Browsing Tag

tuition insurance

Student Life

Don’t Rely on College Refunds: Why Tuition Insurance is Important

January 4, 2021

This year has left many individuals uncertain what their academic futures will look like. With COVID forcing colleges and universities to change their business tactics, many students are finding it nearly impossible to get tuition refunds if they are forced to withdraw from school.


How can you protect your investment in your education and get a full refund for your college tuition?

Tuition insurance is a great way to keep your finances secure in a time of crisis. Here’s a guide to help you understand tuition insurance and how it could benefit you.


How COVID has Affected Refund Policies


Most colleges and universities offer a refund policy allowing you to get your money back after deciding to withdraw from school. This usually applies only to the first five weeks of college. However, most schools do not refund 100% of the money you paid to attend.


COVID has affected college life in many ways as most students shift to online classes. Many institutions are continuing to charge room and board, even while students study from home. Some classes also lack certain classroom fundamentals. This includes mock trials, clinical experiences, and more.


Some colleges have found themselves unable to give refunds at all. The virus has brought many new changes that universities aren’t sure how to cope with; some schools are citing a lack of funding as a reason to hold onto college tuition. Due to this lack of funding, among other issues that universities are facing with the virus, you may have a hard time getting a refund.


What That Means for You

If you decide to attend college or a university in the near future and decide to withdraw yourself, you may be out of luck when trying to get a refund. Some students have taken their universities to court over the matter. Many cases are still pending and waiting for a resolution. 


Not only will you be paying for things you won’t actually receive, such as room and board, but you may not even get your money back after dropping out. At most, you may receive a small fraction of what you paid. 


What is Tuition Insurance?


Are you considering applying for college in the coming year? If so, then you should strongly consider getting tuition insurance for yourself. This will help you protect your money in case you decide not to follow through with your education.


Tuition insurance, otherwise known as tuition refund insurance, is exactly what it sounds like; it protects you from being denied a tuition refund after withdrawing from school. The reasoning behind your withdrawal, however, must be due to your medical or mental state. For example, if you received a serious injury that prevents you from attending your classes, then you can get your tuition funds back with tuition insurance.


Your reimbursement may depend on the type of coverage you apply for. This means that you are not guaranteed a 100% refund just because you have tuition insurance; however, it is better to receive a percentage of your tuition because of your insurance than to be denied any refund.


Tuition insurance commonly covers one academic term. However, you are able to purchase additional insurance policies in order to protect yourself throughout your academic career. 


The Benefits of Tuition Insurance


Tuition insurance can grant you peace of mind when it comes to paying for your education. You can know that your investment in your education is safe and that if the worst happens, you can get your money refunded. 


If you are wondering whether or not tuition insurance is right for you, there are a couple of things you can consider.


First off, consider the overall cost of your tuition. Is the institution you are attending particularly expensive? If so, then tuition insurance can greatly ease your mind and is a great way to protect your investment.


If you have a chronic illness or severe mental illness or disability that may make it hard for you to attend college, then tuition insurance is a great way to protect yourself. The last thing you want is to enter into your institution and realize you cannot continue due to your physical or mental health.


With COVID as a serious threat to your physical health, you should strongly consider tuition insurance in case you do contract the virus. This disease can leave you bedridden for weeks, which would make you incapable of completing your schoolwork and attending your classes even if they are online.


How to Get Tuition Insurance


If you are considering tuition insurance, you will need to apply for coverage before beginning the academic year. You are not required to purchase tuition insurance for the entirety of your academic career, so choose your plan and coverage wisely.


There are many different plans that you can choose from, so do your research before settling on a plan. Your school likely offers various forms of tuition insurance, so don’t hesitate to look and see what plans they are offering as well. 


Protect Yourself and Your Money


There’s no need to worry about where your money is going when it comes to your college tuition. With tuition insurance, you can keep your assets safe and get a college refund without being denied by your university.


Are you considering attending a university in the near future but are concerned about needing to have your tuition refunded?


We’re here to help. Contact us with any questions or concerns you have about our tuition insurance and continue reading our blog for more helpful information.

Student Life

Testimonial: Tuition Insurance Can Give You a Do Over for College

December 8, 2020

Most colleges and universities don’t provide full refunds for tuition and academic fees. It’s something many students and families don’t find out about until after it’s too late, and their investment in college is lost. That’s how GradGuard’s Tuition Insurance can help in the event of an unexpected medical withdrawal.

