Coastal Carolina University Enhances Student Financial Protection with Tuition Insurance
Program aligns with commitment to student well-being without compromising institutional policies
Like many other institutions, Coastal Carolina University faced challenges with students requesting refunds for medical withdrawals beyond established refund dates. This led to the implementation of a firm no-refund policy, which caused frustration among students and families. Daniel Hucks, Financial Services Business Analyst at CCU wanted to find a better option for students.
“Tuition insurance was something that was floated around for quite some time. It gives students and their families the ability to plan accordingly and makes it much simpler for us to not be in the middle of it,” Hucks said.
Integration was seamless and students are presented the option to purchase a plan through TouchNet Bill+Payment. Staff provide information to students during orientation and in the weeks leading up to each term.
Amid rising withdrawals, administrators are pleased to see students and families see the value in tuition insurance.
“Anything can happen. It’s so cheap - it’s definitely worth it,” Hucks said.
All tuition insurance claims are handled by GradGuard and its underwriters, but the university has a designated staff member to assist students with claim paperwork to expedite the process.
The opt-in program puts students and families in control. Hucks says unfortunately, there will always be students who don’t opt for the insurance and find themselves in a situation with no refund if they withdraw from school.
“It’s a learning lesson for them,” he said. “We offer a great product, very fair terms, and we promote it well. It’s great to have that in our back pocket.”
GradGuard’s Tuition Insurance complements existing refund and withdrawal policies at CCU. Additionally, through a GradGuard partnership, students and families are eligible for Tuition Insurance plans with preferred pricing.
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.
BOTTOM LINE
Offering optional tuition insurance to students and families allows Coastal Carolina University to stand firm on their refund policies and demonstrate a commitment to student success.
“It’s nice to be able to offer some solution that isn’t no solution. Definitely helps them not be in a bad spot with us,” Hucks said.
GradGuard’s Tuition Protection Program promotes financial literacy by helping schools disclose its refund policy and can protect families from a financial loss if their student is forced to withdraw due to a covered reason.
