The 2017 Survey on Student Withdawals & Refunds has revealed that nearly half of schools survyed report an increase in student medical withdrawals.
Student withdrawals are a costly event for all involved. Institutions depend on the funds that students pay in tuition and fees. Students and their families may suffer an unnecessary financial loss.
Despite these potential losses, a majority of schools surveyed cannot verify that students have been informed of the campus refund policies.
As a result, if your campus does not provide 100% refunds for medical withdrawals, we recommend the following strategies.
- Verify that the institution's refund policy has been disclosed to each student and provide notice to each student of your refund policy.
- Confirm that your institution is HIPAA compliant and does not accept student medical information without securing a release.
- Provide each student the opportunity to protect themselves from the financial loss by providing a convenient method for students to enroll in GradGuard's Tuition Protection Plan.
Download the complete report to see how your institution compares.
Remember more schools than ever trust GradGuard to help protect their institutions and the students they serve. GradGuard is a leading provider of student protection programs at more than 200 colleges and universities and an authority at designing and implementing student benefit programs that help schools to attract and retain students. Since 2008, GradGuard’s tuition and renters insurance programs have helped more than 600,000 students protect their investment in a higher education.