Kara first learned about GradGuard’s Tuition Insurance when her son, Andrew, was an incoming freshman at Marist College. She said she wanted to make sure that if anything were to happen that was one of the covered reasons, their big investment in his education wouldn’t be lost. Marist is one of the nearly 400 colleges and universities that rely on GradGuard to protect students from preventable financial losses.

College students and families are smart to have GradGuard

Looking ahead, Kara and Andrew’s decision to purchase tuition insurance was smart. She said her son struggled a little bit the first semester.

“When he went back in the beginning of the spring semester, it became clear that he was not going to be successful, for a variety of mental health issues,” Kara said. “Our first priority was to bring him home, which we did.”

Andrew completed a medical withdraw from school. It was early in the semester, so the family was able to get a partial refund from the school. Then they contacted GradGuard and filed a claim for the balance.

GradGuard provides a refund when schools may not

“The amount that we paid at the beginning of the semester, minus what the school refunded — we got every other cent back from GradGuard,” Kara said. “We were thrilled. That money is for him to pursue his education when he’s ready.”

GradGuard was able to give this family the opportunity for a do over. That’s not something that happens a lot, let alone in college. But when the unexpected happens, GradGuard can help you get back on track. Learn more about how to buy Tuition Insurance for your school using GradGuard’s college search tool.

Questions to ask your college or university:

What will happen to my tuition payment if my college student is forced to withdraw from school due to an illness or even COVID-19?

What is the school’s refund policy?

Do you offer tuition insurance?

Student Life

Forbes Spotlights Value of Tuition Insurance

November 17, 2020

The impact of the Coronavirus on the operations of colleges and universities has focused attention by students and families on the refund policies of schools. With families investing more than $300 billion annually in college expenses, it’s not surprising that Forbes recently published an article explaining how tuition insurance can provide a refund when a school may not.

Tuition insurance may not have been essential 30 years ago, when college was more widely affordable and school refunds were more generous. Today, however, given the both the high cost of tuition and less generous refund policies of schools, it’s an important benefit that colleges and universities can offer to protect their students.

When combined with trends in student health conditions, tuition insurance is also an essential consideration for families worried about their students chronic health conditions or potential vulnerabilities.   

Less Generous College Refund Policies

If a student needs to leave school, it’s more than likely that the institution will only provide a prorated refund through the first few weeks of school. Refunds for room and board and academic fees are even more unlikely to happen. 

Forbes personal finance journalist, Cameron Huddleston, recently interviewed John Fees, the CEO and co-founder of GradGuard about the importance of knowing a school’s refund policy.

“Typically, this is only a refund of tuition through the first five weeks of classes,” Fees said. 

A 2019 benchmark study conducted by HigherEdStudy for GradGuard found that only 6% of schools reported providing a 100% refund of tuition—down from 23% in 2015. None of the public colleges surveyed provide full refunds and nearly half of the schools don’t provide any refund for student fees and academic fees. 

Source: Forbes, Tuition Insurance Rescues Lost College Deposits And Payments. Data: GradGuard, Benchmark Study: 2019 Trends & Common Practices for Managing Student Withdrawals & Tuition Refunds

Growth in Student Medical Conditions 

A 2019 national benchmark study of colleges and universities revealed student medical withdrawals are also on the rise.  In fact, 70% of schools surveyed reported a growth in student medical withdrawals – up from just 42% in 2015.

In addition, the American College Health Association’s annual research report on student medical conditions also confirms the value of  tuition insurance.  The complete report includes even more dramatic increases in mental health conditions that may disrupt a students semester. 

GradGuard’s tuition insurance covers an unexpected withdrawal due to a covered illness, injury, or other covered reason. This chart below demonstrates the impact of health conditions that can also create a financial loss for families. 

Four common student illnesses including concussions and mono have a big impact on degree completion

How Colleges and Universities Benefit

Given the growing media interest by Forbes and other publications, schools are smart to provide their students the opportunity to protect their investment in college. There are multiple benefits to schools who offer GradGuard’s tuition insurance to each of their students including:

  • Help assure that students who have to leave school for a medical reason can afford to return to campus when they are healthy enough to do so.
  • Demonstrate to students that they can receive a payment for the potential financial loss that may result from withdrawing from an academic term due to covered reasons such as medical conditions.
  • Provide a more affordable product with expanded coverage that meets the needs of the school and student.
  • Reduce collections issues from students who leave school by providing the school a payment for any outstanding balance of an insured student.

