There are over 400 participating colleges that offer up to one full year of tuition, divided over the course of a 4-year college plan. Points are accrued over time like a frequent flyer program.
Jay Beattey, our UA Partner, shares with us the basics about the College Scholarship Program and why it’s so attractive to family members of prospective college students.
The program works similarly to a frequent flyer program, where points are accrued. Each point in the program is equivalent to a $1 of tuition scholarship.
Children, grandchildren, nieces, nephews, and other family members can benefit. They must be registered prior to August 31st of the year during which they begin 12th grade. Family members can be registered as soon as they are born. Click this box to learn more.
There are over 400 participating private colleges and universities. Click this box to explore which colleges are currently on the list. About 20+ colleges are added to the list every year. The program is open to accredited, 4-year, not-for-profit, colleges and universities.
You accumulate points, each equal to $1, that can be assigned to each child or passed onto other younger children in the family. You get 500 points when you enroll as the "sponsor", 500 additional points for every child you enroll, another 500 points on the child’s birthday until August 31st prior to their 12th grade year.
If a student's points accumulated for college total 36,000 & that amount is equal or less than the cost of tuition during freshman year, then the amount is divided by 4, and the quarter amount is applied as a scholarship deducted from tuition (not room and board) each year. In this ex., a $9,000 scholarship would be applied during each of the 4 yrs.
For more details about Frequently Asked Questions, please see the complete list by clicking here.
Jay Beattey, our UA Partner, answers that question.
Smaller, private colleges have a difficult time competing for the student population.
They don’t have the recruiting budgets, so this program is a list-building exercise for them.
It keeps their marketing expenses down and creates a win-win for everyone involved.
After the 60 month package expires, all benefits expire EXCEPT the College Scholarship Program,
providing that you enrolled as a Sponsor through the program prior to the expiration of your 60 month package.
No, you can opt out of receiving payouts for any reason at all or you could elect to have those funds given as an automatic donation back to UA Legacy Grants and receive a tax write-off.
However, if you do choose to receive the funds, you will be provided with a 1099 at the end of the year for tax purposes.
Click the button to schedule your Legacy Grant Consultation to learn more about how UA Legacy Grants can help you benefit financially while you are helping others do the same.