Eligibility

Who is Eligible

The Fund reimburses tuition for enrollment in Eligible Programs. For tuition at a college, university, or community college, reimbursement is limited to undergraduate study and excludes graduate or professional school. The Board retains full discretion to interpret these rules and to approve exceptions.

  • Accredited colleges and universities, community colleges, and accredited or otherwise approved career or technical training providers.

  • Beneficiaries named in the Trust Agreement and any future beneficiaries added to the families, whether through birth or adoption.

  • Limited to tuition. Fees, books, supplies, housing, travel, and equipment are excluded unless the Board approves an exception. Eligible undergraduate tuition may include college-level coursework taken while the student is still in high school, such as dual-enrollment coursework or a class taken at a community college. Eligible expenses do not include high-school-level courses that may carry college credit, such as Advanced Placement courses.

  • The Fund reimburses undergraduate study only. Graduate and professional programs, including law, medical, dental, pharmacy, and similar programs, are not eligible.

Reimbursement Calculation

Reimbursement is based on the student’s documented academic performance during the reimbursement period. It is calculated on tuition actually charged, net of refunds, credits, and any scholarships or grants applied to tuition, and is subject to the cap in Section 9.

  • Grade A: 100% of eligible tuition for the course(s) reimbursed.

  • Grade B: 80% of eligible tuition for the course(s) reimbursed.

  • Below B: 0% reimbursement.

If a reimbursement period includes multiple courses with different grades, the Board may either (a) calculate reimbursement by course if tuition is itemized by course, or (b) use a documented proportional method if tuition is billed as a single amount for the period. The Board shall apply its chosen method consistently to similarly situated applicants unless it documents an exception.

Reimbursement Cap

Total reimbursement for any student during a 12-month period shall not exceed 150% of the average annual tuition at American colleges and universities, as determined each year by the Board using a documented Tuition-Average Reference.

  • Each year, the Board shall record in meeting minutes or a written resolution the dollar amount used as the average annual tuition and the source for that figure.

  • The Board should specify whether the reference uses tuition and required fees only and whether it reflects a public, private, or combined national average.

  • May include, for example, National Center for Education Statistics (NCES) tuition or price indicators and College Board Trends in College Pricing tuition and fee averages.

  • If a calculated reimbursement would cause the student to exceed the annual cap, the reimbursement shall be reduced to the remaining amount available under the cap unless the Board documents an exception.