GradGuard for Higher Education

The Cost of Medical Withdrawals

Posted by GradGuard on Aug 4, 2015 12:30:00 AM

Though student medical withdrawals are infrequent, they appear to be a growing concern for institutions and the families they serve.  A 2015 survey of college officials estimated that 41% of campuses report having more than 1% of students complete a medical withdrawal a year and 59% indicating less than 1%. 

Clearly student withdrawals are a costly event for everyone. Institutions depend on the funds that students pay in tuition and fees. Students and their families may suffer from both a medical event but should not be surprized by learning after the fact that the instituion may not provide a refund.  

The American College Health Association publishes data that demonstrates the trends and frequency of medical events that may disrupt a students education.  In the most recent report the 2014 annual survey revealed:

If your campus does not provide 100% refunds for medical withdrawals these medical events and the potential medical withdrawal that results can be devastating for a family. In fact, a 2014 national survey of 800 college parents revealed that only 26% would be able to afford the financial loss / additional semester and 51.2% of students said it would be difficult or not possible to absorb the loss.

As students return to campus for the start of college, we like to remind our college and university partners to recommit to disclosing their refund policies to each student. GradGuard recommends that your institution provide notice to each student of your refund policy and also provide the opportunity for students to protect themselves from the financial loss that may result from an unexpected medical withdrawal.  

Please contact us today if we can be of service to you and your students.

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Topics: student success, Student Life, student health, tuition refund insurance, Tuition Insurance, student risk, Transparency, tuition refunds

Tuition Payment Plan Protection

Posted by John Fees on Jul 16, 2015 12:06:08 PM

According to the NACUBO SFS report, as of 2013 95% of institutions surveyed offered tuition payment plans.  

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Topics: student success, Student Life, College Life Protected, Tuition Insurance, life insurance, college parents, college completion

Who Pays for College When a Parent Dies?

Posted by John Fees on Jan 22, 2015 2:28:00 PM

There are many life events that can disrupt a student’s college education, but none more severe than the loss of a parent. Given the severity of such a disruption, it is startling how little awareness there on this topic. This lack of awareness could simply be that college and university administrators have not closely considered how the loss of a parent affects not only the student, but the entire institution.

Infrequent but Dramatic Impact:

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Topics: student success, Student Life, College Life Protected, Tuition Insurance, life insurance, college parents, college completion

The Real Issue: Failing to Graduate Is Costly

Posted by John Fees on Dec 15, 2014 2:46:00 PM

David Leonhardt is the editor of Upshot at the New York Times and posted a useful article titled The Reality of Student Debt Is Different From the Clichés. It reminds me of the challenges our society has in dealing with complex topics captured in the headlines but that often inadvertently distort the real source of risk.

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Topics: student success, apartment living, College Life Protected, Consumer Protection, Refund Policy, Enrollment Management, Best Practices by Colleges, Higher Education Policy, Transparency

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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