GradGuard for Higher Education

College Confidence & More + Bursars 2018

Posted by John Fees on Apr 18, 2018 1:56:59 PM

There are several gatherings of higher education officials that I find to be filled with essential truths. 

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Topics: College Life Protected, Tuition Insurance, Consumer Protection, Refund Policy, Transparency, college completion, Is College Worth It, Disclosures, regulation, Higher Education, Bursars,, nacubo,, business operations,, college refunds,

2018 NACUBO SFS - Tuition Refunds & More

Posted by John Fees on Mar 13, 2018 7:03:00 PM

Today it was my pleasure to join Mike Reynolds of Auburn University to present at the annual NACUBO Student Financial Services conference.  It is always good to share the stage with a higher education veteran and true student financial services professional.  Mike and I had some 

We shared our experiences and research regarding:

Common & Emerging Best Practices for Disclosing and Managing Tuition Refunds.  

Our presentation focused on the growing impact/frequency of student medical withdrawals and the increasing cost of the financial losses experienced by institutions and families.  The discussion aimed to 

  • Understand national research / benchmarks for how schools disclose their refund policies & manage student withdrawals 
  • Understand how schools are reducing the costs and risks of administering tuition refund appeals process
  • Understand how schools are implementing tuition insurance programs to reducing the financial losses caused by students withdrawals.

It isn't always possible for schools to afford the cost of attending an industry conference in person, so I am pleased to share the slides from our discussion through the link below. 

Download the NACUBO SFS Slides 

The slides provide a summary of the industry research and also a review of the experience at Auburn University and other schools who have chosen to embrace a fully transparent approach to disclosing and managing tuition refunds. Given the growth in student medical withdrawals it is prudent for schools that do not provide 100% refunds to provide notice of their institutions refund policy.   

The research contained in the presentation provides a useful baseline for schools to benchmark their own experience in managing the growing cost of refunds.   You don't need to read the research or the slides, however, if you take a moment to consider the following conclusions of the presentation. 

If you are serious about reducing the cost of student withdrawals to your institution and the families you serve, then we recommend that you consider the following practical next steps:

Recommended Next Steps

1. Evaluate your institutions refund policy.

2. How are students provided “notice” of the refund policy?

3. Is your current refund policy administered objectively?

- Avoid subjective & arbitrary administration

4. What is the cost of administering your current policy?

- Confirm you do not accept student health records without a HIPAA release.

5. Adopt a fully transparent disclosure process and offer tuition insurance protection.

 

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Topics: student success, Student Life, student health, Financial Literacy, tuition refund insurance, Tuition Insurance, student risk, Refund Policy, Best Practices by Colleges, Transparency, college parents, tuition refunds, Student Benefits, Higher Education, Bursars,, nacubo,, business operations,, Tuition Protection Plan, college refunds,

"Look Right" - Helping Students and Families Take Informed Action Webinar

Posted by GradGuard on Sep 29, 2017 9:03:04 AM

Have you ever noticed that in life - easy stuff get's done.  Making it easy for students to make good decisions is a cornerstone of a well-designed education experience. 

For instance, placing a recycling bin next to a garbage can - enables a choice when one may not have previously existed.  There was no choice to recycle without including the alternative for students to choose to recycle instead of just putting something into the trash. 

This small example demonstrates the importance of decision design and a recent webinar hosted by Professional Development Group illustrates how thoughtful decision design within student financial services can benefit both institutions and the students they serve.

Learn how schools are evaluating the decisions that students and their families are required to make.  Schools are adopting easy to implement approaches to help students make informed decisions - such as FERPA notification, refund policy disclosures and programs such as health and tuition insurance programs.

Access The Webinar

Another example - "Look Right" - is familiar to visitors in London.  Without such a simple reminder, the safety of American visitors to London could be compromised.  Decision design - it works and can be easily implemented to improve outcomes for your institution. Learn more today.

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Topics: College Life Protected, Tuition Insurance, Best Practices by Colleges, college refunds,

Webinar - Transparency - Helping Students and Families Take Informed Action

Posted by GradGuard on Sep 18, 2017 11:12:15 PM

Please join Professional Development Group's education series for a webinar led by John Fees, co-founder of GradGuard and Craig Lockwood, of Tuition Management Systems as they discuss the timely topic of transparency.

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Topics: College Life Protected, Tuition Insurance, Best Practices by Colleges, college refunds,

College Life Protected

Insights on student risk

GradGuard for Higher Education examines how unexpected losses can affect student success, bringing you the latest in best practices and trends for safety on and off campus.

Here you'll learn more about:

  • Risks on and off campus
  • How schools are using benefits programs to protect and attract students
  • Effects of loss on student outcomes

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