Tuition Rewards Program at Russell Sage College and Sage College of Albany
How it works
To help make a high-quality college education financially accessible to more families, The Sage Colleges is an active participant and member in the "Tuition Rewards" scholarship program that operate like a frequent flyer rewards program- but for college tuition! Tuition Rewards points can be used to secure and guarantee any size scholarship, up to a maximum of $27,000 at The Sage Colleges, spread evenly over four years of undergraduate study, starting with freshman year.
The Tuition Rewards program, a national effort coordinated by the Philadelphia-based Savings And Growth for Education (SAGE), allows depositors and investors ("Sponsors") with affiliated banks and financial services firms ("SAGE Financial Partners") to provide tuition points ("Tuition Rewards") for designated family members ("Students") to attend The Sage Colleges and other member colleges. Tuition Reward points are normally accumulated annually based upon 5% of the value of the Sponsor's assets held at the financial partners ($20 held = 1 point = $1 tuition reduction). For example, a $100,000 bank account or investment will accumulate Tuition Points at the rate of 5,000 points per year. After five years, the Sponsor will have 25,000 points (worth a minimum scholarship of $25,000, spread equally over four years) to provide a prospective student.
A "Sponsor" (the depositor, investor, or client) must be a member of the Student's extended family, typically a parent, grandparent, aunt, uncle, or even godparent who owns the asset or investment that is earning Tuition Rewards. Sponsors are required to pre-register on the Tuition Rewards website to track and utilize the Tuition Reward Points, add students to their Tuition Rewards account, and assign Tuition Reward Points to the Students. An individual student may accumulate points from multiple sponsors (up to the maximum). An individual sponsor may provide Tuition Rewards to multiple students.
The asset or investment can be used for any purpose intended by the sponsor, such as generic savings or investments, vacation fund, retirement savings, etc. It does not need to be used for funding education. The sponsor is free to add to or subtract from the asset at any time without affecting Tuition Reward Points already earned.
There are no costs or fees for participating students, families, or sponsors.
The Tuition Reward Points represent the guaranteed minimum scholarship that an eligible full time undergraduate student will receive to attend Russell Sage College.
The Tuition Rewards scholarship is provided regardless of the income or assets of the student or the student's family.
The Sage Colleges may provide additional financial aid, depending upon student need and Sage's financial aid procedures. Potential students interested in additional financial aid should complete the procedures for this. The Tuition Rewards scholarship will be automatically included in a package with other financial aid as may be appropriate. Currently over 95% of Sage undergraduates are receiving financial aid, both merit-based and need-based.
The program's national guidelines do not allow the use of Tuition Rewards for part-time or graduate school or for any college costs other than tuition.
The Tuition Rewards are spread equally over a four-year undergraduate program. The program will be adjusted for students enrolling either in accelerated programs (for example, Russell Sage's innovative "Degree in Three" program or Sage's many combined graduate/undergraduate programs so that an equivalent amount of financial support is provided, without penalizing the student.
Students transferring to The Sage Colleges from another college may apply unused Tuition Rewards toward their Sage tuition. Sage may prorate the amount qualifying based upon remaining undergraduate years and remaining Tuition Rewards.
Sponsors can join Tuition Rewards at any time. Since reward points are earned annually (or sometimes semi-annually or quarterly), the sooner joined, the greater the accumulated points.
Sponsors may add, edit, or delete potential students in the Tuition Rewards Program at any time from the student's birth until the August 31st of the year that the student starts 11th grade. Any number of students may be registered by a single sponsor; there is no requirement as to the number of Reward Points provided or how divided.
Once registered, a student may enter and/or edit relevant personal academic information (e.g., potential areas of interest, preferred geographic areas, etc.) at any time. Some Financial Partners add Reward Points directly into the student account without additional investment by the Sponsor. Plus, the student will receive important information on planning for and selecting an appropriate college and securing financial aid.
The sponsor may transfer Tuition Reward Points to any student at any time up to the August 31st of the year that the student starts 12th grade. After that date, a student's Tuition Rewards point value cannot be changed.
The sponsor needs to submit the student's Tuition Rewards statement to The Sage Colleges at the time the student applies for admission. This is done by the sponsor by logging onto the "Account Statement" page on the Tuition Rewards website and forwarding the information to The Sage Colleges roughly concurrent with the student's application to Sage. Statements submitted after Sage has prepared a financial aid package for the student may invalidate use of Tuition Rewards.
We at The Sage Colleges are committed to making a high-quality private education affordable to all students and we encourage you to apply for admission and to review our generous and responsive financial aid programs, with or without Tuition Rewards. The results of a Sage undergraduate degree are impressive: 98% of recent Sage graduates are employed or choose to continue studies immediately after graduation. At The Sage Colleges, small classes (11:1 student/faculty ratio RSC, 12:1 student/faculty ratio SCA), distinguished faculty, and extensive internship programs provide the kind of opportunities that will lead you to real-world success.
Note: The Tuition Rewards program's national coordinator, Savings And Growth for Education (also known as SAGE), is an independent organization and is not affiliated with The Sage Colleges or with and member institution of The Sage Colleges.