Calculation of Rewards
The Tuition Reward is calculated by multiplying designated account balances by 5% annually (i.e., 2.5% semi-annually). For example, an annual account balance of $20,000 over six years would earn a $1,000 reward per year, for a total Tuition Reward of $6,000. The maximum Tuition Reward per student is a year of tuition or $15,600 (or $13,800 with certain colleges), whichever is less. Colleges may include Tuition Rewards as part of their normal financial aid and scholarship packages.

The Tuition Reward must be applied evenly over the years of undergraduate education. If a student completes undergraduate education in other than 4 years, it is up to the college to determine how the reductions will be applied per year. Tuition Rewards are calculated independently and are not part of the total returns on eligible fund balances.

The Tuition Rewards are typically accumulated on a semi-annual basis, i.e., new reduction amounts are added to the previous balance. The total amount stays in the Tuition Reward account until used by the designated student for college. No Tuition Rewards are earned after June 30th of the student's high school junior year.

Tuition Rewards may be cancelled for those sponsors who do not provide updated fund balances as required.

Reporting of Tuition Rewards and Information
Sponsors and beneficiaries in 9th grade or older will have access to their Tuition Rewards via a protected web-based internet site.

Colleges will also have access to the accumulated Tuition Rewards for all students in the program. Individual fund account balances will not be reported to participating colleges.

Eligibility for the Tuition Rewards
Multiple sponsors from the family (e.g., parents, grandparents, and other family members, etc.) may earn Tuition Rewards for one or more designated children. Tuition Rewards are limited to undergraduate tuition at participating colleges. Students are eligible to enroll from birth until two years prior to college matriculation. Students have three years from the date of high school graduation to begin using their Tuition Reward. Unused Tuition Rewards may be transferred by the sponsor to another eligible student retroactively to the date of the new student's enrollment in the program.

Use of the Tuition Reward
The Tuition Rewards will be remitted solely as a reduction from the college's full tuition bill, and not awarded in cash. Assets used to establish Tuition Rewards need not be used to finance beneficiaries' college costs. At the time of application to any member college, each student must present a current statement of Tuition Rewards. Failure to do so may negate the Tuition Reward. Colleges reserve the right to use the Tuition Reward as a part of, or separate from, any financial aid packages.

All colleges participating in the program, including colleges newly added in the future and those that may discontinue participation will honor Tuition Rewards of all students enrolled in the program as long as the students were in the program at some point concurrent with the colleges' participation.

No SAGE college has ever failed to honor its commitment to provide a non-need based tuition discount at least equal to its Tuition Rewards obligation. In the unlikely event that a school participating in the Tuition Rewards program does not honor its contractual obligation to a student sponsored in SAGE by offering a scholarship at least equal to the student's Tuition Rewards, SAGE will negotiate that student's financial aid package with the school on behalf of the student and his/her family, provided that the family submitted the student's statement of Tuition Rewards to the school as described in these Terms and Conditions.

College Information, Admission, and Transfers
Students must apply and be accepted through a college's normal admissions procedures to qualify for Tuition Rewards at a participating college. Eligibility for a Tuition Reward neither helps nor hurts in the admissions process. If a student transfers from one participating college to another, the college accepting the student has the right to decide whether it will honor the remaining Tuition Rewards. Students need not select a college for Tuition Rewards prior to college application.

Responsibilities
Participating colleges are exclusively responsible for providing all Tuition Rewards. Participating colleges may individually impose reasonable rules and regulations, not substantially inconsistent with this application, governing the use of Tuition Rewards.

Sponsors invest solely at their own risk and must determine for themselves the suitability of those financial vehicles. The colleges and SAGE Scholars, Inc. are not security underwriters or brokers and bear no responsibility whatsoever for the success or failure of investments designated in accordance with the program.

Each sponsor signing the application, both on his/her own behalf and on behalf of each designated student as a third-party beneficiary, hereby acknowledges and agrees that SAGE Scholars, Inc. has no responsibility or liability whatsoever for any Tuition Reward provided pursuant to the program, and further agrees to hold harmless SAGE Scholars, Inc. in the event of the failure of any college(s) to provide a Tuition Reward.

By enrolling in SAGE you agree to be legally bound by the terms and conditions of the Tuition Reward program. Furthermore, you certify that the information provided to SAGE is true and correct to the best of your knowledge.

Disclaimer
SAGE Scholars makes available the information and services contained herein in furtherance of SAGE's goal to inform and educate. While SAGE Scholars makes every effort to present accurate and reliable information on this site, SAGE does not endorse, approve or certify such information, nor does SAGE guarantee the accuracy, completeness, efficacy, or timeliness of such information.

SAGE Scholars does not endorse, approve, certify, or control the external sites to which it links and does not guarantee the accuracy, completeness, efficacy, or timeliness of information located at such sites.

SAGE Scholars assumes no responsibility for consequences resulting from use of the information contained herein, or from use of the information obtained at linked sites, or in any respect for the content of such information. SAGE Scholars is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference to, reliance on, or performance of such information.

SAGE Scholars does not offer accounting, tax, legal, investment or other financial advice and nothing contained in the service is intended to constitute professional advice for any financial decisions. Advice received via SAGE Scholars should not be relied upon for legal, tax, accounting, investment or other financial decisions. You should always seek the advice of a lawyer, accountant, financial planner or other qualified financial provider prior to making any financial decisions.