Every year, unexpected events happen that can often disrupt a student's education. When they do, GradGuard's tuition insurance program can help verify that each student has been given the opportunity to protect themselves from a preventable financial loss.
The most recent data of surveyed institutions report that 84% of schools do not provide 100% refunds. Indeed, if your institution does not provide 100% refunds, then you are likely aware that the withdrawal can be devastating for a student and their family.
In fact, a 2018 national survey of more than 500 college parents revealed that only 23% would be able to afford the financial loss / additional semester and 51.% of students said it would be difficult or not possible to absorb the loss.
Students and their families may suffer from a medical event, but it can make the situation worse if they are also surprised by learning that they are not also eligible for a refund.
As a result, GradGuard helps our college and university partners to disclose their refund policies to each student while also providing the opportunity for students to protect themselves from a potential financial loss through enrolling in GradGuard's affordable tuition insurance program.
There is still time to implement a program for 2019. Just contact us today to see if your campus are eligible for GradGuard's modern form of tuition insurance - the Tuition Protection Plan from Allianz Global Assistance
In addition, GradGuard & Allianz Global Assistance will be attending NACUBOs Student Financial Services Conference in New Orleans and will be happy to meet you in person.
By the way, just in case you don't think your campus has a withdrawal problem, 45% of schools surveyed report a growth in medical withdrawals. In fact, ACHA data suggests that unexpected medical events are a more common factor behind withdrawals than some campuses recognize.