When do I apply on my child’s behalf?
Start in the fall of his or her senior year of high school, as soon as the admissions application has been sent.
How do I apply?
Click the link for the Tution Exchange Application and save the file on your drive renaming it as lastname_firstname_year_teapp.doc
Complete the form and email it to email@example.com
What happens next?
The TE Liaison will use your application form to create a formal application to be sent to the other school’s liaison. Then we wait while the other school’s liaison processes the form according to their rules and procedures.
The application form uses the expression, “qualifying child per IRS rules”. What does this mean?
According to the IRS…
In general, to be a taxpayer’s qualifying child, a person must satisfy four tests:
Relationship — the taxpayer’s child or stepchild (whether by blood or adoption), foster child, sibling or stepsibling, or a descendant of one of these.
Residence — has the same principal residence as the taxpayer for more than half the tax year. Exceptions apply, in certain cases, for children of divorced or separated parents, kidnapped children, temporary absences, and for children who were born or died during the year.
Age — must be under the age of 19 at the end of the tax year, or under the age of 24 if a full-time student for at least five months of the year, or be permanently and totally disabled at any time during the year.
Support — did not provide more than one-half of his/her own support for the year.
Does my child have to already be accepted to the college before applying for a TE Scholarship?
No, he or she must have applied for admission before we send the scholarship app, but does not need to have been accepted yet.
Is there an application deadline?
Possibly. CIC-TEP uses April 1 as the suggested deadline.
TE, INC. schools list their deadlines and acceptance rates here: http://www.tuitionexchange.org/vnews/display.v/SEC/Families|School%20Search
Can my child apply for scholarships in both programs?
If you are a qualified YCP employee your dependent may apply for both TE, Inc. & CIC-TEP Scholarships. If you are a qualified YCDS employee your dependent may only apply for CIC-TEP Scholarships.
Why is there a three year waiting period before allowing full-time YCP employees to participate in the TE, Inc. program?
It is due to the import/export student balance requirement TE, Inc. imposes. Without the waiting period, we would probably run out of spots and have to limit the number of scholarships.
Is there a limit to the number of exchange schools to which my child can apply?
No. The only limit is your ability to pay multiple admission application fees.
Is there a fee for applying for an exchange scholarship?
There is no fee to the applicant. YCP pays member dues and/or fees per applicant but no cost is passed along to you... yet.
My kid can't make up his/her mind or is REALLY procrastinating when it comes to filling out admission apps. Can I send you the name of one or two schools and later add more schools?
You can do that, however it is MUCH EASIER for the liaison to submit ALL of your scholarship applications at one time, therefore you can list all the schools on your TE app at once with anticipated mailing dates for admission apps if the app has not been completed yet.
We listed a college on your form, but now my child has decided not to apply there. No harm, no foul, right?
As soon as your child decides not to apply to a previously listed school, please inform the liaison so the scholarship app can be withdrawn. This prevents the other school from having to track your child’s app as an active file.
My kid doesn't like any of the 600+ member schools and insists upon attending a non-member school. Can you negotiate a scholarship for her?
No. We are limited to the member schools only.
Is the exchange scholarship guaranteed for all four years?
Normally the scholarships automatically roll over from one year to the next. There are exceptions to that rule, see next QUESTION, and you must reapply each year to confirm continued eligibility as an employee.
Can my child's scholarship be taken away?
Yes. If you end your full-time employment (for reasons other than retirement or death) with YCP or YCDS, the scholarship will be revoked at the start of the next semester. If your child gets into academic trouble or drops to part-time status, the scholarship may be revoked. If your child pursues a program not covered by the exchange, like study abroad, the scholarship may be revoked or put on hold.
Does the scholarship value change?
CIC-TEP Scholarships always cover full-tuition even when tuition is raised. TE, Inc. Scholarships typically increase each year; in recent years they increased by $500 per year.
What criteria are used to determine if my child will receive a scholarship offer?
The criteria vary from school to school and they are not typically published. Some schools base their offers on grades, others use a first-come/first-served rule, still others offer to everyone who qualifies for admission.
Does YCP actually send the tuition payment to my child’s school?
No. CIC-TEP and TE, INC. scholarships are basically courtesy tuition waivers. No real money changes hands, and the scholarships are typically unfunded. The only costs to YCP are annual membership fees and small participation fee per student.
If my child is awarded an exchange scholarship, I don't have to fill out all of those annoying grant forms and such, right?
Wrong. Each school is different but you will probably still need to fill out all of the financial aid forms. Exchange scholarships are not funded, and therefore other grants may be used to offset a portion of the scholarship.
My child received other scholarship offers in addition to TE. Can we apply them to other expenses like room, board, books?
The answer is "maybe"... you will need to check with the other school's financial aid office. Typically, other grants are not added on top of the exchange scholarship, but instead are used to offset a portion of the cost of the exchange scholarship.
Is this exchange scholarship taxable?
According to the IRS:
Topic 421 - Scholarship and Fellowship Grants
A scholarship is generally an amount paid or allowed to a student at an educational institution for the purpose of study. A fellowship is generally an amount paid to an individual for the purpose of research.
If you receive a scholarship or fellowship grant, all or part of the amounts you receive may be tax-free.
Qualified scholarship and fellowship grants are treated as tax-free amounts if the following conditions are met:
You must include in gross income amounts used for incidental expenses, such as room and board, travel, and optional equipment, and generally amounts received as payments for teaching, research, or other services required as a condition for receiving the scholarship or fellowship grant. Also you must include in income any part of the scholarship or fellowship that represents payments for services. Generally when reporting scholarship income on your tax return, you will include the amounts on the same line as “Wages, salaries, tips, etc.” Review the instructions of your tax form to determine how to report any income from scholarships.
However, you do not need to include in gross income any amounts you receive for services that are required by the National Health Service Corps Scholarship Program or the Armed Forces Health Professions Scholarship and Financial Assistance Program.
If any part of your scholarship or fellowship grant is taxable, you may have to make estimated tax payments. For more information refer to Publication 970, Tax Benefits for Education.
Can my spouse or I apply for an exchange scholarship?
No, York College of PA limits the program to dependent children (IRS definition) only.
My child wants to study abroad. Can an exchange scholarship be used for that?
Maybe... we have to ask the school being attended.
My child wants to attend grad school. Can an exchange scholarship be used for that?
There are some member schools who allow use for grad school but they are few in number. Your child can only use the exchange for a maximum of 8 full-time semesters of study and only while legally listed as your dependent.
I have 12 kids. Can all of my children use the exchange program?
Yes, as long as our program status is still good. Their scholarships can even overlap. However, they might not all receive scholarships at the same school.
I'm divorced and share custody. Can my child use the exchange?
Possibly. If the child is your biological child or if you declare the child on your taxes as a dependent, you qualify.
I recently remarried. Is my new spouse's child eligible?
Possibly. If you declare the child on your taxes as a dependent, you qualify.