Five Things You Didn’t Know About: How to Reduce and Protect Your Investment in College

August 6, 2010

As back-to-school season approaches, students excitement about going off to college is likely accompanied by their parents’ dread of the costs associated with their education.

A quick search of online resources can uncover ways to save money while protecting your substantial investment in college.

Here are a few places to start:

o Ship it! For students making long-distance moves, consider shipping their belongings through a specialty college moving company. You’ll be able to track the packages and your student won’t have to haul them through the airport – or worry that they’ll be lost by the airline.

o Take an insurance inventory; special tuition and renters policies are available for college students. Study the school’s tuition refund policy. Many schools only offer a partial refund of tuition if a student is forced to withdraw in the first five weeks of classes for medical reasons and most schools don’t refund anything after five weeks. Make a list of students’ personal property such as electronics, computers and bikes and research flexible, low-deductible renters insurance policies to protect property. Learn more about student insurance options at www.GradGuard.com.

o Buy textbooks online. Substantial savings can be had by utilizing one of the many book-focused websites. Another advantage – the hefty tomes can be delivered right to the dorm – no lugging them back from the bookstore.

o Plan ahead for visits. Hotel rooms book up fast for parents’ weekend and flights are always jammed with kids heading home for Thanksgiving. Use online travel resources to bid on and book travel ahead of time, saving money – and a lot of headaches.

o Feed that starving student: arrange for regular deliveries of their favorite nutritional foods from an online grocery service – particularly important for those with special dietary needs.

About GradGuard™:
GradGuard is a service of Next Generation Insurance Group, LLC (NGI). Founded by veteran collegiate, affinity and insurance marketing executives, NGI has established the nation’s first comprehensive insurance and benefits solution specifically designed for the collegiate market. GradGuard.com aims to offer protection for college life. Its products include tuition refund insurance, renters insurance and student health insurance. For more information, visit www.gradguard.com/tuition or call 877-556-3984. Tuition refund insurance is underwritten by Markel Insurance Company, an “A” (Excellent) rated company according to industry watcher A.M. Best.

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