Wondering if anyone has participated in the tuition refund program. Cost is 2.5% of tuition. Is it worth it?
Many schools will require you to get the insurance if you don’t pay for the full year in the summer. It may not be an option. We always opted to pay upfront. And we were fortunate that DS never needed to withdraw for health or ot9readons.
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Thank you
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If your child has to withdraw you will be on the hook for the full tuition amount, even if they leave in September. I have seen a school be very insistent about getting paid, and have seen several parents shocked that they are expected to pay for the full year even though the student has left.
It really depends on how risk averse you are!
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We pay in chunks and an insurance fee for tuition is part of the payment plan.
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We used it. I think it was required.
And, I was VERY glad we did it for the first year at least, because it made the financial piece of the equation far less important as we considered whether my daughter should continue at a school that was not a fit. (Note, you don’t get ALL the money back, but enough – I want to say 65% – that we didn’t feel inclined to have her “stick it out” for financial reasons when it just was not working.
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And of course there are various exclusions.
(Not that any of us have children who would assault a roommate, for example.)
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Choate required every student to have tuition insurance and buried the cost in the tuition.
TUITION REFUND PLAN
All Choate families are automatically enrolled in The Tuition Refund Plan developed by TuitionNet. The Tuition Refund Plan will pay benefits (subject to its terms, conditions and limitations) to the family of a student who, for various reasons, is unable to continue attending the school.
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No wonder Choate is a little more expensive than say Deerfield or PA
Choate tuition is cheaper than Deerfield, has always been by a little bit, Choate is actually cheaper than most of its peers. PA is and exception (and PEA as well I think), their massive endowment allows them to subsidize tuition more for everyone and they choose to do so.
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Not this year. Deerfield is $62 and Choate is $63+ tech fees based on their websites
Oops, my bad. Deerfield website shows last year number. Unless they freeze tuition, it’ll be a little higher than Choate
Plus, you have to figure the cost of ties, collared shirts and dry cleaning at Deerfield. Wrinkled sweatpants for Choate is far less expensive. 
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I think Choate should leave the decision to parents. Most people will not need it, so why force everyone to pay?
Hardly a dealbreaker.
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@G07b10 , because the school needs to know it’ll be paid if a student leaves. They lock in all their costs at the beginning of the year and can’t replace a departing student in December. This is how they ensure that you’ll keep your end of the bargain. Remember that usually when a student leaves, there are other things going on that might make the family less willing or able to pay.
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Other schools have language in their contract that the parents are required to pay even a kid leaves. Parents will not get away with it.
One of our lot went to a school that required it in the 1st year, and I chose to continue it in 2nd year b/c I had concerns about how it was going. Was very glad that I did, as we ended up pulling her from the school. She had to attend for a specific # of days before it would kick in. We got enough back to be meaningful.
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This makes perfect sense. Thanks for sharing.
Would you rather be rear-ended by someone with or without auto insurance?
Yes, the person who rear-ended is responsible, but if they are insured you are more likely to get your auto repairs paid for.
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