Philadelphia, PA (PRWEB) February 4, 2009
Rensselaer Polytechnic Institute (Troy, NY), a leader in technology-based education with an expanding emphasis on entrepreneurship and discovery, is the newest member of the SAGE Tuition Rewards college & university enrollment marketing consortium. Twenty-seven schools have joined in the past 10 months.
"There's no downside for a college. It doesn't cost a college anything, and the college might gain some additional students," declared Dr. James B. Johnston, chairman and CEO of SAGE Scholars. "The short-term enrollment consequences of the current economic malaise demand creative and aggressive marketing strategies, and our Tuition Rewards Consortium is just that. An almost perfect storm of economic turmoil and unfavorable demographic trends make participation in the Tuition Rewards Consortium more important than ever."
137,000+ students are now enrolled in Tuition Rewards, which fosters a dynamic relationship among families, financial institutions and its 225+ member colleges. 30,351 students joined in 2008, more than double the 2007 total (14,571). Approximately 5,000 participating high school seniors will graduate in 2009, so Tuition Rewards is now growing by 25,000 students per year.
When registered students attend a participating private college, the family's accumulated Tuition Reward points may be redeemed as a "scholarship" - a non-need based grant or discount - capped at one full year's tuition (the freshman year) spread over four years.
110 high school seniors submitted Tuition Rewards and applications to 50 member colleges during the first week of December, a one-week record. Families earn Tuition Rewards by saving for college with a variety of financial partners, including the Pennsylvania and Wisconsin state 529 college savings programs, First Midwest Bank, Mutual of Omaha, SEFCU (Albany, NY) and The College Tuition Benefit. Drexel University received the most Tuition Rewards submissions in 2008, with applications from 79 participating students; Duquesne University received 68 Tuition Rewards submissions.
RPI received five Tuition Rewards submissions within its first 15 days of membership. RPI is home to 5,357 undergraduates from 48 states and 67 countries - 64% in the top 10% of their high school class. Widely applauded for the effectiveness of its hands-on, interactive approach to learning, RPI awarded 1,143 bachelor's, 672 master's and 158 doctorate degrees in 2008. Of RPI's 401 full-time faculty members, 398 hold Ph.D. degrees or the highest degree possible in their field.
Founded in 1824, RPI offers 39 majors, including aeronautical, biomedical, environmental and nuclear engineering. RPI is committed to the development of innovative technologies in fields such as biotechnology and nanotechnology. The Princeton Review ranked Rensselaer #2 on its 2007 edition of "More to Do on Campus," thanks to 160 clubs, sports and organizations.
New York State now has 17 Tuition Reward member colleges. Other new members in the past four weeks: Cardinal Stritch University (WI), Eastern Mennonite University (VA), Ohio Northern University and Quincy University (IL).