Life can be unpredictable. While college is a good idea for many, sometimes circumstances can prevent us or our children from finishing the semester, or even getting the degree at all!
Is that massive investment lost? Potentially not – if you got tuition insurance.
While it’s not a guarantee – colleges don't always give full refunds – tuition insurance can protect your very expensive investment. But how does it work? And is it worth it?
Some universities give students refunds within a small window if they can’t finish the semester, but this is rare. Tuition insurance allows students to get full refunds for medical reasons, family emergencies or mental health issues. But like everything, it'll cost you.
Tuition insurance is an additional cost – but compared to the price of college, it's worth it. Tuition insurance is typically 1% of the college cost. So if your tuition is $10,000, your tuition insurance cost is $100.
College isn't for everyone, and it can create mountains of debt. But tuition insurance can be a great option for people who are planners of the unexpected. It allows us to have a peace of mind, feel secure in our decisions, and pursue a goal – while keeping our money protected.