Did anyone sign up for this refund plan? It’s $329.63 due Aug 23. Do most people buy this insurance? Would Cornell really keep us on the hook for the full yearly tuition amount if our student experienced an unfortunate event such as death, illness, car accident, etc? What do you all know?
I don’t have a student in Cornell (but I’m a graduate), but in general tuition insurance is a good idea. The bursar’s office is not your friend. They don’t give refunds if it’s past the deadline for refunds. I don’t know about death, but would you want to be in a position of fighting with them in such an event?
Some people think tuition insurance is an expensive product for the potential loss, but it’s up to you.
No.
This was the first time I saw this type of thing and it went straight to the recycling bin.
Most schools where there is a tuition offer such insurance, and that includes some private secondary schools. And Yes, they would stick you with your bills. If you have outstanding balance, they would withhold transcript and diploma. If you do not pay the tuition on time, your kid wouldn’t be able to register for classes. As stated by the above post, the bursar office is not your friend. They are very nice and friendly, but they have a job to do. They have waived late fees for me once or twice when there was a mistake (they billed me for insurance when my kid got a waiver).
@oldfort Did you purchase this insurance for Cornell?
it doesn’t help with late payments etc. Appears to just cover a large portion of the tuition in the event of medical issues that would force a child to be away from school or drop out.
Can you afford to lose the tuition money you’d have to pay if your kiddo couldn’t finish a semester? If not, I’d buy the insurance.
Yeah. I guess we’re already on the hook for $280K. What’s another $330 to potentially avoid losing some of that $$ in the event of misfortune.
I am just feeling the pain right now as tution was just due this week. I hope recipients of fin aid at Cornell are very appreciative that they are paying less for the same education my child is getting. I know Cornell was a choice, but we are not wealthy. Others may not have to worry about things like this extra $330 tuition insurance.
Yes. I’m grumpy this morning.
In my mind, it’s yet another way for them to make money. They could forgive tuition in the event of an emergency if they wanted to; they would just rather not PLUS make more money on insurance. Boo.
Cornell is not the issuer of insurance.
Yes, Cornell could forgive tuition, but guess who would have to make up for it. Yup, you and me. Kind of like saying Saks could afford to take the dress back after someone wore it for an event and didn’t like it any more, but Saks would build it into their cost and the consumers would pay for it.
My kids went to a small private school with 120 students per class. If a student should drop out without paying, it would be 40K+ yr for the school.
I hear what you’re saying @oldfort but with a school like Cornell, you’d think a student could be replaced pretty quickly from the wait list or something. So many qualified are sadly turned away. I guess using an insurance company makes it easier for Cornell though. Thanks for the explanation.
Cornell will refund tuition on a prorated scheduled based on the date of withdrawal. Up to 10/17 in fall student could get 40% of tuition back. After 10/31 student would forfeit 100% of tuition. I randomly checked few other schools, and Cornell refund schedule appears to be more generous, some schools do not give refund after 4th or 5th week. I think the reason being it is hard to get a WL student or transfer student to come in the middle of semester.
https://www.dfa.cornell.edu/bursar/students-parents/leaving
@oldfort
Is your CC name in reference to the town in NC of that name, or a version of “old fart,” or something else? Just curious.
Thanks for going the extra mile and taking the time to research those dates and the Cornell refund policy. I have decided to buy the insurance, just because I am risk averse and would rather not have an unfortunate incident with my son AND have to forfeit a bunch of $$. Of course, like any insurance, I know that the contingencies and amounts paid out will not work in our favor.
Our goal is for him to graduate in four years, so that we don’t have to spend more than four years of tuition for undergrad. If he gets sick and has to drop out for a semester or more, this refund insurance would help us pay for the extra time he would need to graduate.
Thank you to the posters here for helping me think through this. Let’s hope the insurance is never needed!
I prefer old fart, but it is neither. 
I guess we’ve been lucky. My son has had to take three medical withdrawals. One was early in the semester, but two were late in the semester. We’ve always been refunded all our money. We just had to submit supporting documentation that he’d been hospitalized.
@MaineLonghorn sorry to hear about your son (we came close to that Freshman year and it was stressful) but I am glad to hear you were refunded your money. And I’m not falling for…I mean…buying the insurance. To me it just sounded like another reason for someone else to make a buck. See… Cornell did have heart when someone fell ill.
Oops, I should have clarified that the withdrawals were from UT-Austin and the University of Southern Maine. Both schools were so helpful and kind.
I was just talking to my son tonight about using hand sanitizer & washing his hands a lot because of germs /bacteria that will be prevalent in the dorms. He never got sick once in HS, so he is due…and living in a dorm will be different from living in a relatively clean house!
@MOMANDBOYSTWO
I hear you. We are full pay as well and far from being rich. To answer your question, no we never bought the insurance. DD is junior this year.
There are so many people from so many different places at Cornell, you’re bound to get sick. A few times a year, the “plague” passes through campus. Last October, almost half my floor had colds. Crazy stuff.