Survey illustrates risks to higher education enrollment and financial risks for families.
Phoenix, Arizona. February 14, 2020
GradGuardTM , an authority at designing and implementing student benefit programs that help schools to attract and retain students, is pleased to announce the results of the “2019 Trends and Best Practices for Managing Student Withdrawals & Tuition Refunds.”
The 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 are noteworthy:
- 70% of schools surveyed reported 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 institution’s 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.
- 6% of schools surveyed provide 100% refunds of tuition and fees to students who complete a medical withdrawal, down from 23% in 2015.
“The strong response to this year’s survey demonstrates the growing concern of higher education officials for how student medical conditions impact enrollment. Though fewer schools provide 100% refunds, it is good to see that a record number of institutions recognize their responsibility to disclose their refund policy to students and are doing so in proactive ways,” said John Fees, co-founder of GradGuard.
About Us: GradGuardTM, is an authority in protecting the investment in higher education. By protecting students and their families from risks from college life, GradGuard helps reduce the cost of college and promote greater student success. GradGuard’s modern tuition and renters insurance programs are valuable student benefits available through a growing network of more than 330 colleges and universities. Since 2009, GradGuard’s innovative insurance programs have protected more than 700,000 students and families. For more insights on #collegelife follow @GradGuard
John Fees – Co-Founder 602-954-6306