Monday, Jul. 06, 2009

Tuition E-Gift: SWIC plan lets donors help students with college costs

BELLEVILLE -- The tradition of sending students off to college with a little start-off money has transitioned to the Internet at Southwestern Illinois College.

But instead of that money going to parties and microwavable meals, it goes toward students' tuition and fees.

"This is a unique way to help individuals further their education," SWIC President Georgia Costello said. "It is perfect for recent high school graduates getting ready for college or for someone who is going back to college."

SWIC recently introduced its Tuition E-Gift, which allows those looking to help a SWIC student pay tuition by depositing money into their eSTORM account, the school's record management system.

Donors can purchase the E-Gift online through SWIC's Illinois E-Pay system at www.swic.edu/e-gift. After naming a beneficiary, specifying a dollar amount and submitting payment information, donors receive confirmation e-mails from Illinois E-Pay and SWIC.

The SWIC confirmation e-mail letter names the donor, beneficiary, dollar amount and the sequence number the student will need to redeem the funds.

Students can redeem the money online or at the school's business office to make tuition or fee payments. The E-Gifts expire five years from the date they are purchased, and they do not affect students' eligibility for financial aid.

"It's a great idea to help people who want to go to college or graduating high school seniors, and for anybody who wants to go back to college and needs a little more help," said Jim Haverstick, a SWIC spokesman.

Haverstick said students can apply E-Gift money to payments at any time after it is deposited into their accounts, even if they need to take a semester off.

The new E-Gift program comes at a time when students might find it more difficult to afford college.

Looming budget cuts at the state level are posing a major threat to the state's scholarship and grant programs, while schools have reported increases in their enrollment figures and tuition costs.

In May, SWIC increased its tuition from $75 to $85 per credit hour for the Fall 2009 semester, citing a "projected significant increase in enrollment," according to a SWIC statement.

"...Fall enrollment is up approximately 10 percent over this time last year," Costello stated at the time. "This increase in enrollment is great news, but the influx will actually cost us more in additional operating expenses than we will receive in new tuition dollars if we stay at the current rate."

Haverstick said he believes SWIC is the only metro-east college or university to offer a payment option like the E-Gift.

There are no such payment options listed on the Web sites of McKendree University, Southern Illinois University Edwardsville, Lindenwood University or Lewis and Clark Community College.

For more information on SWIC's Tuition E-Gift, visit www.swic.edu/e-gift or contact the school's business office by calling 235-2700, ext. 5367 or e-mailing businessoffice@swic.edu.