When talking about college with your student, the conversation almost always turns to money. From tuition to back to school shopping to textbooks and more, there are many costs associated with attending college. For many families, college tuition is one of the largest investments they will make, however, many overlook the need to protect that investment. But just as homeowners can purchase homeowners insurance and drivers can purchase car insurance, college students and their families can purchase Tuition Refund Insurance to protect their investment in college in the event of a covered medical withdrawal (or other covered event) from school.
Accidents happen, illness happens, even to young and healthy college students. No one wants to think about what could disrupt a student’s semester, but does your family have a plan when so many dollars are at stake? If your student contracted a bad bout of mono or suffered a concussion playing intramural sports and couldn’t complete classes for the semester, do you have the resources to offset those costs? At Gustavus, depending on the timing of the withdrawal, there may be circumstances where you may not be eligible to receive a refund of all of your tuition and fees.
That is why it is important to make sure that you understand and consider the potential impact on you and your student if they are unable to complete classes for a semester due to an illness or injury. We strongly encourage you to review Gustavus’s Refund Policy to help you make an informed decision.
Tuition Refund Insurance can help refund your tuition, fees, and room/board charges, up to the policy limits, if you are unable to complete the semester due to a covered medical reason such as an illness, accident, or mental health issue. Further questions can be directed to Doug Minter, Associate Vice President of Enrollment and Dean of Financial Aid, at (507) 933-7527 or dminter@gustavus.edu.
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