<p>What are parental thoughts about tuition insurance?
It costs 2.3 percent of the tuition bill.</p>
<p>I did it the first year - just in case! I did not do it after my daughter's freshman year. Her school requires it for any student on a tuition payment plan.</p>
<p>I declined, as it is the same percentage of the total tuition whether or not you are on FA. And my D's school required it for anyone on the payment plan as well.</p>
<p>However, if you have any doubt that your child will not want to finish the year, it is probably worth the peace of mind.</p>
<p>I suspect it's a money maker, but I took it out last year and I think I'll do it again this year. After that, I might stop. At my son's last independent school, I took it out in early years and then stopped.</p>
<p>We did it the first year, then stopped the next year once we realized the school was a great match. It's pretty expensive over the long run.</p>
<p>Thanks all of you! I did it automatically for my daughter for all four years, and then one year for my older son (and two years did not). I am thinking of not doing it for my younger son. I think the school is a very good match for him.</p>
<p>I've used it once...when there was a possibility of relocation.</p>
<p>The policy we had at my son's school allowed for a reduced refund percentage in case of relocation. Some policies don't cover that. Although for boarding school I suppose that aspect is moot.</p>
<p>The payouts you would get are not good. Better than nothing, but not good. If your child might not complete the year for some reason -- although expulsion would not be "some reason" -- it better happen early on.</p>
<p>The coverage at my son's day school started a pro rata reduction in payback...and then only for a percentage of the tuition, never the full amount...from the first day of school. Depending on the reasons for making a claim the % might be 2/3 or 3/4 of the full tuition (reduced by the % of days attended).</p>
<p>The one year that I did I was able to write the check a full week into the school year. The thing is that the bigger payouts are available early in the year, when you have a much better sense that your child will still be at school. The further out you go, I suppose the more risk there is that something will happen that will make you want to pull the child out of the school...but the further out you go the lower the payout is. REALLY low in the case of the policy at my son's day school.</p>
<p>I would take a close look at the policy's coverage, the exclusions, the payout and the deadline for buying the coverage. If I'm considering buying it, I'd wait until the last second.</p>
<p>We are required to do it at our son's school if the entire bill isn't paid in full at one time. It is a percentage of what you actually pay, though (less FA).</p>
<p>I have to decide by may 14th whether to take it or not. We have a whole packet of stuff that needs to be sent back by then.</p>
<p>haha may 14th is my birthday.
i dont think im getting the insurance cause its too expensive..</p>
<p>dont get it it's a rip off. :)
unless u r sure u r gonna get kicked out:p
i dont see the point of getting it at tall</p>
<p>thanks bearcats! I sent in the decision today not to take it.</p>
<p>i think parents should talk to their son/daughters. i do know people who werent on the insurance and they needed to go on med leave after fall term.</p>