Tuition Exchange Inc
Tuition Exchange Scholarships are competitive. In addition to meeting the admissions requirements of the receiving (importing) institution, some participating institutions have additional requirements such as higher academic standards or limit awards to just a few new students each year.
The employee (parent) must be employed at Pace University, full-time, for a minimum of seven (7) continuous years immediately prior to September 1st of the initial scholarship year and must also be in active full-time service at that time. In addition, both schools must continue to participate in the program. An employee's children, under age 24, are eligible for this program.
Tuition Exchange Scholarships are based, or prioritized, according to years of service. Seniority will be measured from the parent's date of full-time employment at Pace University to September 1st of the scholarship year. Once the 7-year requirement has been met, previous part-time service will also count toward the calculation of seniority on the following basis: 2 years of part-time service (not including service as a student employee) will equal 1 year of full-time service.
The University Benefits office generally receives 20-25 applications from eligible Pace University faculty and staff members each academic year. The number of available scholarship opportunities ranges from 0 – 6 per academic year. Therefore, please note that even if an employee is eligible to apply for an award, he/she may not receive an award because of the limited number of scholarships available each academic year. It is possible that a student may be accepted for admission at a participating University, but not offered a tuition exchange scholarship.
Only one (1) child can participate in the Tuition Exchange, Inc. program at a time. However, an employee may have one child in the Tuition Exchange, Inc. program, and one or more children in the Council of Independent Colleges program.
Scholarships are generally awarded for four consecutive years (fall and spring semesters only), although participating institutions have the right to offer scholarships for less than four years.
Students must continue to meet the (importing) institution's standards for academic performance and personal conduct and other terms and conditions of the scholarship. The continuation of the scholarship is also dependent upon the employee’s continued full time status at Pace University.
Employees who receive a tuition exchange scholarship must submit a recertification form each fall for the upcoming academic year.
Amount of the Scholarship
Scholarships cover full tuition, or a rate set by Tuition Exchange, but not special fees, course overloads, or room and board charges.
The "Conducting a School Search" page contains information indicating which schools offer more than basic tuition. Some member institutions reduce their scholarships by the amount of federal and state grants awarded to a student, whether or not these are based on financial need.
- Each fall an e-mail notification will be sent to all full-time employees for the next academic year (for example, employees should apply in fall 2019 for the 2020-2021 academic year). The e-mail will detail the number of scholarship opportunities available. It will also contain a link to the Tuition Exchange, Inc. application form.
- All application forms must be received at the University Benefits office by the established deadline (usually mid-October). Forms received after the established deadline will be included at the end of the list, by date received, regardless of years of full-time service.
- Once eligibility has been verified, application forms will be ranked by years of full-time service as of September 1st of the initial scholarship year. Once the 7-year requirement has been met, previous part-time service will also count toward the calculation of seniority on the following basis: 2 years of part-time service (not including service as a student employee) will equal 1 year of full-time service.
- Based upon the number of scholarship opportunities available, the University Benefits office will notify those at the top of the list of eligible employees via e-mail. Applications to the schools listed on the scholarship application form will be processed online with Tuition Exchange, Inc. All other applications will be placed on a waiting list, ranked by years of service and the date that the application form was received (if the form was received after the established deadline). Wait listed applicants will also be informed of their status via e-mail.
- The importing school will send notifications to those who have applied for the scholarship. The importing school will also communicate to the applicant that he/she must apply through and be accepted via the normal Admissions channels and that decisions are typically made in mid/late spring.
- The schools listed on an employee’s application form can be change by the employee at any time. Updates must be e-mailed to the University Benefits office as soon as possible in order to ensure timely processing.
- If an employee is awarded a scholarship, but declines the opportunity (perhaps his/her child has decided to attend a school that does not participate in the Tuition Exchange, Inc. program), the University Benefits office will offer the scholarship to the next person on the waiting list.
- In all cases, the decision to award the tuition exchange scholarship is at the discretion of the importing school. Pace University and the University Benefits Department has no control over who receives the scholarship.
- The importing school is responsible for notifying all students who have applied for the tuition exchange scholarship, whether the scholarship was awarded to a particular applicant or not.
If an employee or his/her child is currently receiving a tuition exchange scholarship, either through Tuition Exchange, Inc. or through the Council of Independent Colleges (CIC), that scholarship will end as of the employee’s last day of work. The employee is responsible for communicating this information to the Financial Aid office at the importing school and for securing alternate funding to replace the tuition exchange scholarship. In addition, the employee must contact the (Pace) University Benefits office, at (914) 923-2828, to confirm that the importing school’s tuition exchange liaison officer has been notified.
Tuition Exchange Liaison Officer
The Tuition Exchange Liaison Officer for Pace University is Carolyn Ventura Lengers, Associate Director, University Benefits, Human Resources.
Please visit Tuition Exchange, Inc for additional information about the schools participating in the program.