Tuition Refund
Student withdrawals can be a problem for private schools, colleges, and universities. Many tuition contracts obligate parents for full or partial tuition costs whether the student completes a full term or not. Tuition paid in advance may be refunded, or unpaid tuition obligation canceled, resulting in the institution suffering a loss of planned revenue.
In addition, strict adherence to this policy may place the institution in an awkward position as student withdrawals are often occasioned by family hardship.
Tuition Protector is an insurance program that protects schools' revenues and eliminates the financial burden families face when students are forced to withdraw prior to term completion.
Coverage Highlights
Click here to print the Tuition Refund product sheet.
The Tuition Protector program reimburses covered tuition at a selected coinsurance level when a withdrawal results from a covered cause of loss.
Basic Program
- 100% of covered tuition for medically necessary withdrawals, including 75% benefit for mental and nervous disorders.
- 100% of covered tuition for death of a tuition payer.
- 100% of covered tuition for death of a student.
- 100% of covered tuition for epidemic closure.
Optional Benefits
- 75% of covered tuition for involuntary unemployment of tuition payer.
- 75% of covered tuition for job transfer of the tuition payer.
- 75% of covered tuition for academic dismissal.
- 75% of covered tuition for disciplinary dismissal.
- 60% of covered tuition for voluntary withdrawal.
Enrollment Options
Compulsory Coverage: All students are automatically covered. Premiums are paid by the institution and may be included with tuition fees. All families receive certificate of insurance.
Mandatory Coverage: All families that do not pay the full annual tuition fee in advance are required to participate.
Opt-Out Coverage: Each family is automatically enrolled for coverage unless they opt-out of the tuition contract.
Voluntary Coverage: Parents are given the option to purchase coverage.