Most colleges and universities don’t provide full tuition and academic fees refund. Many students and families don’t find out until after it’s too late, and their investment in college is lost. That’s how GradGuard’s Tuition Insurance can help in the event of an unexpected medical withdrawal.
When it comes to higher education, many factors should be considered when a student is deciding on where to go. Often, money is among one of the top factors in the choice. According to The College Confidence Index, 66% of parents say they are unfamiliar with the tuition refund policy at their student’s school. Kara first learned about GradGuard’s Tuition Insurance when her son, Andrew, was an incoming freshman at Marist College.
She said she wanted to ensure that if anything were to happen, that was one of the covered reasons, their enormous investment in his education wouldn’t be lost. Marist is one of the over 500 colleges and universities that rely on GradGuard to protect students from preventable financial losses.
College Students and Families are Wise to Have GradGuard
Looking ahead, Kara and Andrew’s decision to purchase tuition insurance was the right choice for them. She said her son struggled a little bit the first semester, and they were prepared.
“When he went back at the beginning of the spring semester, it became clear that he was not going to be successful for various mental health issues,” Kara said. “Our first priority was to bring him home, which we did.”
Andrew completed a medical withdrawal from school. It was early in the semester, so the family could get a partial refund from the school. Then they contacted GradGuard and filed a claim for the remaining balance.
GradGuard Can Provide a Refund When Schools May Not
“The amount that we paid at the beginning of the semester, minus what the school refunded — we got every other cent back from GradGuard,” Kara said. “We were thrilled. That money is for him to pursue his education when he’s ready.”
GradGuard was able to give this family the opportunity for a do-over. That’s not something that happens a lot, let alone in college. But when the unexpected happens, GradGuard can help you get back on track. Learn more about how to buy Tuition Insurance for your school using GradGuard’s college search tool.
Questions to ask your college or university:
If you are considering purchasing tuition insurance, here are a few questions to ask your student’s college or university.
- What happens to my tuition payment if my college student is forced to withdraw from school due to illness, injury, or COVID-19?
- What is the school’s refund policy?
- Do you offer tuition insurance?
How GradGuard Can Help You
By working with almost 500 colleges and universities nationwide, GradGuard can offer students and their families affordable protection for up to 100% of the cost of college, including tuition, student housing, and academic fees. Each policy also includes Student Life Assistance, which can help families through the logistics accompanying an unexpected student withdrawal. GradGuard’s mission is all about helping more students graduate. With tuition insurance, students who are forced to withdraw for a covered medical reason can be given the rare opportunity for a do-over.