1. Do you know your school’s refund policy?
“Most colleges and universities will only issue partial refunds after the semester has started, according to bankrate.com1. “Few, if any, will return any money after the fourth week.” It’s important to educate yourself on your school’s refund policy before the semester starts to make sure you can protect your investment no matter your school’s policy.
2. Would you be able to pay for an additional semester if your student had to withdraw?
According to College Parents of America, more than half the parents surveyed said it would be difficult to pay for an extra semester; with 26% saying it’s not an option3. “With the average total cost of college tuition, fees, and room and board now running around $41,000 a year at four-year private institutions,” notes bankrate.com2, “you might be tempted to buy tuition refund insurance.”
3. Is your student managing a chronic medical condition?
Many students go to college successfully managing a chronic condition, only to experience a setback once exposed to the daily stresses of college life. Allianz Tuition Insurance offers several plans that can reimburse tuition and fees even when a withdrawal is the direct result of a pre-existing medical condition.
4. How good is your student at managing stress?
About one-third of U.S. college students surveyed reported difficulty functioning in the last 12 months due to depression, and almost half said they felt overwhelming anxiety in the last year4. If you think your child is at particular risk, remember that for just $29.95 per term, Allianz Tuition Insurance offers reimbursement up to $2,500 for withdrawal based on a covered mental health concern, with a 100% reimbursement option also available.
5. How far away is your student’s school?
When students are far away, there’s only so much even the most plugged-in parent can do. With Student Life Assistance (built into every Allianz Tuition Insurance Plan) there’s always an expert standing by who knows exactly what to do in the event of a medical emergency or travel mishap.
6. How much better will you sleep at night?
While Allianz Tuition insurance offers many practical benefits, it also delivers the peace of mind of knowing if something happens, there’s someone who can help, right away, 24/7/365. Then, if withdrawal becomes necessary, you can recoup covered tuition and fees and protect the important investment you’ve made.