Lastly, schools are smart to offer GradGuard’s tuition insurance because it will enable them to have an answer to students and parents who may ask them for it. The attention from the Forbes article, ‘Tuition Insurance Rescues Lost College Deposits and Payments’ will certainly lead to more questions from students and families looking to protect their investment in college.

Health

Bloomberg: Tuition Insurance Sounds Great, Unless it Doesn’t Cover Covid-19

November 16, 2020

As Covid-19 outbreaks continue to pop up nationwide, college campuses are no exemption. Naturally, college parents are anxious about their kids’ health. Olivia Raimonde, Janet Wu and Katherine Chiglinsky took a deep dive for Bloomberg into the health and financial worries of Covid-19 and college.

The feature, ‘Tuition Insurance Sounds Great, Unless It Doesn’t Cover Covid-19’ includes an interview with a GradGuard member, Marcy Fischer, about her decision to send her daughter to Emory University with Tuition Insurance. Covering her daughter’s tuition and off-campus lease comes to about $30,000 per semester.

“You know, if they just get sent home from school and go virtual, that’s one thing,” Fischer, who lives in Massachusetts, told Bloomberg. “But if they were to get sick and have to withdraw from university for the semester, we’d be out that money.”

To cover the risk of losing tens of thousands of dollars, Fischer bought a tuition insurance plan from GradGuard, she told Bloomberg. The plan can cover what would have been otherwise lost tuition expenses and other fees if a student is too sick to finish the semester.

Atlanta-based Emory University is one of the nearly 400 colleges and universities that partner with GradGuard to offer college students and their families the best rate and coverage for tuition insurance. Fischer was able to protect a semester’s worth of expenses, $30,000, for around $300. Any student attending a four-year non-profit college or university can purchase a policy, however, the policies are underwritten by Allianz Global Assistance and are more costly if purchased directly online.    

Interest in tuition insurance has jumped significantly over the year, as the pandemic made the financial risk of college even more apparent, according to John Fees, CEO of GradGuard.

“Families are more aware than ever before of the risks of paying for college,” Fees said.

Epidemics and pandemics are typically excluded from GradGuard’s Tuition Insurance coverage. However, until further notice, GradGuard is choosing to accommodate claims for students who completely withdraw from school due to becoming ill with Covid.

In addition to Covid, Bloomberg goes on to explain that tuition insurance can also cover withdrawals due to other types of illness, including mental health conditions.

But it’s important to note that tuition insurance won’t cover costs if a school moves from in-person classes to online-only learning.

“It’s a medical withdrawal, not a change in how schools teach,” Fees said. “It’s not a business interruption insurance.”

GradGuard’s Tuition Insurance is an affordable way for college students and families to protect what’s often the second-largest investment in their lives. Covid outbreaks on college campuses highlight further proof of how costly it can be for these families when a student is forced to withdraw.

Student Life

Financial Advisor Magazine: Want a College Refund for Covid Chaos?

October 6, 2020
Financial Advisor Magazine: Want a College Refund for Covid Chaos?

Even outside of a pandemic, getting a college tuition refund or reimbursement could be tricky. Confusion has only increased since the spring, and is coming to light even more now that fall semesters are in full swing at colleges and universities nationwide. 

Kevin Walker dives into the college refund conundrum for Financial Advisor Magazine.

Many schools attempted to curb outbreaks by delaying the start of in person classes, or switching entirely to online-only instruction. 

But despite Covid-19 concerns, many schools opened doors for on-campus learning and the inevitable spread of the virus still happened, despite mask requirements, rules against large groups and gatherings, and other restrictions, Walker states.

College And University Response

Some colleges and universities have tried to limit further spread by recommending students quarantine and shelter in place. Financial Advisor mentions the University of Arizona’s two-week shelter in place order that was implemented on September 14.

This semester is proving to definitely be a challenge for higher education administrators nationwide – at no real surprise. 

