Abstract: A tuition advantage program incorporating an award offered to students via a promissory note, and having an original principal balance that replaces a small part of the institutional tuition discount that the institution extends to the student. The principal is a reduction against tuition, and it is not delivered to students in the form of a payment. Extension of the principal therefore results in no direct expense to the institution, as it is merely a transformation of a discount that otherwise would have been granted to the student in the form of institutional aid award. Repayment of the tuition advantage funds is not required until after the student separates from the institution, such as by graduation. Upon separation and timely repayment of the first 75% of the original principal balance, the remaining 25% of the original principal is forgiven, resulting in an effective annual percentage rate of under 1.0%.