Tuition Rewards News

July 19, 2007

100,000th Student Joins Joins SAGE Scholars Tuition Reward Program

SAGE Scholars, Inc., the nation’s first savings plan exclusively devoted to private colleges and universities, today announced that its Tuition Reward Program has exceeded 100,000 enrolled students.

Families who save with SAGE’s financial partners receive Tuition Reward Points – which resemble Frequent Flyer Miles and can be redeemed for discounts off the list price of tuition at 202 four-year colleges and universities in 33 states.

A Wisconsin family investing in the state’s 529 plan, managed by Wells Fargo & Company, enrolled the 100,000th student while signing up their four other children this month.

"It is wonderful to be able to offer families another incentive to start investing for their children's future," said Sarah Henriksen, Vice President, Wells Fargo Funds Management, LLC. "Tuition Rewards enables our investors to earn guaranteed tuition discounts for something they are doing anyway -- investing for college -- at no additional cost."

Tuition Reward participants can invest in a wide variety of financial vehicles, including mutual funds, CDs, annuities and the Pennsylvania and Wisconsin state 529 college savings plans.

“We believe that reaching these two milestones this year – over 100,000 students and 200 colleges -- verifies our concept that families can be encouraged to plan and save for their children’s, or grandchildren’s, college education,” said Dr. James Johnston, SAGE CEO who founded the company in 1996. “Our member colleges are working hard to keep higher education affordable for America’s families.”

For member colleges, the Tuition Reward program is a cost-effective way to identify prospective students who are actively interested in a private college education. A U.S. Dept of Education study has revealed that 67% of students enrolled in private colleges graduate in four years—versus 28% of students enrolled in public universities.

“Tuition Rewards is a demonstrated successful marketing and recruitment tool for Florida Tech,” said Gary L. Hamme, Vice Provost for Enrollment Management, Florida Institute of Technology. “Tuition Rewards is an innovative scholarship program based on investments by a future student’s family. We like how SAGE uniquely presents our university through financial vehicles and their distributors, employers, associations, unions and non-profit organizations. We are pleased to be part of a program that encourages families to sensibly plan and save for higher education costs.”

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