Protecting your Investment: Tuition Insurance
At College Parents of America, our goal is to help parents and guardians support their college students. We are realistic about the financial burden of college and work hard to normalize talking about it. Today we are going to talk about tuition’ insurance. Yes, it’s a thing, and it is brilliant.
First, a bit of history. College Parents of America (a not-for-profit company) is related to GradGuard, the groundbreaking company that started offering tuition insurance. GradGuard’s whole product line is built exclusively for college students and families, for the purpose of protecting college life. As you can imagine, GradGuard is our favorite insurer, and we would say that even if we weren’t related to them.
So what is tuition insurance? Most colleges and universities do not provide 100% refunds but GradGuard Tuition Insurance can protect your investment. GradGuard Tuition Insurance provides reimbursement when a student can’t complete an academic term due to an unforeseen, covered accident, injury, or other covered reason. Coverage must be in place before classes start, so we suggest checking out the product and getting an instant quote this summer. College is a huge investment, and protecting that investment is a smart move.
In addition to tuition insurance, GradGuard offers renters’ insurance to college students. GradGuard partners with over 600 colleges and universities to provide coverage to students in residence halls. If your student needs to secure coverage for residence hall life or for off-campus living, GradGuard Renter’s Insurance is a great resource. Because GradGuard renters’ insurance is designed for college life, it has features you won’t find elsewhere. Some highlights of GradGuard renters’ insurance follow:
a low deductible (standard deductible is $100!)
no credit scoring (because most 19 years olds don’t have much of a credit score)
international coverage (studying abroad, anyone?)
personal liability coverage (for damage caused to property)
comprehensive coverage for the things students count on, like cell phones, computers, and bicycles.
Tuition insurance and renters’ insurance bring peace of mind to families at a financially stressful time - so make it a priority to get these policies in place!