GradGuard is pleased to support the ongoing research into the "Trends and Best Practices for Managing Student Withdrawals & Tuition Refunds."
The 2019 survey results are now available and include responses from 179 institutions, representing approximately 1.8 million students. The research was administered by HigherEdStudy during December 2019. Participants in the study are representatives of student financial services, bursars, and student health administrators.
This year's survey builds upon similar research conducted in 2015 and 2017, and as a preview, reveals important trends. Four key findings that are noteworthy appear below.
The 2019 study also reveals a new benchmark for the following:
- 70% of schools surveyed report a growth in student medical withdrawals - up from just 42% in 2015.
- 98% of schools surveyed agree or strongly agree that they are required to disclose the institutions refund policy to students - up from 62% in 2015.
- 49% of schools surveyed actively disclose their refund policies to students - up from only 20% in 2015.
- The number of schools surveyed that report to provide 100% refunds to students for tuition and fees who complete a medical withdrawal declined to 6% - down from 23% in 2015.
In addition to the trends and benchmarks in the 2019 results, the download includes a useful discussion regarding the remedies used by schools to reduce the cost of student withdrawals and refunds. The data shows that more schools than ever report disclosing their institution's refund policy while also providing the opportunity for students to purchase tuition insurance.
Given the complexity of the regulatory environment and growing expectations of college education as a consumer purchase, the report also features a discussion on further research questions that may be pursued by industry associations..