My daughter’s University does not offer tuition insurance, so I am looking into what I can purchase on my own. The only thing I can find is Tuition Refund Insurance through College Parents of America. Does anyone here on CC have a membership with them, or get insurance through them. The cost seems good, but I trust this site for info, so wanted to check here. Thanks.
I remember we purchased something similar to this, but I think it is not the same company. But I forgot the name of that company. That company was introduced to us by our child’s school. We only bought it for his first 2 (or 3?) years because we wanted our child to have a choice to “back out from this program” instead of feeling he had no choice but be stuck with this program due to the student loans. (Our insurance was not for the college, for which we had saved enough before his college started and he had to get a college degree anyway no matter what.)
You double-checked this site? http://www.collegerefund.com/
And according to this, only two companies offer tuition refund programs:
http://www.fastweb.com/financial-aid/articles/is-tuition-refund-insurance-worthwhile
the one above, and this one: http://educationinsuranceplans.com/
This WSJ article mentions a couple more companies, including CPA. I also googled and saw that UC Berkeley uses a 3rd party company for their insurance. I don’t recall the name but I’m sure it’ll be easy to look up.
http://www.wsj.com/articles/SB10001424052748703908704575433771958098774
Both D1 and D2 universities sent home a pamphlet a few weeks ago describing the plan and what it covered etc. I Then there was a sign up form to mail in if we wanted to buy this. I don’t remember the name of the company since I deep-sixed it, but if I were to sign up for this, I would probably buy it from who my university recommends.
Thank you for your replies. I haven’t had internet service since posting. Since my D’s university doesn’t work with a company for tuition insurance, I just feel very unsure. I will check out a couple of links. Thanks again!
Please tell us what you find out!
Dewar’s is used by the colleges my kids attended.
I used them with D1. I thought that they stopped offering new policies and were just offering a token amount.
D2’s schools uses Dewar’s. They actually paid a claim, no problem.
I’ve been researching this a bit as I am on the fence about getting it. Most of the policies only refund for medical or mental illness - not if your child decides this is not the right place or right time for university and wants to back out. Also, most only refund a portion of the tuition. Take a look at your school’s refund policy (it’s usually graduated - x amount refund if withdraw by this date, y amount if later and so on). Most also do not allow for pre-existing conditions so if your child as a particular health issue that could cause them to withdraw, it may not fall within the guidelines for the refund. I’m generally reading that is more peace of mind than good value so you need to decide how affordable it is for you.