Would you like to earn tuition credits from your investments grandchildren, nieces, nephews and other for your grandchildren, much like you earn frequent flyer credits from your credit card purchases? That’s the idea behind SAGE Scholars Tuition Credits.
Tuition Rewards Points are earned based on eligible investments with SAGE Scholars’ Financial Partners, which include brokers, given the opportunity for at least two years insurance companies and mutual funds groups. A list of SAGE Financial Partners can be found at www.tuitionrewards.com.
The way the program works is that each year participants receive Tuition Rewards equal to 5 percent of their investments with a SAGE Financial Partner. For example, if they have $10,000 saved, then at the end of the year, assuming no change in asset value, they will receive 500 Tuition Rewards Points. They can then use Tuition Rewards Points when and if the students they sponsor in the Tuition Rewards attend one of the participating colleges or universities. A list of these participating schools is also on the Tuition Rewards Web site.
The plan is becoming especially popular with grandparents who see this as a great opportunity to get added benefits from their investment and savings dollars. The plan allows them to sign up children, grandchildren, nieces, nephews and other family members to use their Tuition Rewards Points.
All students must be sponsored in the Tuition Rewards Program prior to a student’s completion of 10th grade. The reason for the cutoff is that participating schools are given the opportunity for at least two years to recruit each student in the program.
SAGE Financial Partner and Educator
Financial Literacy: Many parents focus primarily on funding or contributing to their children’s college education, and they often overlook the importance of teaching their children basic financial skills. Along with being a SAGE Financial Partner, Monetta Mutual Funds offers all its shareholders a comprehensive financial literacy program that includes a collection of financial short stories, an investment tutorial and a quarterly newsletter for kids.
The Monetta College Savings Plan gives shareholders an opportunity to annually earn 5 percent of their account balance in
Tuition Rewards credits. These credits can accumulate to up to one year’s college tuition or $24,710, whichever is less, for each student enrolled in the program.
Another part of Monetta’s financial services portfolio is to offer educational information and programs for children. They say equally as important as saving for their future is getting children interested and involved in the savings process. In turn, this helps to introduce the importance of good savings habits at an early age. Monetta Mutual Funds encourages children and young adults to become involved in the savings process. Shareholders can play Monetta’s stock market game, participate in the Online Challenge, where investors can win such prizes as a Microsoft Xbox or iPod Shuffle™, or visit Monetta’s Web site, they can play interactive financial games to earn other prizes.
The Monetta Short Story Collection
This collection of four colorful short stories explains basic economic and business concepts through storytelling.
Accompanying each short story is a coloring book and sticker page as fun activities to help children learn. Here’s a description and short excerpt from three of the books:
“The Kingdom of Ern”
Explains the relationship between productivity and inflation
“King Ernest was a generous king, so as prices rose he insisted that the people be paid more for their work. He even paid people who could not find work. And when he ran short of money he simply printed more with his royal printing press. But even though wages increased, prices rose even faster and his subjects were worse off than before.”
Discusses the opportunities and problems of starting a business “The local storekeeper, Mr. Venture, said he would be willing to loan Tommy the money to buy the materials he needed. The storekeeper hoped that Tommy’s balloon would attract a lot of people to Pine Valley, so that Mr. Venture would be able to sell more of his products. All the town elders shook their heads disapprovingly at Tommy and the storekeeper for putting their savings and their time into such a risky business.”
“The Money Machine”
Emphasizes the importance of controlling the money supply
“Uncle Sam asked for volunteers to distribute the money machines and make sure they never ran out of paper. The local bankers, Fred Reserve and Hal Green, were happy to keep track of all the money machines. Before long, with everyone having their own money machines, things in Sunny Valley began to change.”
To receive additional information about Monetta’s College Savings Program or Tuition Rewards, call 1-800-MONETTA or visit Monetta’s Web site at www. monetta.com for a free copy of “The Kingdom of Ern.” For more about SAGE Scholars, visit www.Sagescholars.com.
Originally Published on GRAND Magazine in January-February 2007 Issue.