For many families preparing to send their sons and daughters to college this September, the cost of tuition is an investment that is second in size only to a home mortgage. A four-year undergraduate program now averages between $15,213 and $35,636 for one year.
And yet, according to a 2009 study by Student Monitor, 27 percent of students (or someone they know) had to withdraw from college mid-semester due to health issues or a death in the family. Until now, tuition insurance was typically available only at select private colleges and universities.
A first-ever national group policy from GradGuard ™, a service of Next Generation Insurance (NGI) Group, LLC. marks the first time that tuition insurance is available to any student enrolled in an accredited higher education institution across the country.
Parents may mistakenly believe that colleges refund tuition in the case of unexpected illness, injury or even death. In fact, the organization known as College Parents of America reports that most colleges and universities do not provide a full refund if a student is forced to withdraw from school for medical reasons. Through GradGuard, all parents and students now have the opportunity to protect their investment in education.
The GradGuard plan is available to students nationwide and covers verifiable losses connected to the cost of attendance. This includes not only the loss of non-refunded tuition payments, but also academic fees, room and board, books and travel to and from the academic program.
Send a student back to school? GradGuard also offers a Student Protection Plan ™, a bundle of insurance and lifestyle benefits designed to protect college students including emergency medical evacuation insurance, identity theft protection and resolution services, and protection for their personal computers.
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