College Gift

Calvin College - Planning Ahead - The Tuition Gift Certificate Program Frequently Asked Questions about Calvin College Tuition Gift Certificates Home Tuition Gift Certificate Other Ways to Plan Ahead To Apply FAQ Contact Us Home FAQ Who may purchase Calvin tuition gift certificates? Anyone may purchase Calvin tuition gift certificates for anyone. You do not have to be a parent, grandparent, or relative in order to purchase a certificate for someone. You may even purchase a certificate for yourself, whether you are a current or future Calvin student. Download an application How do I designate or re-designate a tuition gift certificate beneficiary? When someone purchases a certificate, s/he must designate the beneficiary for whom s/he is purchasing the certificate. The purchaser may, at any time before the certificate expires, re-designate the beneficiary of all or some of the certificate units. This can be done by contacting the Calvin College Financial Services Office. If the beneficiary of the certificate is re-designated, the expiration date will be adjusted according to the new beneficiary’s age. The purchaser may give someone else, or even Calvin College, the power to designate or re-designate the beneficiary of the certificate. Alternatively, the purchaser may give someone a contingent power of appointment, which will permit the appointee to designate or re-designate the beneficiary only in the event that the purchaser is unable to do so because of incapacity, death, or any other reason. Do tuition gift certificates expire? Yes. The expiration date of a tuition gift certificate is determined at the time of purchase based on the age of the designated beneficiary. If the beneficiary of the certificate is re-designated, the expiration date will be adjusted according to the new beneficiary’s age. If the certificate expires before it is used, the purchaser is not entitled to a refund of the purchase price. The value of any unused, expired certificate units is credited to the Calvin College Scholarship Fund. If the purchaser has kept his/her address current in Calvin College’s records, the college will give the purchaser a charitable gift receipt for the value of those certificate units, based on tuition cost on the date that the units are credited to the Calvin College Scholarship Fund. What happens if applying tuition gift certificates to a student’s account results in a credit balance? If a student applies units to his/her account and then has a credit balance on the account, s/he has the option of carrying the credit balance forward or having a certificate reissued for the amount of the credit. No cash refunds will be given for credit balances resulting from the application of certificate units toward tuition. What if I need an itemized statement for tax purposes? Calvin College bills its students for a total amount per semester that includes tuition, room, board, fees, and miscellaneous expenses. Certificate units may be applied to part or all of the bill. The college will itemize expenses for anyone who needs an itemization for tax or gift credit purposes. Will tuition gift certificates reduce a student’s eligibility for scholarships or financial aid? Tuition gift certificates do not affect a student’s opportunity to receive merit scholarships. These scholarships are awarded on the basis of academic excellence without regard to financial resources. On the other hand, need-based scholarships and financial aid are based upon student and family resources. If a parent or student has purchased a tuition gift certificate, s/he must report it on the Calvin College Supplemental Financial Aid Form. A financial aid representative from Calvin’s Office of Scholarships and Financial Aid would be happy to discuss how the ownership of a tuition gift certificate might affect a student’s eligibility for need-based scholarships or financial aid. If a student is a beneficiary of a tuition gift certificate purchased by someone other than his or her parent or the student him/herself, the certificate is not considered a family resource. However, when the units are applied to payment of tuition, they become a resource and the student's need-based assistance will be reassessed. A financial aid representative will be happy to assist you in planning the most beneficial use of the certificate units available to you. How do I make changes to a tuition gift certificate? The certificate is documentation of the tuition units that are purchased. The official record of the certificate units resides in the Calvin College Financial Services Office . Any changes to the certificate must be made in the records of Calvin College, not merely on the paper certificate that the purchaser holds. How do I purchase a tuition gift certificate? Calvin College tuition gift certificates may be purchased only by giving the college an original, completed application form and personal check. The college cannot accept credit card payments for the certificates or a faxed application without a personal check. Financial Services Calvin College 3201 Burton Street S.E. Grand Rapids, MI 49546 (616) 526-6127 (voice) (616) 526-8480 (TTY) Fax: (616) 526-6532 finserv@calvin.edu Calvin College does not discriminate with regard to age, race, color, national origin, sex or disability in any of its education programs or activities. Go To Calvin's home page News and events Information Calvin College Contacting Calvin Admissions Search People at Calvin Departments Calvin's website Contact Angela Peterson Last updated Tuesday, August 30, 2005

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