Tuition insurance exists to provide a refund for a covered medical withdrawal when colleges and universities don't. The best way for college students, families, and school officials to understand the value of GradGuard's Tuition Insurance is to hear from a customer directly.
Anna learned about GradGuard's Tuition Insurance before her son started college in New Jersey.
“We weren’t exactly sure if he was going to follow through on college,” Anna said. “He has some medical issues, so we weren’t sure exactly what was going to go on.”
Anna said it was in the back of her mind that Tuition Insurance was a good idea to have, so she purchased a policy for her son as a precaution.
“We weren’t exactly sure if we would need it, but we thought it was well worth it,” Anna said.
Worth the cost for peace of mind
Tuition Insurance costs about 1% of the cost of tuition for the majority of schools that GradGuard directly partners with. That’s $10,000 worth of coverage for $110.
Anna’s son needed to withdraw from school for a covered medical shortly after the semester started. Because she had purchased a policy before the start of classes, she was able to file a claim for tuition and fees.
“The fact that it’s insurance and it’s peace of mind, and we actually had it, led us to feel more comfortable,” Anna said.
Thirty years ago, tuition insurance may not have been necessary, but today, given the high cost of college and ordinary risks of college life, it’s smart for all families to be vigilant.
“You just never know when you actually need it,” Anna said. “I would recommend it highly.”
GradGuard is thankful to work closely with more than 350 colleges and universities nationwide, including Ramapo College of New Jersey, where Anna’s son was enrolled. Learn more about how to implement a Tuition Protection Plan at your university, at no cost to your school.
This article was updated May 2022 to reflect current pricing for GradGuard's tuition insurance.