College Refund Policies

Adding to the chaos are college refund policies. The majority of colleges and universities provide no refunds for tuition beyond the first few weeks of classes, according to an Ipsos poll for Allianz Global Assistance. Virtually none provide refunds for academic fees and room and board. That same poll found that about 85% of parents and students said they would be hurt financially if there were no refund at all. 

As Walker states, it’s important to know what policies generally exist:

• When a student withdraws during a semester (because of illness or for some other reason) the college’s refund policy may include reimbursement, especially if the student withdraws within the first month.
• Colleges and universities typically offer refunds on a sliding scale. Most schools won’t give any money back at all after the fifth week of classes.
• On the other hand, if a student is expelled for a specific cause, such as not following the college’s Covid-19 guidelines, there’s no refund. 

Typical School Refund Policy

Tuition Insurance To The Rescue?

Tuition insurance provides refunds for students withdrawing from school for medical reasons. This is particularly helpful for students who withdraw in the middle of or late in the semester. Typically, they may not receive any tuition reimbursement at all. But tuition insurance can handle the amount not covered, including other fees that are typically excluded from college refund policies, Walker states. 

Tuition insurance doesn’t apply if a student leaves for academic or disciplinary reasons, or because they can’t afford the costs.

GradGuard, with nearly 400 school partners, is the largest provider of tuition insurance in the country. Plans exclude epidemics but the insurer issuing the policies, Allianz Global Assistance, announced in June it would cover students who had to withdraw due to contracting the coronavirus.

It’s important for students and families to know what’s covered and what’s not in terms of Covid-19 coverage:

  • Policies must be purchased prior to the start of classes. 
  • Don’t expect it to cover in-person classes moving to online-only instruction. 
  • Fear of attending class due to the virus isn’t covered.

Questions to Ask

Making sure you understand your school’s refund policy as it relates to Covid-19 and beyond will save you some surprises that may come up later on. Some of this may seem like a lot to take in, but with college being one of the largest investments most families will ever make, it’s smart for college students and families to look into the answers to these questions.

1. What is the college or university’s room and board refund policy? 
2. Is it possible to get a tuition refund if a student withdraws? What is the “sliding scale” of the refund-to-withdrawal time line?
3. What are the college or university’s current Covid-19 policies?
4. What disciplinary action occurs if a student doesn’t follow the Covid-19 policies?
5. What are the student loan options with the CARES Act?
6. Are there more options to pay for college if families’ employment situations have changed? Can the financial aid office take another look at the student’s financial aid package?
7. What are some ways students can make money in college or through off-campus jobs?

College students and families are prudent  to individually assess their own personal situations when it comes to tuition insurance.

Student Life

Testimonial: Tuition Insurance Gives Peace of Mind to College Parents

July 30, 2020
Tuition insurance is smart for families to consider

Tuition insurance exists to provide a refund for a covered medical withdrawal when colleges and universities don’t. The best way for college students and their families to understand the value of GradGuard’s Tuition Insurance is to hear from a customer directly.

Anna learned about GradGuard’s tuition insurance before her son started college in New Jersey.

“We weren’t exactly sure if he was going to follow through on college,” Anna said. “He has some medical issues, so we weren’t sure exactly what was going to go on.”

Anna said it was in the back of her mind that Tuition Insurance was a good idea to have, so she purchased a policy for her son as a precaution.

“We weren’t exactly sure if we would need it, but we thought it was well worth it,” Anna said.

Worth the cost for peace of mind

Tuition Insurance can be purchased for as little as about 1% of the cost of tuition for the majority of schools that GradGuard directly partners with. That’s $10,000 worth of coverage for $106.

Anna’s son needed to withdraw from school for a covered medical shortly after the semester started. Because she had purchased a policy before the start of classes, she was able to file a claim for tuition and fees.

“The fact that it’s insurance and it’s peace of mind, and we actually had it, led us to feel more comfortable,” Anna said.

Thirty years ago, tuition insurance may not have been necessary, but today, given the high cost of college and ordinary risks of college life, it’s smart for all families to be vigilant.

“You just never know when you actually need it,” Anna said. “I would recommend it highly.”

College is one of the largest investments most families will ever make after buying a home. You insure your home, and your car, so why not also insure your tuition? You can with GradGuard’s Tuition Insurance.

Questions to ask your college or university:

What will happen to my tuition payment if my college student is forced to withdraw from school due to an illness or even COVID-19?

What is the school’s refund policy?

