other steps you can take, as well as websites you can explore, as you prepare academically and financially for college.
Cost of school considerations - The cost of college can include a variety of items including some you might not expect. By understanding college costs, you can compare schools and explore options in a more equitable fashion.
Tuition Exchange Membership listing – Today Tuition Exchange membership numbers are more than 672 schools strong. There is a school fit for everyone. If you or your parent is employed at one of our schools, visit with the Tuition Exchange Officer soon to find out more.
Guided Path - GuidedPath is a product of MyCCA Corporation, which has been the leader in college planning solutions, having helped over 1,500 college advisor and 50,000 plus students worldwide to navigate college planning and applications successfully. This comprehensive fee-based product helps students find their best college fit in an online environment.
Want a simple checklist?
CLICK HERE for what you need to know about your Export (home) TE school.
CLICK HERE for what you need to consider when considering Import TE schools.
If you are considering applying at a TE school in order to receive TE opportunities for your dependents OR switching jobs to another TE school, please understand there are often times requirements for years of service and in some cases the type of employment you are seeking makes a difference. For example, adjunct faculty generally do not qualify. Many schools contract their food service and maintenance services. In these cases, you are typically not considered an employee of the college.
Tuition Exchange Central is unable to provide you with answers or guidance regarding employment decisions. Please contact Human Resources at the school where you are seeking employment. They are your best resource.
If you find yourself no longer employed by the school, you are typically no longer eligible for TE opportunities. If in doubt, contact your Tuition Exchange Liaison Officer at the school where you were employed.
In order to be eligible to apply for Tuition Exchange scholarships, the student must be the dependent of an eligible employee at one of the 672 plus member schools. If you or an immediate family member is not an employee of an eligible TE school - you do not qualify for Tuition Exchange. For unique dependency questions - visit with your employer about your individual situation. TE Central is not able to help you qualify or respond to dependency questions - only your home TELO can.
If you or an immediate family is an employee of an eligible TE school please visit with your Tuition Exchange Liaison Officer (TELO). To find your TELO click here. The TELO is the best place for EXPORT information.
Thank you for your interest in Tuition Exchange.
Through The Tuition Exchange, member colleges and universities offered in the 2015-16 academic year roughly 7,000 scholarship awards. Each member school sets its own policies and procedures for determining eligibility and requirements for scholarships. That’s why it’s important to work closely with the Tuition Exchange Liaison Officer (TELO) at the institution that employs you.
Not sure who your TELO is...you can find the most current information online inside the TE website - Families tab - membership search. Select the first option - Find my TELO.
Review the following for answers to the most common questions about the scholarship award process. For details specific to your school, talk with your TELO.
Who is eligible?
Are all eligible students guaranteed a scholarship?
How competitive is the award process?
Tuition Exchange scholarships are competitive. Of course, you will need to meet the school’s admission requirements and applicable deadlines. Some member schools have additional requirements for exchange applicants, such as higher academic standards; others limit awards to just a few new students each year. You can increase your odds of receiving a scholarship if you apply to one or two schools that offer awards to a large percentage of applicants. To find out the award percentage for a particular school, Visit the TE School Section option
At what point in the scholarship application process should I apply for admission to the colleges I select?
What is the application process?
Should I expect written notification?
How many semesters does the scholarship cover?
What must I do to retain my scholarship?
What happens if the employee loses eligibility?
What is the dollar value of Tuition Exchange scholarships?
Are Tuition Exchange scholarships taxable?
Excerpts from Publication 970: “Qualified tuition reduction means a tax-free reduction in tuition provided by an eligible educational institution.” ... “for education below the graduate level” ...“provided to the following individuals: “current employee, former employee who retired or left on disability, widow or widower of an individual who died while an employee, a widow or widower of a former employee who retired or left on disability, a dependent child or spouse of any person listed above.”
It is important to note that graduate education is excluded unless it is provided “to a graduate student who performs teaching or research activities” and the tuition reduction benefit “must not discriminate in favor of owners, officers, or highly compensated employees.”
What is the role of Tuition Exchange in the process?