Insurance may seem like something that only adults out in the real world need— or can afford— to get. But what about young adults? Well, whether you’re nearing college, currently in college, or recently graduated, there are many reasons why insurance might be a good idea for you.
Just yesterday, NACUBO (National Association of College and University Business Officers) shared an article entitled “Congress Troubled By College Costs” on their website. Donald Heller, Dean of the College of Education at Michigan State University, admitted: “The world of higher education finance is a complex and mysterious place […].” The high cost of tuition is obviously hitting students hard, but other aspects of college life are notably expensive, too. Housing, health care, and travel are among the list of expenses young adults face. Luckily, there are various forms of insurance so that you can be matched with a plan that best suits your life. So start demystifying your higher education finances now by looking at insurance opportunities!
Tuition
NACUBO’s article quoted Senator Mike Enzi, who said, “There is no doubt that college has become too expensive, and it shows no signs of getting cheaper anytime soon.” We all know this unfortunate fact about college tuition, but do you know what would happen to your money if you had to leave school unexpectedly? Life is unpredictable, so to help protect yourself from unforeseen future events, tuition insurance can be a great investment. Many students have to withdraw from school when things like injuries and illness unexpectedly hit life. With tuition insurance, costs from things like tuition, room, board, and fees can be refunded.
Health
Health insurance plans that particular colleges offer their students are not always best for everyone. When you need more or less coverage than what is being offered, it only makes sense to look at all your options. It’s worth the time it takes to do the research to find the health insurance that’s right for you.
Renters
If you live in an off-campus apartment, or even in a dorm room, renters insurance may be a great asset. Renters insurance can help you get compensation if something of yours gets stolen, and be help protect you against the financial repercussions of fines for things like property damage. Whether living on your own or with roommates, you may want to look into what renters insurance has to offer.
Travel
If you’re thinking about studying abroad, you may want to consider travel insurance. It can offer special health insurance benefits while overseas, help protect you from travel cancellation fees, and help over expenses from things like theft and baggage loss.
There’s no need to feel intimidated by the prospect of looking for insurance. Companies like GradGuard have plans that are catered to young adults and students just like you. Flexible plans can help you find a plan that’s right for you. Click here to find out more information on the kinds of insurance offered through GradGuard.
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