Do you offer tuition insurance?

GradGuard is thankful to work closely with more than 350 colleges and universities nationwide, including Ramapo College of New Jersey, where Anna’s son was enrolled. Learn more about how to buy Tuition Insurance for your school using GradGuard’s college search tool.

Other

Money Magazine: Tuition Insurance and Coronavirus

July 28, 2020
Some college families consider tuition insurance amid the pandemic

Chances are, college is the biggest investment families will ever make next to buying a home. According to College Board, the average cost of a 4-year public university for out-of -state students in $42,970, and $26,590 for in-state students. So it’s no surprise to see the growing interest in tuition insurance amid the pandemic, as college families are looking for ways to protect their investment.

Money Magazine contributor Joanna Nesbit interviewed John Fees, co-founder of GradGuard about how tuition insurance works, what’s covered, and what’s not.

How does tuition insurance work?

GradGuard’s Tuition Insurance reimburses tuition, room and board, and academic fees if a student completes a covered medical withdrawal. Plans also cover mental health conditions – which are on the rise among students – including depression and anxiety. Untimely death of a student or tuition payer may also be covered.

It’s important for students to know there are limitations and exclusions that apply, and plans must be purchased prior to the start of classes.

What isn’t covered by tuition insurance?

GradGuard’s Tuition Insurance is not “drop-out insurance.” As stated in the Money article, student’s can’t simply decided they need to go home. They must be assessed by a licensed medical practitioner and obtain a written recommendation to withdraw. Other exclusions include injuries during amateur sports competitions, participating in a riot, or pursuing in extreme sports such as mountain climbing or bungee jumping.

Pre-existing physical or mental health conditions might be covered. Fees advises that the best thing students with pre-existing conditions should do is to obtain a doctor’s note saying they’re well enough to start college.

Can tuition insurance help protect against uncertainties caused by the coronavirus pandemic?

Epidemics and pandemics are typically excluded from most insurance policies. But until further notice, GradGuard’s plans include coverage if a student becomes ill due to COVID-19. It’s important to be aware that if campuses close, and students are sent home again like they were in the spring, tuition and housing fees would not be reimbursed by tuition insurance.

GradGuard’s Tuition Insurance also does not provide refunds due to fear of being on campus, or if the method of instruction has changed — such as moving in person classes to online.

The bottom line:

Many families may not find the need for tuition insurance, especially if their student’s school provides a generous refund policy or they can afford the cost of an unexpected extra semester in the event the student had to leave school. However, most families find it difficult to afford the extra cost and thus are smart to purchase tuition insurance, and make sure their investment is protected.

Looking to buy tuition insurance? First, ask your school if they offer it. Another easy way to find out is to use GradGuard’s College Search Tool.

Other Safety

Top 3 Reasons College Tuition Insurance Is a Smart Decision

July 13, 2020

When college families and their students are discussing college, the topic of money always comes up in the conversation. For good reason too! Did you know that the combination of tuition, fees, and room and board charges average between $20,000-$50,000 a year?

For many college families, the expense of a higher education is one of the largest investments they will make. Since there is so much money at stake, we suggest that college parents make a plan in case their student is forced to withdraw from school due to severe injury or illness. Of course, if you are one of the few families out there that can afford to lose your large investment, then tuition insurance may not be necessarily needed for you.

However, for most of the twenty million college students and their families, the financial loss of an entire college semester is a burden big enough to break the bank. As a result, college families are smart to consider the purchase of tuition insurance prior to the start of the school semester.

3 Reasons Tuition Insurance is a Smart Decision

  1. If you can’t afford to lose the tuition paid for a semester at school – Tuition insurance can provide up to 100% refund of your expenses in the instance that a student gets severely ill or injured and needs to completely withdraw from the university due to a covered reason.
  2. If your school does not provide a 100% refund – Do you know what your school’s refund policy is? A majority of school refund policies do not extend beyond the fifth week of the semester, and many don’t refund the full cost after the first week of classes. Be sure to check with your school to see what their refund policy is so you can see how much of your money is at risk.
  3. If you have additional academic expenses – Even if the school does provide you with a 100% refund for tuition, most schools do not refund academic fees or student housing. Many tuition insurance plans can provide coverage for academic fees and student housing in addition to tuition.

