Tuition Protection
TUITION PROTECTION FOR YOU AND YOUR FAMILY
Who needs tuition protection and why has it become so important? Many parents don’t realize that withdrawals can be highly problematic for students at private schools. Most private schools require parents to pay for partial or full tuition regardless of whether or not a student completes their full term. And tuition costs can be significant, with the average annual cost of private high schools in the US at approximately $15,000 a year, and private colleges at about $50,000 per year.
That’s why parents and guardians need tuition insurance – it helps protect the investment parents make in their child’s education. Tuition insurance will pay the school the remaining portion of tuition and fees up to the co-insurance percentage listed on the policy, for all covered causes.
Here are some common questions parents ask about tuition insurance programs:
What types of causes are covered by tuition insurance?
There are many covered causes. These may include when a student is withdrawn from school due to:
- Medical reasons
- Academic or disciplinary discharge
- Tuition payer’s loss of job
- Tuition payer’s job transfer
- Death of the tuition payer
- Other reasons
It is recommended that parents review their specific school’s policies for coverage and co-insurance percentages.
How much does tuition protection cost?
The premium varies by school. Parents should contact their school administrators to learn more about their premium.
What type of school costs are covered?
Typically, tuition, fees, and room/board are covered. Parents should refer to their specific school’s policies for details.
How is tuition insurance purchased?
Coverage can be purchased through your school’s plan during the enrollment period.
How are tuition insurance claims filed?
Filing a claim is easy. Parents or guardians can click here to file a claim online 24/7. Claim forms are also available at the participating school’s business office. Or claims can be filed by emailing claims@protectmytuition.com.
ProtectMyTuition™ provides a customizable tuition protection program to help parents and schools protect their bottom line. Contact us for more information at 844-515-4197.