National College Decision Day is the First Step Towards Completing College for Future Freshmen and Their Families

PHOENIX, May 1, 2019 /PRNewswire/ -- May 1st turns the page for millions of high school graduates who have selected the college or university where they are confident they will complete their degree.  With slightly more than half of students who start college completing their degree in six-years, college families are smart to ask these questions regarding their investment in higher education and take steps to prepare to overcome risks that could disrupt their education.

Paying for college is often the second largest investment college families make, as a result John Fees, co-founder of GradGuard™, an authority on college risks that works closely with more than 300 colleges and universities, recommends the following smart tips:

What is Your College Refund Policy? If your student has to withdraw from college due to a serious illness, injury or accident, it is unlikely that you will receive a 100% refund.  Only 16% of schools surveyed provide 100% refunds of tuition, and virtually no schools will refund the cost of academic fees, room and board. Tuition insurance can provide a refund, however, when schools do not.  If you cannot afford the cost of an extra college semester, then it is essential to purchase tuition insurance coverage prior to the start of classes. Coverage must be purchased prior to the start of classes and begins at $33.75 for $2,500 of coverage per term.  

Will Your Health Insurance Coverage Work? Many colleges offer health insurance plans to students and require them to purchase or opt out by showing proof of alternative insurance. According to American College Health Association, about 10 percent of students get their health insurance through their school.  A college health insurance plan may make sense for some students. But if you have family health insurance, your college student can remain on a parents' plan until the age of 26.  Be sure to confirm the requirements to use your student campus health clinic and be sure not to pay twice for coverage.

What are Risks of Living on Campus?  For many of the nearly three-million students who live in student housing, this is the first time they are living independently. With an average of 2,000 fires reported annually within on-campus housing by Clery Act safety reports and 69,502 property crimes reported in FBI Uniform Crime Reports, the risks are real. Though some parents may have coverage through homeowners insurance, it may not be practical due to coverage limits, high deductibles and increase cost of your insurance if you file a claim. For about $.50 cents a day, GradGuard's college renters insurance contains an exclusive student endorsement that provides a low-deductible and coverage designed for college life making it a must have consideration for college families.

Fees continued, "College families are smart to protect their investment from the risks of college life. To make it easier to find the insurance programs that are right for your college student or recommended by your institution, families are smart to start with GradGuard's college insurance search tool at GradGuard.com."

About:  GradGuard™ is an authority in protecting the investment in higher education. By protecting students and their families from the risks from college life, GradGuard helps reduce the cost of college and promote greater student success. GradGuard's modern tuition and renters insurance programs are valuable student benefits available through a network of more than 300 colleges and universities. Since 2009, GradGuard's insurance programs have protected more than 650,000 students and families. For more insights on #collegelife follow @GradGuard.

Media contact:
Morgan Thompson
[email protected] 
602-954-6306

SOURCE GradGuard

Related Links

https://www.gradguard.com