Student health incidents like illnesses, accidents, and mental health conditions happen frequently, even to young and healthy college students. The good news is that college families can protect their investment by purchasing tuition insurance! Visit our website at www.gradguard.com/tuition to see the plans available on your campus!

Health Other

These four common medical conditions affect thousands of college students

June 26, 2020
Student medical conditions on the rise

The Coronavirus pandemic has forced millions of college students across the country to adjust to online-only learning. Although the virus has disrupted classroom instruction, the reality is that every year, ordinary medical conditions lead to students leaving school and losing money. And we’re not talking about having the common cold, or making a trip to the on-campus health clinic. These medical conditions are proving to have a major impact on students nationwide.

The 2019 National Student Health Assessment from the American College Health Association data reveals some of the risks that college students and their families face today. As we all adjust in the time of COVID-19, you can see the common illnesses that have a big impact on students. The assessment surveyed more than 30,000 students across 58 different schools.

Common illnesses have a big impact on college completion

The most commonly reported illnesses that had an impact on completing a degree include concussion, mononucleosis (mono), pneumonia, and flu or flu-like illnesses.

student health conditions and academic progress

During a normal semester, most schools provide a pro-rated refund through the fifth week of classes, according to a national study from Dec. 2019. This same study reports that 70 percent of schools have reported a growth in student medical withdrawals.

The ACHA assessment confirms the scale and impact of health conditions on college completion is real. The calculations are based on a total of 8.16 million full-time undergraduate students attending four-year non-profit institutions. 

These four conditions that students report delayed their academic progress are estimated to have cost students and schools more than $1 billion annually! And that’s from preventable financial losses.

Health conditions may lead to an unexpected withdrawal

The ACHA data reveals other student health conditions that may also disrupt an academic term or lead to an unexpected student withdrawal. Nearly a quarter of students reported experiencing anxiety, followed by just under 20 percent reporting depression. Celiac disease, PTSD, eating disorders and bipolar disorder followed. 

If you’re experiencing one of these health conditions while in college, you should know that that there are resources to help you get back on track to complete your education. GradGuard’s Tuition Insurance can provide refunds for tuition and academic fees if you unexpectedly need to leave school for a covered reason.

Adulting Other

The College-Bound Guide to Insurance: Be Sure You’re Protected as You Head Off to School

June 26, 2020

College students need a lot of supplies for college life. From bedding to electronics to school supplies, the costs can add up. In 2017, families spent as much as a mortgage payment or more on school supplies and that’s not counting tuition!

Is your college investment protected? Certain insurance products can help your family protect what you’ve invested in your student’s college experience, from personal property, to the cost of a trip to the campus health center during flu season.

In The Residence Halls

You’re probably bringing a laptop, smartphone, tablet, TV, speakers, dorm decor, clothes, and school supplies with you to college. Maybe you’ll even bring a bike or some furniture. The cost of these belongings can add up – what would you do if they all needed to be replaced due to a fire on campus? Or if your big-ticket items, like your laptop or bike were stolen – could you afford to replace them? Insurance can help you and your family protect your belongings if you face a loss or damage because of a covered reason, like theft, fire or water damage.

There are two primary types of insurance that can help you and your family protect your belongings while you’re at school: homeowners and renters insurance. If your parents have a homeowners insurance policy, you may already be covered, but be sure to check the specifics of the policy. Many homeowners policies will only cover full-time students living on campus, and often at a percentage (usually 10%) of the policy limits. Be sure to take into consideration the deductible, as well as a claim’s effect on the premium. Renters insurance can be a good alternative in these areas, as renters plans typically feature low deductibles and often low monthly rates.

To make the most of your insurance protection, you should create a home inventory of everything you’ve brought with you to school and how much it cost. Taking photos and carefully taking a record of everything you have will make it much easier to determine what has faced a loss if you need to make a claim. The total cost could surprise you, and knowing how much all of your stuff is worth can help you determine whether 10% of your homeowners limits or the limits you chose on your renters insurance policy are adequate protection.

