Through the Children's Scholarship benefit, eligible full-time College employees may receive scholarships for their dependent children. Such scholarships help offset tuition fees for undergraduate study at any accredited institution of higher education.
Currently, the annual Children's Scholarship award equals 15% of Franklin & Marshall’s tuition (excluding room and board), or the actual cost of tuition at the institution the child is attending, whichever is less.
An employee may not receive a Children's Scholarship during any semester in which the employee's dependent receives Grant-in-Aid or a Tuition Exchange scholarship.
The Children’s Scholarship benefit may not be used to pay for room, board, books, or to pay other fees.
Direct Payment to the Employee
The Children’s Scholarship (equal to the lesser of 15% of Franklin & Marshall's basic tuition rate or the host school’s full tuition) is normally paid directly to the college or university the child is attending to help offset tuition fees. The scholarship is paid on a semester-by-semester basis. An employee may elect to have the payment made directly to him/her. An employee may wish to do so if the school his/her child will be / is attending will use the Children’s Scholarship benefit to reduce the level of financial aid it provides to the child. If the payment is made directly to the employee, a lesser gross amount will be provided to offset the College’s portion of “FICA” taxes that must be paid. Additionally, federal, state, and local income taxes will be withheld from the payment to the employee. The employee must use the payment to offset tuition fees and other educational expenses for his/her dependent child who meets the eligibility criteria described above.
If both parents of a child work at the College and both parents are eligible for education assistance benefits per this policy, both parents may be awarded a Children's Scholarship on behalf of the same child. Both parents should complete the Children’s Scholarship Application each semester and submit it to Human Resources. Please note, the benefit paid to each employee-parent will not exceed the child’s total tuition fees. Additionally, if the combined benefit paid to both parents exceeds the child’s total tuition fees, the benefit paid to one parent will be considered as taxable income to that parent.
Two faculty members on a shared appointment (two faculty members sharing one full-time faculty position) will be eligible for only one Children's Scholarship per child.
Once a faculty or staff member's child has been admitted to an accredited institution of higher education, the employee-parent must complete a Children's Scholarship Application each semester and submit the application, along with a copy of the child's tuition invoice, to Human Resources.