Tuition Exchange (TE), a 501-c3 non-profit association of colleges and universities, was founded in 1954 with the purpose to make careers in higher education more attractive. This is achieved through a reciprocal scholarship program, which finances college tuition for dependent children of faculty and staff who are employed at member colleges and universities. Tuition Exchange has over 600 private and public, not for profit, participating institutions located in 47 states, DC, UK and UAE representing the diversity of higher education in the United States. Around fifteen schools join each year.
Exchanges are accomplished through trading students and no money changes hands.
MICA's obligation as an active member of the Tuition Exchange Program and policy is as follows:
- The exchange program is limited to dependent children of full time employees
- Eligibility for exports (those children of MICA employees) is determined by length of continuous services. Three slots will be available every fall (number of slots may vary year to year in order to maintain a balance of imports and exports) and employees will be certified (sponsored) for TE scholarships. The employee's dependent children will need to be selected by a TE participating college to receive a TE scholarship at that participating school.
- MICA has a commitment to honor all commitments made to exchange scholarships
- The Tuition Exchange Liaison is Barry Black who will coordinate the campus program and other duties such as submitting annual reports, and pay the annual dues and fee for each export (participant fee)
The employing institution certifies candidates as scholarship applicants. The receiving institution sets the number of slots and criteria for award decisions. Satisfying admissions criteria does not make awards automatic.