What makes an employee eligible for their dependent child to apply?
An eligible employee is a current faculty or professional staff member who prior to the first day of classes for the term for which Tuition Exchange benefits are sought, is in a full-time position and has served a minimum of seven years of full-time employment at Drexel or DUCOM.
How is "dependent" defined?
An eligible dependent child is:
- born to the Drexel/DUCOM employee,
- adopted by the Drexel/DUCOM employee, or
- that have the Drexel/DUCOM employee as legal guardian prior to the commencement of the academic year
How many years can I receive the benefit?
The benefit is available (for undergraduate students) for a total of four years (or eight semesters). Students must meet the importing institution's published standards to continue the benefit.
Are the awards guaranteed for all four years?
The award is renewable each year provided the student remains in good academic and social standing. Both the exporting institution and Drexel/DUCOM must continue to participate in Tuition Exchange during the subsequent eight semesters. In addition, the family member whose employment conveyed eligibility for a scholarship must continue to meet the exporting Drexel/DUCOM’s eligibility criteria.
Is a scholarship guaranteed to all eligible applicants?
No. Family members eligible for Tuition Exchange Scholarships are not guaranteed an award.
Scholarships are not fringe benefits; they are competitive awards. Even if you and your family are eligible to apply for an award, you may not receive an award because each institution is obligated to maintain a balance between students sent on the exchange (exports) and students received on the exchange (imports).
How competitive is the admissions process?
Tuition Exchange Scholarships are competitive. In addition to meeting the admissions requirements of the receiving institution, some member institutions have established additional requirements such as higher entrance standards or limit awards to just a few new students each year.
Does being a Tuition Exchange Program recipient guarantee (or affect) my admission to the college?
The benefit should have no effect on admission to the college.
What happens to my benefit if my parent becomes ineligible for the benefit in the middle of a term?
In the event the employee loses eligibility in the middle of a term the benefit will cease at the end of the term.
Should I apply for college admission before, after, or simultaneously with applying for the Tuition Exchange Program benefit?
Students should apply for college admission simultaneously with applying for the Tuition Exchange Program benefit.
Is the Tuition Exchange Program benefit taxable?
The Tuition Exchange Program benefit itself is not taxable. However, Federal tax law requires that scholarships or grants which exceed the cost of tuition, fees, and books such as scholarship for room or board are taxable. For more information please consult your tax advisor.
What happens to the other types of financial aid that I receive?
The complex nature of financial aid programs requires that many factors be taken into consideration. If the aid program is specific to tuition, the student may not obtain additional money (since Tuition Exchange Program covers full tuition). If however, the aid can be used for other educational expenses, it is at the discretion of the college to allow the additional aid to offset the Tuition Exchange Program benefit or to be in addition to the Tuition Exchange Program benefit.
I was told I am eligible for the Tuition Exchange Program benefit. Should I expect something in writing from the host institution?
Yes, you should expect a formal letter from the "importing" institution which outlines the value of the benefit and any terms and conditions for receipt and/or continuation of the benefit.
How many awards are there?
Drexel University will award up to eight awards to dependents of Drexel full-time employees who wish to attend institutions other than Drexel University that participate in the Tuition Exchange program. The number of awards is divided between four faculty members and four professional staff members, totaling eight candidates for each new academic year. In addition, up to eight awards will be offered to children of employees from Tuition Exchange Institutions wishing to attend Drexel University.
How much is the award?
Drexel offers the minimum amount set by the Tuition Exchange organization, which is the lesser of full tuition or $33,000 for the 2015-2016 academic year. The student is responsible for tuition above the $33,000 cut off.