In a bid to bolster its tuition protection program, GradGuard, a leading provider of college tuition and renters insurance programs, has unveiled a significant enhancement.
The company has broadened its coverage to encompass the loss of employment of a tuition payer as a valid reason for withdrawal. This development underscores GradGuard’s commitment to offering comprehensive support to students and their families in navigating unforeseen circumstances affecting their educational journey.
This latest benefit is exclusively available on GradGuard’s Active Choice plan, accessible for purchase through partner schools. While tuition insurance traditionally reimburses for medical withdrawals due to covered illnesses or injuries, and unfortunate events such as the death of a student or tuition payer, this innovative addition extends coverage to instances where a student withdraws due to the termination or layoff of the tuition payer by their current employer.
It’s worth noting that this coverage excludes terminations stemming from seasonal or temporary positions, or those due to the fault of the tuition payer. It’s also important to mention that this benefit is currently unavailable in the state of Washington.
John Fees, co-founder and CEO of GradGuard, emphasised the company’s dedication to assisting college students and their families during challenging times. He remarked, “GradGuard aims to help college students and their families overcome events that may disrupt their college education. We understand that the unexpected loss of a tuition payer’s job can have a devastating impact on a student’s ability to continue their education.
“By working with our partners at Allianz Global Assistance to include this coverage, we’re providing an extra layer of protection for students and families during these uncertain times.”
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