On-Demand Webinar: Best Practices and Benchmarks for Managing Refunds During COVID-19

February 23, 2021 11:56:19 AM EST / by Natalie Tarangioli

As uncertainty from the pandemic continues, managing refunds and withdrawals remains one of the top issues burdening higher education administrators. GradGuard's latest webinar, 'Best Practices and Benchmarks for Managing Refunds During COVID-19', hosted by NACUBO, dives into this issue and provides clear next steps for campus leaders.

Rising number of withdrawals isn't a new problem

Medical withdrawals have been increasing long before COVID-19. A 2019-2020 Benchmark Study revealed 70% of reporting schools are seeing a growth in student withdrawals.

Those withdrawals contribute to financial losses to both students and institutions, and the pandemic has tightened budgets. COVID-19 has also drawn attention to ordinary student health conditions, such as anxiety, depression, and mononucleosis, that may also disrupt an academic term or lead to an unexpected student withdrawal.

What schools are doing

Most people know they can insure a $300 plane ticket. Not as many people are aware they can also insure a $30,000 college tuition payment. But 2020 was definitely the year of tuition protection, with more than 50 schools implementing an integrated active-choice program.

On Feb. 11, NACUBO hosted Best Practices and Benchmarks for Managing Refunds During COVID-19. The webcast was presented by Derrick Shy, Vice President of Campus Development for GradGuard and Tracy Brown, Director of Anderson Central and Student Accounts. 

"More than 300 higher ed administrators attended the live webinar," John Fees, co-founder of GradGuard said. "That kind of participation demonstrates schools are looking for innovative approaches to reduce the cost of withdrawals and refunds."

How tuition protection plans benefit schools

Best Practices and Benchmarks for Managing Refunds During COVID-19 demonstrates the advantages of educating students and their families by actively disclosing refund and withdrawal policies and requiring students and authorized third parties to actively consent. 
 
Tuition Insurance provides up to 100% of refunds for tuition, academic fees, and housing for complete medical withdrawals. 

What You'll Learn in this Webcast:

  •  Recommendations on how to achieve this goal of transparent refund and withdrawal policies

 

  • New industry partnerships to help you do so at no cost to your institution

 

  • Timely data pertaining to student health trends that allow this process to be delivered and managed by campuses like never before
 

Copy of Copy of Best Practices and Benchmarks for Managing Refunds During COVID-19-2

Watch the Webinar

 

Topics: managing college refunds

Natalie Tarangioli

Written by Natalie Tarangioli

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