HELPING TO PROTECT THE INVESTMENT IN EDUCATION
Every year thousands of college students across the country are unable to complete their classes for the semester due to a medical issue. Unfortunately, in many cases these families are unable to recoup their tuition dollars. Planning ahead now can help ease the financial burden if such an event were to occur. That is why is pleased to make you aware of the Tuition Refund Insurance Plan. This is a private insurance program that complements and enhances our schools refund policy.
Tuition Refund Insurance can help refund the cost of attendance, up to the policy limits, if a student is unable to complete classes for the semester due to a covered medical reason or death of the tuition payer. Covered medical reasons can include illness, accident, injury, or mental health issue.
What costs are covered?
Tuition Refund Insurance covers the costs that may not be returned by the school. This can include funds paid from savings, student loans, college savings plans, or other means. Covered expenses include:
- Academic fees
- Room and Board
- Other eligible education expenses
The amount of coverage needed varies by student and family. Consider all of the costs associated with attending college that you would lose if a medical withdrawal were to occur. This includes tuition, academic fees, room, board, books, and other eligible education expenses. Money at risk can include funds paid from personal savings, student loans, and college savings plans.
GradGuard is a service of Next Generation Insurance Group, LLC.
Tuition refund insurance is underwritten by Markel Insurance Company, Deerfield, IL; Administrative Office, Glen Allen, VA.