College Tuition Insurance

College Tuition Insurance is a type of insurance designed to protect students and their families from the financial loss associated with the non-refundable tuition and fees if a student has to withdraw from college for certain covered reasons. These reasons typically include illness, injury, or other unforeseen circumstances that prevent the student from completing the semester.

Examples:

• A student suffers a serious illness that requires hospitalization, leading to a withdrawal from classes mid-semester. Tuition insurance would reimburse the family for the non-refundable tuition fees.
• A student is injured in an accident and cannot attend school for the remainder of the term. The insurance covers the lost tuition costs, easing the financial burden on the family.

Cases:

• In 2020, a student enrolled in a private university purchased tuition insurance. After contracting a severe illness, they had to withdraw from the semester. The insurance reimbursed them for over $15,000 in tuition costs.
• A student with a scholarship took out tuition insurance. Due to unforeseen personal circumstances, they withdrew after a few weeks. The insurance covered the remaining tuition balance, allowing the family to recover some financial losses.