Most of us are very familiar with policies insuring houses or motor vehicles, but not many people are aware of existence of tuition insurance policies. Typically, they will provide tuition reimbursements in cases when you are forced to withdraw due to an unforeseen medical event. The inquiries regarding this type of insurance increased this year, primarily due to the global pandemic that affected our lives in most dramatic ways. There are different types of coverages available, and not each one of them makes sense to all interested parties.
- Tuition insurance can help you refund your college costs in case you need to leave due to an unexpected medical event.
- When it comes to tuition insurance you also can include psychological issues such as substance abuse and mental illness.
- If you are planning on moving to a college closer to home, call your insurance provider to see if they can transfer your plan to your new college.
“Check out our cheat sheet for what you need to know about tuition insurance, especially this year.”