Tuition Exchange, Inc. is a non-profit association of more than 600 colleges and universities of which Puget Sound has been a member since 1954. This association enables a reciprocal scholarship program among participating institutions. The employing institution certifies eligibility and the receiving institution determines the number and criteria for award decisions. Dependent children of a faculty/staff member who meets eligibility requirements defined in the Education Benefits Policy may apply for TE Exchange scholarships. Please note that tuition exchange scholarships are subject to exchange program balances and are not guaranteed.
Are there limits on the number of scholarships available through the TE Exchange?
Yes, scholarships under this program are subject to exchange balances and there can be more applications to some schools than the number of scholarships available. As indicated on the TE Exchange website, “Tuition Exchange Scholarships are competitive and are not guaranteed.” Each participating institution determines how many scholarships they will award each year.
Participating institutions are obligated under the agreement to maintain a balance between students sent and received as part of the exchange program. Member institutions are restricted from offering new scholarships to dependents of Puget Sound faculty and staff if the number of students sent exceeds the number received by 2-to-1 over a five-year period. For example, over the course of five years, 20 Puget Sound dependents can receive scholarships at participating colleges (exports), as long as Puget Sound provides scholarships to at least 10 dependents from other participating colleges (imports).
If a dependent child applies for a scholarship through the TE Exchange, is it certain that he/she will receive a scholarship if admitted?
No, the receiving institution may limit the number of scholarships in any given year as they manage their exchange balances and their budgets. As indicated on the TE Exchange website, “Tuition Exchange Scholarships are competitive and are not guaranteed.” The receiving institution (i.e. the institution your child applies to) sets the number of scholarships to be granted in any given year and the criteria for their award decisions. These scholarships are competitive awards. As such, dependent children are not guaranteed an award. The probability of receiving an award varies by institution; there is helpful information on the TE Exchange website about participating institutions’ percentage of award offers made to TE Exchange candidates. TE Exchange scholarships, if granted, may be limited to fewer than eight semesters of support, or limited to freshmen or some other classification of student. The amount of scholarship might be less than full tuition. The scholarship amount, established by TE Exchange as the minimum scholarship for high-tuition institutions (such as Puget Sound), is $32,500 in 2014-15, $33,000 in 2015-16 and will be $34,000 in 2016-17.
For more information and a full list of participating colleges, please visit the National Tuition Exchange (TE) website.