NEWPORT, R.I. - Salve Regina has joined Tuition Rewards, a college savings program from SAGE Scholars that rewards families who patronize participating financial partners with points that can be redeemed for tuition discounts at member schools.

Participating families earn Tuition Reward Points, similar to frequent flyer miles, by saving for college with a variety of financial partners, including the Pennsylvania and Wisconsin state 529 college savings programs, the College Tuition Benefit, First Midwest Bank, credit unions and national marketing organizations.

When registered students attend a participating private college, the family's accumulated Tuition Reward Points are redeemed as a scholarship - a non-need based grant or discount - capped at one full year's tuition spread evenly over four years (or as negotiated).

Participating colleges benefit by gaining the ability to market to the 175,000 participating students once they reach ninth grade. Member colleges have found the demographics - students from families actually saving for college and who have indicated interest in attending a private college - to be attractive.

Salve Regina is the first Rhode Island member and 62nd Catholic college to join Tuition Rewards, expanding the consortium to exactly 250 private colleges and universities in 41 states.

The Tuition Rewards enrollment consortium has been expanding nationally in 2010, attracting colleges in the mountain states and West, as well as four Illinois schools. Forty-eight Pennsylvania private colleges now belong to the expanding consortium, which has added 56 new colleges in the past 28 months.

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