For many college families, higher education is one of the largest investments they will ever make. With so much time, effort, and money invested, families need to consider the potential of the unexpected happening: an illness, injury, or other serious life event that may prompt a student to withdraw from school. That’s where GradGuard’s College Tuition Insurance comes in.
If you can’t afford the cost of an extra semester, families are smart to evaluate tuition insurance. Plans like the ones GradGuard offers can reimburse the cost of tuition, housing, and fees if a student withdraws from school during a covered term due to a covered injury, illness, or other covered reason.
Here are five reasons why it’s a smart choice for students and their families.
- GradGuard is the only national plan providing up to 100% protection. This means that if you need to withdraw from school due to a covered serious illness, injury, death of a tuition payer, mental health condition, or other covered reason, you can be reimbursed for up to 100% of your eligible expenses. With other plans, you may only receive partial coverage, leaving you responsible for a portion of the costs. While no one likes to think about worst-case scenarios, the truth is that unexpected events can happen to anyone. According to the American College Health Association, more students during the 2022-2023 school year reported being diagnosed with serious illnesses and injuries such as:
- Anxiety: 34.99%
- Depression: 27.34%
- Cold/Virus: 19.63%
- Flu: 12.56%
- PTSD: 7.8%
- Concussion: 3.1%
- Long COVID: 2.39%
- Mononucleosis: 2.02%
- The most affordable plans are available through GradGuard’s hundreds of partner schools. By purchasing a plan through your school, you can take advantage of special rates that are not available elsewhere. This make it easier for students and their families to find a plan that fits their budget. With customizable plans starting at around 1-2% of the cost of tuition, housing, and fees, you can protect your investment up to $50,000 per term, depending on the plan. It’s always smart to check with your school first to see if they offer GradGuard. Plans offered through a school can cost up to 50% less than retail plans.
- Plans include protection for housing and academic fees. Most institutions only provide a partial refund for tuition through the first few weeks of classes, and virtually no schools provide refunds for housing or academic fees. Tuition insurance can provide reimbursement for more than just the cost of tuition. GradGuard’s plans can also reimburse room and board and academic fees. Expenses can add up quickly and may not be refundable if you need to withdraw from school. With GradGuard’s Tuition Insurance, you can have confidence knowing you can be reimbursed for all of your eligible expenses.
- Involuntary job loss of a tuition payer. Depending on the plan, involuntary job loss of a tuition payer is included as a covered reason. Students who are forced to withdraw from school due to this covered involuntary loss of employment of a tuition payer can now be reimbursed for their tuition, fees, and room and board. This new innovation is designed to reimburse non-refunded eligible expenses when a student withdraws due to the tuition payer being terminated or laid off by a current employer (not including seasonal or temporary positions or if the termination is due to the tuition payer’s fault). This benefit is not yet available in the state of Washington.
- Student Life Assistance is included with all plans. All of GradGuard’s Tuition Insurance plans include Student Life Assistance, a service that provides 24-hour assistance to students and their families in emergency situations. Deciding to withdraw from school can be stressful and confusing, and Student Life Assistance can help with arranging to get a sick student or their vehicle home. Student Life Assistance can also provide translation services to families.
Illnesses and injuries can happen, even to healthy college students. GradGuard’s Tuition Insurance is a smart consideration for all college families. With GradGuard’s Tuition Insurance, you can have the peace of mind that comes with knowing you can be protected in the event of a serious covered injury, illness, or other covered reason. Find a tuition insurance plan that’s right for you at gradguard.com/tuition.
Terms, conditions, and exclusions apply, including for pre-existing conditions. Plans only available to U.S. residents and may not be available in all jurisdictions. Recommended and provided by Grad Guard, a service of Next Generation Insurance Group, LLC (NGI), the licensed agent for all insurance programs. AGA Service Company, dba Allianz Global Assistance (AGA), compensates GradGuard, their national program management partner, for the marketing, distribution and administration of the products. Insurance plans include insurance benefits and assistance services. Pricing may vary by state. Insurance benefits are underwritten by Jefferson Insurance Company (NY, Administrative Office 9950 Mayland Drive, Richmond, VA 23233) rated “A+” (Superior) by A.M. Best Co., A+ (Superior) is the 2nd highest standard of A.M. Best’s 13 Financial Strength Ratings. Non-insurance benefits/services are provided by AGA Service Company. Claims are administered by Allianz Global Assistance (AGA). Allianz Global Assistance is a mark of AGA Service Company or its affiliates. AGA Service Company is an affiliate of Jefferson Insurance Company. Plans include insurance benefits and assistance services. Except as expressly provided for under the plan, consumer is responsible for charges incurred from outside vendors. Contact AGA Service Company at 888-427-5045 or 9950 Mayland Dr., Richmond, VA 23233 or tuition@allianzassistance.com. Schools do not receive compensation for purchase.