The New York Insurance Association recommends that students ensure they have adequate insurance protection as well as taking a common-sense approach to protecting their valuables. They offer these tips to help students be mindful of their belongings:

  • Leave valuables at home if possible – While it may be necessary to take a computer or sports equipment to campus, other expensive items, such as valuable jewelry, luxury watches or costly electronics, should be left behind.
  • Mark your electronics – Label electronic items such as computers, televisions and portable devices like iPods with the student’s name or other identifying information that can help police track the stolen articles.
  • Always lock your room door and keep your keys with you at all times, even if you leave briefly. And not just at night—most residence hall thefts occur during the day. Insist your roommates do the same.
  • Do not leave belongings unattended on campus. Whether you are in class, the library, the dining hall or other public areas, keep book bags, purses and laptops with you at all times. These are the primary areas where property theft occurs.

Health

Newfound independence, the stress of classes, dining hall food, all-nighters, community living, partying – the college lifestyle, if unchecked, can take its toll on students’ health. Many schools require that students have health insurance, and for good reason: it can help protect students and their families from the high costs of medical treatments in the case of an injury or illness, like a sports injury during an intramural game or a case of mono.

Many schools offer students a health insurance plan, but often the most inexpensive option is for students to remain on their parent’s plan. Under health care law, young adults are allowed to remain on their parents’ plans until the age of 26. Check with your parents to see if their plan may be an option or speak with a licensed insurance agent to see what’s available to you.

In addition to health insurance, there are many ways students can take control of their well-being throughout the semester by setting time aside to eat well, exercise and manage stress:

  • Eat right. There’s a lot of temptation in the dining halls, but adding a side salad and ensuring that you get protein and vegetables and fruits each day will go a long way to giving your body the vitamins and nutrients it needs. It is important to maintain a varied diet and stay away from eating the same bowl of cereal for dinner everyday.
  • Stay hydrated. Swap sugary drinks for water. Getting 8 glasses a day can help fend off fatigue and keep you feeling good. It can be helpful to carry a water bottle such as a Hydro Flask with you to avoid becoming dehydrated during class.
  • Get sleep. It can be difficult to get enough sleep when there are so many deadlines, due dates, and social events, but you should do your best to get in bed at a reasonable hour and if not, take a nap during the day. Sleep helps your immune system and can help you retain information, so you’re not studying in vain!
  • Manage your stress. College comes with an inevitable amount of stress, but setting aside time to deal with it will make it much easier. Exercise, taking time to relax, reading a book for fun or setting aside an hour to catch up on your favorite show each week will help you unwind and appreciate the many opportunities college presents. If the stress of college life is too much, there are many resources on campus that you can turn too. Don’t wait until it’s too late.
  • Get moving. Exercise is an important part of a balanced lifestyle, and not only will it help you stay healthy, but it will also make you feel good too. Exercise for at least 30 minutes several times a week and try to walk as much as possible. Getting your blood pumping will relieve stress and help you study smarter. Your school may even offer fun classes such as spin or yoga which you can attend with your friends.

Tuition

Perhaps the largest expense of all, more than airfare, a laptop, gas or a flu shot, is tuition for many families. Luckily, this too can be protected by insurance. Tuition insurance can help refund lost tuition if a student should be forced to completely withdraw from school due to a covered reason. Many schools do not refund most tuition after the first couple weeks of the semester, which could leave many college families vulnerable. Be sure to check your school’s refund policy, which you should be able to find on their website, and consider whether you need more protection than it affords.

Travel

Whether it’s traveling to campus from home, traveling to study abroad, or bringing a car to campus, insurance can help protect students from costs that may arise if things don’t go according to plan, like a health issue abroad, a canceled flight or fender bender while at school. Depending on your situation, you may want to consider insurance protection.

Car insurance is required if you bring a car to school. Look for a plan that gives you adequate coverage, though you may have to spend more to get more coverage, it will minimize your exposure. Speak with an agent about what coverages are right for your vehicle. Don’t forget to ask if you qualify for a “good student” discount – you could save 5-15%!

Depending on how far away from home your school is or where you travel to during the school year, travel insurance could be beneficial to you and your family. Travel insurance has different levels of features that you can customize for your trip. Most people think of travel insurance as just covering airline ticket reimbursements in case something goes wrong, but it can also protect you financially if you lose your luggage or need to be airlifted to better healthcare, depending on the plan you select.

Insurance can help college students and their families protect their investment in education. Some of these protections may be beneficial to your family, while some may not. It depends on your situation and risk tolerance. If you have questions regarding your insurance coverage for college, speak with an insurance agent for more information. Have a wonderful and safe semester!