What are Tuition Reward Points?
Tuition Rewards, provided by ACES, is a unique private college savings program. Tuition Reward Points are like frequent flyer miles – but for college tuition!
Tuition Rewards are discounts off tuition at participating private colleges and universities. The Tuition Reward Points represent the minimum scholarship that an eligible student will receive if and when he or she attends a member school. Schools may count Tuition Rewards as part of their normal institutional and merit scholarships. For example, if a student has 10,000 Tuition Reward Points, he or she is guaranteed to receive a minimum scholarship of $10,000 (spread equally over four years) at a member school.
Sponsors – the Account Holders
Throughout our website and documentation we frequently use the term “Sponsor”. A “Sponsor” is typically the parent, grandparent, aunt or uncle who is the owner of the Tuition Rewards account or of the investment that is earning Tuition Rewards. Sponsors are required to register on our website (via ACES Nation) to be able to track and utilize the Tuition Reward Points. Sponsors are responsible for adding students (beneficiaries) to their Tuition Rewards account, assigning Tuition Reward Points to their students, and submitting Tuition Reward Points to member colleges and universities.
Earning Tuition Reward Points
Typically, you will earn Tuition Rewards by being a member or a participant of an organization (i.e. club, team, camp, school, etc.) that is partnered with ACES to provide Tuition Rewards as a member/participant benefit. Other ways to earn Tuition Rewards may include doing college financial planning with the ACES financial partner, Game Changers Planning Network.
Using Tuition Reward Points
Each Tuition Rewards Point equals one dollar in guaranteed scholarships at a member school. If a student receives 10,000 Tuition Reward Points he or she is guaranteed to receive scholarships and other discounts of at least $10,000, spread evenly over four years ($2,500 per year).
Through ACES, Tuition Reward Points are typically earned by the “Sponsor” (parent, grandparent etc.) and credited to the Sponsor’s Student account. It is up to the Sponsor to assign some or all of their Tuition Reward Points to student(s) listed on their account via the “Redemption Code” provided by ACES. Tuition Reward Points must be assigned to a student by August 31st between the student’s junior and senior years in high school (August 31st of the year prior to high school graduation). After that date, a student’s Tuition Rewards account value cannot be changed!
When a participating student applies to a participating school, the student’s Sponsor needs to submit the student’s Tuition Rewards statement to that school. This is done by the sponsor by logging you’re your designated partner/affiliate website and going to the “Account Statement” page. Tuition Rewards Statements must be submitted to member colleges and universities at the time of application. Statements submitted after an institution has prepared a financial aid package for the student may invalidate the Tuition Rewards.
The use of Tuition Rewards is limited to full-time, undergraduate tuition at participating colleges. Tuition Rewards are remitted solely as a reduction to the participating college’s full tuition bill — and NOT awarded in cash. Colleges reserve the right to use the tuition reduction as part of, or separate from, any financial aid packages. Member schools are not required to accept Tuition Rewards on transfer students.
If a student does not use his/her Tuition Reduction Reward — for example, if the student selects a non-participating college — the reward can be rolled back into the sponsors Tuition Rewards account or transferred to a different eligible student. Students have three years from the date of high school graduation to begin use of the Tuition Rewards. All Tuition Rewards assigned to a student will expire three years past that student’s listed date of high school graduation.
If a student enrolls in a college that is not participating in this program — but subsequently decides to participate — the college is under no obligation to honor his or her Tuition Rewards. If any college should decide to discontinue participation in this program, it has agreed to honor rewards accumulated for any student prior to the last day of the college’s participation.
For student-specific rewards (such as the Pennsylvania 529 College Savings Program), students will not earn Tuition Rewards after age 17, or after August 31st of the year prior to high school graduation – whichever comes first.
Students may be sponsored and receive Tuition Reward Points from multiple sponsors (ex: parents & grandparents,). A sponsor designates the Tuition Reward Points to students before August 31st between the student’s junior and senior years in high school. A sponsor may provide Tuition Rewards to children, grandchildren, nieces, and nephews.
Students are eligible to be added to the ACES and enrolled in the Tuition Rewards Program from birth until the beginning of their junior year in high school (August 31st between the sophomore and junior years in high school is the cut-off date).
Communication with Colleges
Participating colleges may send information to high school students and their families enrolled in this Tuition Rewards program — enabling colleges to communicate to members who fit the college’s student profile.
College Admission & Transfers
Our college list keeps growing, giving your child a larger number of schools to choose from. Rewards can only be used at participating colleges. Students do NOT need to pick a particular college now — that’s one beauty of this program. However, students must apply and be accepted through a participating colleges’ normal admissions procedures to qualify for the reward. An ACES Nation membership is not considered in the admissions process.
If students transfer from one participating college to another, the college accepting the student has the right to decide whether it will honor any unused Tuition Rewards. If your child is a participating member, but does not attend a participating college, you may have to pay “list price” for a college education. Being part of our unique college savings program will put you closer to meeting your financial goals.
In all ways, this program will help you save for college!
*ACES Tuition Rewards is provided, administered and managed in conjunction with Game Changers Planning Network and SAGE Scholars.
** Some schools have a limit that may be less than 25% of the cost of tuition. Maximum Tuition Rewards available from ACES for any student is currently four thousand (4,000) points annually and is limited to twenty thousand (20,000) points over a lifetime.
-You can view a complete list of member schools, along with the maximum amount each school will accept, after logging in to your account. To view an interactive map showing the Participating Schools, please click here.