Tuition Stabilization Plan (Pre-payment)
Dear Skidmore College Students & Parents,
I am pleased to announce that once again this year, the College is offering the Tuition Stabilization Plan (TSP). This plan allows you to prepay your daughter's/son's tuition for up to four years at the current tuition rate. During the period covered by the prepayment, you will not be liable for any increases in tuition. Accordingly, this plan offers you the opportunity to fix tuition costs for the duration of your daughter's/son's undergraduate studies. Furthermore, depending on your circumstances, you may be able to do this on a tax favored basis. If you borrow on the equity in your home to fund this plan, there is a high likelihood the interest you pay on the loan will be tax deductible.
The 2014-15 tuition rate is $46,390. Accordingly, if an incoming freshman were to join the plan, the total tuition for her/his undergraduate study would be $185,560 (4 x $46,390). The College is not recommending a specific financing method for the plan. You may secure financing for the plan that best fits your circumstances. Parents who choose this plan typically fund it by liquidating investments or by borrowing on existing equities.
TSP is available to all full-time students. Prepayments will be accepted for a minimum of four semesters (two years) and a maximum of eight semesters (four years). The plan covers tuition only; it does not cover room, board, or miscellaneous charges. All plan participants are required to complete and sign the enclosed Agreement covering the operative terms of the plan. Please read it carefully. The Fall semester tuition is due by August 15, 2014. The completed contract along with payment for the remaining semesters to be prepaid must be received by September 3, 2014. Participation in the plan does not preclude you from applying for or receiving financial aid from the College, State, or Federal sources. Refunds for early withdrawal will be made in accordance with the Agreement.
We believe this plan provides an attractive means to help families better plan and
manage the cost of a Skidmore education. This plan gives you the ability to avoid
future tuition increases.
In addition to the Agreement, we have provided a link to commonly asked questions about the plan. If you have any questions regarding the information provided on these pages or if you would like to discuss the plan to determine if it's right for you, please contact the Skidmore College Bursar's Office at (518) 580-5830.
Cynthia D. Hurley
Skidmore College Bursar