Tuition payments, usually known as tuition in American English and as tuition fees in Commonwealth English, are fees charged by education institutions for instruction or other services. Besides public spending, private spending via tuition payments are the largest revenue sources for education institutions in some countries. In most developed countries, especially countries in Scandinavia and Continental Europe, there are no or only nominal tuition fees for all forms of education, including university and other higher education.
A student loan is a type of loan designed to help students pay for post-secondary education and the associated fees, such as tuition, books and supplies, and living expenses. It may differ from other types of loans in the fact that the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still in school. It also differs in many countries in the strict laws regulating renegotiating and bankruptcy. This article highlights the differences of the student loan system in several major countries.
Term life insurance or term assurance is life insurance that provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments or conditions. If the life insured dies during the term, the death benefit will be paid to the beneficiary. Term insurance is typically the least expensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis over a specific period of time.
A 529 plan, also called a Qualified Tuition Program, is a tax-advantaged investment vehicle in the United States designed to encourage saving for the future higher education expenses of a designated beneficiary. In 2017, K–12 public, private, and religious school tuition were included as qualified expenses for 529 plans along with post-secondary education costs after passage of the Tax Cuts and Jobs Act.
Bright Futures is a scholarship program in the state of Florida. It is funded by the Florida Lottery and was first started in 1997.
A public university or public college is a university or college that is in owned by the state or receives significant public funds through a national or subnational government, as opposed to a private university. Whether a national university is considered public varies from one country to another, largely depending on the specific education landscape.
The HOPE Program created in 1993 under the supervision of Georgia Governor Zell Miller, is Georgia's scholarship and grant program that rewards students with financial assistance in degree, diploma, and certificate programs at eligible Georgia public and private colleges and universities, and public technical colleges. HOPE is funded entirely by revenue from the Georgia Lottery and is administered by the Georgia Student Finance Commission (GSFC).
Henry Ford College (HFC) is a public community college in Dearborn, Michigan. The institution, established in 1938 by the Dearborn Fordson Public Schools Board of Education, is accredited by the Higher Learning Commission. The institution was originally named Fordson Junior College. It adopted the name Dearborn Junior College in 1946, then Henry Ford Community College (HFCC) in 1952, after the Henry Ford Trade School which closed and whose assets were transferred to the Dearborn School Board of Education. The name was changed to Henry Ford College in 2014.
The Tuition Assistance Program is a financial aid program for students who are New York State residents and who are attending a post-secondary educational institution in New York. It is a program of the Higher Education Services Corporation which is a New York State Agency.
In the United States, student loans are a form of financial aid intended to help students access higher education. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses. With notable exceptions, student loans must be repaid, in contrast to other forms of financial aid such as scholarships, which are not repaid, and grants, which rarely have to be repaid. Student loans may be discharged through bankruptcy, but this is difficult.
Higher education in Norway is offered by a range of ten universities, nine specialised universities, 24 university colleges as well as a range of private university colleges. The national higher education system is in accordance with the Bologna process, with bachelor's degrees, master's degrees and doctoral degrees. Acceptance is offered after finishing upper secondary school and meeting general university admissions certification.
Higher education in Alberta refers to the post secondary education system for the province of Alberta. The Ministry of Advanced Education in Alberta oversees educational delivery through universities, publicly funded colleges, technical institutions, and private colleges. These institutions offer a variety of academic and vocational pursuits. Students have access to post-secondary options through most regions of Alberta, and a developed articulation system allows for increased student mobility.
The Texas Comptroller of Public Accounts is an executive branch position created by the Texas Constitution. The comptroller is popularly elected every four years, and is primarily tasked with collecting all state tax revenue and estimating the amount of revenue that the Texas Legislature can spend each biennium. The current comptroller is Glenn Hegar, who took office on January 2, 2015.
The Guaranteed Education Tuition Program, or GET Program, is one of two 529 college savings plans administered by Washington College Savings Plans (WA529). WA529 is part of Washington Student Achievement Council, an agency of the U.S. state of Washington for residents of the state. GET is a 529 prepaid tuition savings plan, while Washington's other plan, DreamAhead, is a 529 college investment plan. As with any 529 plan, account owners invest in the program on behalf of a beneficiary – typically the owner's child or grandchild – in order to prepay for expenses associated with the beneficiary attending a higher education institution.
Teacher Retirement System of Texas (TRS) is a public pension plan of the State of Texas. Established in 1937, TRS provides retirement and related benefits for those employed by the public schools, colleges, and universities supported by the State of Texas and manages a $180 billion trust fund established to finance member benefits. More than 1.6 million public education and higher education employees and retirees participate in the system. TRS is the largest public retirement system in Texas in both membership and assets and the sixth largest public pension fund in America. The agency is headquartered at 1000 Red River Street in the capital city of Austin.
Maryland 529 — formerly College Savings Plans of Maryland — is an independent, non-profit State agency that provides flexible and affordable college and disabilities savings plans, in accordance with sections 529 and 529A of the Internal Revenue Code. The two college savings plans are offered to help families save for future education expenses and reduce dependence on student loans later.
The Universal Access to Quality Tertiary Education Act, officially designated as Republic Act 10931, is a Philippine law that institutionalizes free tuition and exemption from other fees in state universities and colleges (SUCs), and local universities and colleges (LUCs) in the Philippines. The law also foresees subsidies for private higher education institutions. It is intended to give underprivileged Filipino students a better chance to earn a college degree.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, Pub. L. 116–94 (text)(PDF), was signed into law by President Donald Trump on December 20, 2019 as part of the Further Consolidated Appropriations Act, 2020.
DreamAhead College Investment Plan is a higher education savings program administered by the State of Washington. The plan was created in 2016 by the Washington State Legislature, and statutorily known as the Washington College Savings Plan, and opened for nationwide participation in 2018. It is one of two 529 programs offered by the state, the other being the Guaranteed Education Tuition Program, which is a prepaid program. The programs are supported by Washington College Savings Plans, a division of Washington Student Achievement Council.
Educational assistance benefits are employee benefits that allow workers to participate in educational programs for free or at a reduced cost. These benefits are administered through education assistance programs. Education assistance programs are used by corporations to recruit, retain, and retrain employees and to increase goodwill with former employees and the public. They also serve as a corporate tax break.
