The College Tuition Benefit® makes it possible for employers to provide employee's children, grandchildren, nieces and nephews with a guaranteed college scholarship. All scholarships come from a network of private colleges and universities around the nation, the SAGE Scholars' Network. 80% of colleges are ranked by U.S. News and World Report as "America's Best".
There is no cost to the employer or employee when the benefit is provided as part of the new or existing Voluntary Benefit Program. The College Tuition Benefit® can be offered alongside Voluntary Benefits from most of the nation's Voluntary Benefit insurers. Alternately, an employer can pay a small annual fee, usually $10 per eligible employee (with volume discounts available).
Would you provide each employee with a SAGE Scholarship and then increase the scholarship annually by thousands each year if it didn't cost the Company anything? Would it be easier to attract and retain employees if you could say, "At our company, while you save for retirement, we help put your children through college".
Would you prefer to work for an employer who provided the children and grandchildren of its employees with a college scholarship?
At first glance the offer of a guaranteed college scholarship seems unbelievable, but when you understand the higher education environment, you understand why we add new colleges just about every month.
Employers can choose from three plan designs. Click here to view Plan Design Illustrations.
Option 1 - Annual 5% Match of Retirement Account Balance
- Each employee receives 500 Tuition Rewards Points. A Spouse can also register to receive 500 Tuition Rewards Points, for a family total of 1,000 Tuition Rewards Points.
- The employee's initial reward grows each year by 5% of his or her retirement account balance.
Option 2 - Annual 1,000 Tuition Reward Points
- Each employee receives 1,000 Tuition Rewards at enrollment.
- Each registered student receives 500 Tuition Rewards in his or her name.
- Employee then receives 1,000 additional Rewards Points annually on an employment anniversary date chosen by the employer.
Option 3 - Birthday Plan
- Each employee receives 1,000 Tuition Rewards Points at enrollment.
- Each registered student will receive annual Tuition Rewards based on his or her date of birth.