By Brandon Gillet
As students, you may have heard of using Aeroplan Miles to undertake international community engagement projects, but did you know you can also use these miles to pay for tuition? Thanks to a new start-up called HigherEdPoints, Aeroplan Miles as well as other loyalty reward points, such as those earned through CIBC Aventura or the TD Bank Travel Rewards programs, can be converted to help pay for tuition or repay student loans, thus easing the financial burden on students and parents.
To make the most of this opportunity, all you need is to know someone who collects the loyalty program points. Instead of redeeming their points for a trip or merchandise, they redeem them for the HigherEdPoints reward listed in the catalogue. The funds are then deposited directly into your account at a post-secondary institution through a free member account set up with HigherEdPoints. And you can benefit even if you’ve already paid for tuition: the program recently partnered with OSAP to allow participants to convert points to pay down the Ontario portion of their principal loans.
“It really is making a significant difference in the lives of many students and families,” said HigherEdPoints founder Suzanne Tyson. “So many parents have told us that they can get flights and merchandise on sale, but education never goes on sale! It’s the best use of loyalty points for many, because the alternative may be taking on debt.”
Tyson started HigherEdPoints in late 2013. Having worked in a college setting, as well as in the technology and loyalty program industries, she decided to combine her experiences to help students tackle one of the largest hurdles in post-secondary education. The program started with only two participating institutions but now boasts over 120, and even five international institutions.
The University of Ottawa enjoys a unique advantage because its involvement in HigherEdPoints is also tied into the Aeroplan Charitable Pooling Program sponsored by the Michaëlle Jean Centre for Global and Community Engagement.
“uOttawa has the very best university program when it comes to Aeroplan charitable pooling accounts,” said Tyson. “Donors can actually redeem collected Aeroplan Miles for the HigherEdPoints rewards and have the funds deposited as cash into the Michaëlle Jean Centre fundraising account.”
The HighEdPoints program recently crossed a significant milestone: they have now helped students and parents convert $1,000,000-worth of loyalty rewards to help pay for tuition and repay student loans.
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