Wheaton College Enhances Student Financial Protection With GradGuard Tuition Insurance
Wheaton College, Massachusetts, has significantly improved its student financial protection offerings by partnering with GradGuard for tuition insurance. Previously, the school was working with another provider to offer tuition insurance to students and families. But administration described the relationship as inefficient and challenging, and information about the program wasn't easily understood by students, families, and school staff.
"GradGuard feels like a better opportunity for families to be more in charge and have a better understanding of what tuition insurance is," Valerie Desmond, Senior Assistant Director of Student Accounts said.
The move resulted in a more streamlined and effective process for managing student withdrawals, which was a growing concern for Wheaton. Previously, handling these claims internally placed a significant administrative burden on the college.
One of the factors that drew Wheaton to GradGuard was its customer service, according to Heather Clang, Director of Student Accounts. She said it's now easier for students and families to learn more about the program directly from GradGuard and to get answers to any questions they may have.
"At the beginning, I felt like this is too good to be true," Clang said. "But GradGuard really lived up to that.”
Key benefits of the partnership with GradGuard, as highlighted by Wheaton's Student Accounts staff, include superior customer service and program clarity. "It's now easier for students and families to learn more about the program directly from GradGuard and to get answers to any questions they may have," Clang said.
The flexibility of GradGuard's program is another significant advantage. Students and families can customize their coverage, insuring any amount from $2,500 up to the full cost of tuition per term.
Seamless integration with Wheaton's online student account center has led to a high participation rate. This easy-to-navigate process introduces the program to students and families and allows for simple policy purchases.
Given the rising prevalence of student medical withdrawals for reasons including mental health conditions such as anxiety and depression, Wheaton College administration views tuition insurance as a critical tool. It can provide a safety net for families, protecting their significant financial investment in education.
BOTTOM LINE
By offering a user-friendly and customizable tuition insurance option, Wheaton College not only protects its students from unforeseen financial losses but also alleviates a considerable administrative workload, allowing the institution to better serve its students and families.
"I would strongly recommend GradGuard as an option for families," Clang said, also emphasizing the administrative benefits. "And from an administrative point, how easy, smooth, clean, and professional it is."
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.
