Tuition Insurance Grows 9x in 3 Years at Miami University
By integrating tuition insurance into their billing system, Miami University empowered families with flexible protection, leading to a 9x increase in participation.
Miami University has offered tuition insurance for many years, but it wasn’t until more recently that participation in the program skyrocketed.
Before working with GradGuard, the previous tuition insurance provider featured a flat-rate, opt-out model that lacked flexibility and offered limited coverage.
While student and family engagement was low, awareness was even lower. Miami became a GradGuard partner in December 2015, drawn to the tuition insurance program that included customizable, opt-in plans that allow families to select coverage based on their actual tuition, housing, and fees.
“It put the power of the insurance in the hands of the family,” Cassano said.
The most significant driver of change came when GradGuard Tuition Insurance was embedded directly into the university’s billing system, Nelnet. Instead of relying solely on email reminders or website links, families now see the tuition insurance offer pop up in the billing portal.
“A lot of our families think it’s new. It’s always been on the website, and it’s always been an option. Now that it’s in front of them, I think they pay attention,” Cassano said.
Medical withdrawals used to leave families with no financial recourse. Now, tuition insurance helps fill that gap. Miami continues to offer a one-time tuition credit for students who medically withdraw, but GradGuard can provide additional peace of mind for future terms.
Miami saw 9x growth in program participation in the first few years after becoming a GradGuard partner. Now, all students are eligible to protect their investment with GradGuard Tuition Insurance. With seamless billing integration, customizable plans, and zero administrative burden, GradGuard became a smart solution for both Miami University and its students.
BOTTOM LINE
GradGuard Tuition Insurance is cost-free and maintenance-free for colleges and universities. Families manage everything directly through GradGuard, including questions about coverages and claims.
“That, to me, is a home run. It’s a no-brainer to have this,” Cassano said.
GradGuard Tuition Insurance promotes financial literacy by helping schools disclose their refund policy and can protect families from a financial loss if their student is forced to withdraw due to a covered reason.
