Agree with these posts on the logic.
FWIW, I can’t think of a school from our list last year that didn’t require insurance if you don’t pay all up front. So I do think at most places, it’s optional only if you pay everything in advance.
1 Like
Of course the one with insurance. However I have no rights to force everyone driving behind me to be insured (although the gov does) just because there is a tiny chance of being rear ended. Similarly the school should not require everyone to pay for tuition insurance. They certainly can and have the power to do so but they shouldn’t.
I understand many families don’t care about 15k, but I’m sure some families would rather get a MacBook for the kid than insurance.
1.5k, not 15k
When you get over 90% FA, a MacBook doesn’t come to mind.
At my DC’s BS, those who pay tuition in one payment can choose not to get insurance.
Apparently Choate would rather forgo the inconvenience of arguing over a refund.
I imagine that, should a disgruntled parent without insurance push the issue, the legal costs and potentially bad publicity could be… irritating for a school, even if contractually, no refund was due.
I can tell you even though it was in the contract, parents always professed surprise when told they had to pay the year’s tuition. And yes, it is tough for the school to hold parental feet to the fire, though for the most part, they did it.
FWIW, Choate does not make the tuition insurance optional for those paying in full in advance. Not a criticism, just a fact. I suspect there is a group or bulk purchasing arrangement with the underwriter that results in lower cost to parents, though all have to pay.
I meant to say the tuition insurance is 1.5k for full pay, 60k*2.5%. With that money you can buy a MacBook.
The parents who pay in advance basically subsidize those few that leave early.
If the way any school handles tuition insurance causes anyone heartburn, they are free to choose another school. I guess we now have another item to add to everyone’s list when comparing boarding schools.
2 Likes
No prospective student or family will put 1.5k above fit and other more important factors. That’s for sure. I’m just surprised no parents of current students have a second thought about it. Especially those who pay in full in advance. That’s why I said maybe many families don’t care about the 1.5k that’s automatically included in tuition.
If I’m not mistaken, Choate is not the norm but an exception, right?
Choate gives a 1% discount if you pay the tuition in full in July, so that is effectively similar to schools that waive the tuition refund insurance for lump sum payment which is how many of them operate.
2 Likes
Make sense.
Yes get the insurance. Well worth the peace of mind.
1 Like
Could someone explain how the tuition refund program works? Going through contract stuff with parents and when the 9th grader is the best English speaker in the household I’m afraid of possible misunderstandings and regret later on.
How do refunds in general work? Do you not get a full refund if you withdraw?
I know at Hill you get 60% of the tuition of the amount of school you’ve missed if it’s before May of 2022. ex: you’re only there for 1/3 of the year, you get 60% of the tuition for the rest of the year.
At Hill, financial aid is subtracted from the value.