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The Tuition Exchange. Is the Tuition Exchange Right for UVI?. What is the Tuition Exchange. The Tuition Exchange is a non-profit association of colleges and universities that was founded 56 years ago with the mission to make careers in higher education more attractive.
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The Tuition Exchange Is the Tuition Exchange Right for UVI?
What is the Tuition Exchange • The Tuition Exchange is a non-profit association of colleges and universities that was founded 56 years ago with the mission to make careers in higher education more attractive. • They do this through a reciprocal scholarship program, which finances college tuition for the children and other family members of faculty and staff employed at participating institutions.
Tuition Exchange Members • Currently made up of 586 private and public participating institutions located in 47 states, DC and UK representing the diversity of higher education in the US. • Fifteen to 25 schools join each year
Sampling of TE Members: • Fresno St (CA), Mills College (CA), Biola (CA), Pepperdine U. (CA), U of Delaware, Wesley College (DE), American U (DC), U of Florida, Eckerd College (FL), Monmouth College (IL), Valparaiso U (IN), Cornell College (IA), Loyola College (MD), Boston U (MA), Seton Hall U (NJ), Manhattan College (NY), St John’s College (NY), Elon College (NC), Charleston Southern U (SC), U of St Thomas (TX), Bennington College (VT), U of Richmond (VI), Gonzaga U (WA)
Tuition Exchange Scholarships • 4,800 awards annually at full tuition or a set rate ($25,000 for 2007-2008 and $26,800 for 2008-2009) if an institution's tuition is higher than this rate. Average scholarship is about $21,000. • Exchanges are accomplished through trading, no money changes hands and no accounting is done for variations in tuition.
Tuition Exchange Compatibility • Remitted tuition exchanges are an extension of "at home" tuition waivers. • UVI’s current tuition remission policy qualifies us to join. • The number of students exported and imported should balance (approximately) over a five year period.
Tuition Exchange Costs • Membership Annual Dues $400 (paid by institution) • Student Participation Fees $35 per export (typically paid via user fee) • One-time Initiation Fee $350 • Requires a UVI liaison officer to administer the program (typically less than 2 weeks/semester) • Dues and fees increased periodically, not annually.
Tuition Exchange Benefits • Attract and retain highly qualified faculty and staff. • Increase employee retention • Increased opportunities for our children • FAFSA contributions offset tuition costs of imported students (UVI would recoup more of the tuition costs). • The VI territory benefits when students return with a broader educational experience.
