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GradGuard Surpasses 400 College and University Partners

Author Natalie Hubertus

GradGuard is the only provider of tuition protection programs in country providing full refunds to students who medically withdraw from college due to mental health conditions or COVID-19.

Phoenix, AZ (June 14, 2021): GradGuard, one of the largest providers of insurance to college students in the country, has reached one of the most significant milestones in its short history – more than 400 colleges and universities nationwide are now providing renters and tuition protection programs to their students and families. The milestone arrives at a pivotal time in the higher education landscape, as growth in student mental health conditions looms as another risk to the investments families make when paying for college.

GradGuard provides the only tuition insurance protection in the country that reimburses students who withdraw for a covered reason, such as a serious mental health condition, and accommodates withdrawals due to COVID-19.

GradGuard helps schools to protect students from financial losses that happen when a student is forced to withdrawal due to becoming ill,” said John Fees, co-founder and Managing Director of GradGuard. “Our tuition insurance provides the most extensive coverage for students at schools who agree to provide the opportunity for families to protect themselves with benefits that can provide up to 100% of the cost of college including student housing, tuition and student fees. In addition, each plan also includes Student Life Assistance that helps families through the logistics that may accompany an unexpected student withdrawal.”

GradGuard’s coverage of mental health comes as data confirms the spike of mental health cases increasing on college and university campuses. Among the troubling trends:

  • 2020 report by the American College Health Association found more than half of nearly 9,000 students surveyed experienced anxiety or depression.
  • A nationwide study published by the Journal of Adolescent Health found that rates of moderate to severe anxiety and depression among U.S. college students rose substantially over the last few years — from 18% and 23%, to 34% and 41%, respectively.
  • A JED foundation survey in August 2020 found that 63% of students say their emotional health is worse than before COVID-19.

“Given the losses to schools and families during COVID-19 and the new financial stresses that have emerged, it is impressive to see the widespread adoption of GradGuard’s student protection programs,” Fees continued. “In fact, today more schools rely on GradGuard than ever before and as a result, more families have the opportunity to protect their investment from the risks of college life than ever before.”

Schools can, at no cost to them, easily implement GradGuard’s student protection programs within the student billing or leasing processes - providing a convenient way to secure affordable financial protection from the real risks of college life.

“University leaders are constantly looking for ways to improve the student experience, and GradGuard’s insurance programs help provide confidence to families who are often making one of the largest investments in their lives,” said Derrick Shy, Vice President of Business Development for GradGuard. “Schools that rely on GradGuard demonstrate a greater commitment to help their students overcome the unfortunate events that can easily disrupt a student’s education.”

After months of working closely with GradGuard’s tuition insurance administrator, Allianz Global Assistance, GradGuard became the only program in the country to cover medical withdrawals due to COVID-19.

While COVID-19 cases on campuses appear to be on the decline, mental health conditions are on the rise. Like it did with the coronavirus, GradGuard, due to the widespread and national adoption of its network of college and university partners, is the only provider in the country to reimburse 100% of the financial losses when a student needs to withdraw because of a covered reason such as mental or physical illness.

“The idea of losing money can create even more financial stress for students and their parents” said Fees. “If COVID-19 demonstrates one thing, it should be clear that higher education institutions cannot afford to provide refunds and that families are smart to protect their investment if their student is forced to leave school. Schools that work with GradGuard make that possible.”

Tuition insurance plans have terms, conditions, maximum benefit limits and exclusions which apply. Plans only available to U.S. residents and may not be available in all jurisdictions. Plan terms and coverage and limits vary by plan purchased and by state. GradGuard is a service of Next Generation Insurance Group, LLC, the licensed agent for all tuition insurance plans. Plans include insurance benefits and assistance services. Insurance benefits are underwritten by Jefferson Insurance Company. Non-insurance benefits/services are provided and serviced by Allianz Global Assistance. Claims are administered by Allianz Global Assistance. Allianz Global Assistance and Allianz Tuition Insurance are marks of AGA Service Company d/b/a Allianz Global Assistance or its affiliates. AGA Service Company and Next Generation Insurance Group, LLC are affiliates of Jefferson Insurance Company. The insured shall not receive any special benefit or advantage because of AGA Service Company's or Next Generation Insurance Group, LLC's affiliation with Jefferson Insurance Company. Except as expressly provided under the plan, consumer is responsible for charges incurred from outside vendors for assistance or concierge services. Contact Allianz Global Assistance at 888-427-5045 or 9950 Mayland Drive, Richmond, VA 23233 or tuitoin@allianzassistance.com.