Monmouth University offers two (2) Tuition Exchange Scholarship Programs (TESP) in which eligible employees may apply. The Tuition Exchange (TE) is a non-profit association of colleges and universities that participate in a reciprocal scholarship program. The Council of Independent Colleges Tuition Exchange Program (CIC-TEP) is an association of independent colleges and universities willing to accept tuition-free, students from families of full-time employees of other CIC-TEP institutions.
While an employee may be eligible to apply for a Tuition Exchange scholarship award through either or both of these programs, it is up to the hosting institution to make the decision of granting a scholarship award to an applicant, therefore, there is no guarantee of any scholarships on the part of Monmouth University. All applicants are required to be admitted to the school in compliance with their normal admissions requirements. The applicants will then be subject to the scholarship determination process established by each institution to which they have applied and been accepted. Each institution has its own guidelines for determining the number of scholarship awards it provides annually, and to whom those awards will be provided. Therefore, the University cannot guarantee placement of any employee’s dependent under either program. It is the responsibility of the employee to ensure that they have met all admissions and Tuition Exchange application requirements and deadlines for the institutions to which they are applying.
Should an applicant receive a Tuition Exchange scholarship award through either program, the award will cover undergraduate education tuition only, for IRS dependent children only. The actual amount of the tuition grant is determined by the host school.
The employee must remain employed as a full-time employee by the University during the time a Tuition Exchange Scholarship is being utilized. The recipient of a Tuition Exchange Scholarship (student) must be claimed as an employee’s IRS dependent on his or her most recent income tax return at the time of application. The student also must remain an IRS dependent during each year that he or she participates in the program. The student must attend school on a full-time basis.
Monmouth University employees whose child is a recipient of a Tuition Exchange Award are required to pay a fee of $250 per year to Monmouth University. The fee is payable upon acceptance of an award. Please review the Monmouth University Tuition Exchange Policy for additional details and eligibility requirements for this program. If you have additional questions regarding the Tuition Exchange Policy, please contact the Office of Human Resources.