Tuition Exchange Policy
The Drexel University Tuition Exchange Program provides eligible dependents of eligible full-time Faculty and full-time Professional Staff members with the ability to swap access to scholarships with participating Tuition Exchange Program institutions. Due to the limited number of Drexel Tuition Exchange Program scholarships each academic year (not to exceed eight), not all Drexel Tuition Exchange Program applications will result in certification to apply for a Tuition Exchange Program award at an exchange institution. The number of awards is divided between four faculty members and four professional staff members, totaling eight candidates for each new academic year. The selection process is based on employees’ seniority level of a minimum of seven years. Tuition Exchange is not a Drexel benefit which is automatically awarded. Tuition Exchange is a competitive scholarship program for which children of eligible Drexel employees may compete.
Drexel Tuition Exchange scholarships to participating Tuition Exchange Program institutions may cover full tuition at a four-year undergraduate program. For students entering a college or university for academic year 2014-2015, the award will be $32,500 or the cost of full tuition, whichever is less. For institutions with tuition greater than $32,500, Tuition Exchange awards will be less than full tuition. Any difference between the Drexel Tuition Exchange Program scholarship and actual tuition, plus costs for room and board and any other fees, must be paid by the student's family or covered by other sources, if eligible and available. For each eligible student, Drexel Tuition Exchange Program scholarship awards will not exceed a maximum of eight (8) semester units or the completion of the baccalaureate degree, whichever comes first.
Drexel Tuition Exchange Program scholarships are not given for graduate or professional study, non-degree study, study abroad or work toward a second undergraduate degree. Summer session programs are also excluded from this scholarship. Drexel Tuition Exchange Program scholarship recipients must remain in good personal, academic and financial standing with the institutions they are attending. If the recipient does not meet these standards, then the Drexel Tuition Exchange Program scholarship will be withdrawn.
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.
In the event that an employee ceases to be employed by the University while their dependent is receiving the Drexel Tuition Exchange Program scholarship, the student will be permitted to complete the academic year but at the conclusion of that academic year, will no longer receive a Drexel Tuition Exchange Program scholarship.
Dependent children of Faculty and Professional Staff members who served at the University for a minimum of seven years and die while employed at the University shall be eligible for the Tuition Exchange Scholarship for a maximum of eight (8) semester units or the completion of the baccalaureate degree, whichever comes first. To be eligible, dependent children of deceased employees must have 1) begun their course work before the employee's death, or 2) officially enrolled at the exporting University at the time of the employee's death.
If the employee should become ineligible or the student withdraws from the participating Tuition Exchange Program institution while the student is receiving the Drexel Tuition Exchange Program scholarship, the student must inform the Drexel Tuition Exchange Program Liaison Officer within 30 days. Failure to notify the Drexel Tuition Exchange Liaison Officer within 30 days may result in permanent forfeiture of the scholarship.
If both parents and/or guardians are Drexel Faculty members, those persons may not combine their years of service.1 However, each Faculty member retains his/her right to independently participate in the Drexel Tuition Exchange Program.
The maximum number of eligible dependents per Drexel employee is two. Recipients for the Tuition Exchange Program scholarship will not be eligible for a grant-in-aid or tuition remission from Drexel University while they hold Tuition Exchange Program scholarships.
Although the Drexel Tuition Exchange scholarship is given with the intention that the student will hold the award for eight (8) semesters, the student's eligibility must be re-certified by the Drexel Office of Human Resources each academic year. The student must pay an annual $35 processing fee for each re-certification and no later than January 30th of each year; submit the Re-certification and Renewal Form to the Host Institution. The student must also confirm with the Drexel Liaison Officer that the notification has been sent.
Drexel University and the Tuition Exchange Program reserve the right to modify or terminate this program at any time.
1Approved sabbaticals and approved leaves of absence will be counted toward years of employment.