Tuition insurance

barbfam1
Sun, 01 Jun 2014 23:01:45 +0000

I bought the insurance and was so happy I paid the less than $500.00 to buy it. My son went to an ivy for the full price as we did not qualify for F.A. I make a good salary as a University professor at an Ivy (not same one as DS went to), but my DH was out of work for about 6 years prior to that and we spent most of our savings during that time. So we had to borrow most of tuition, except for the 15k that my University pays as a “benefit”. Within the first 2 months of school, DS got pertussis (whooping cough) and he was sick for weeks, missing many classes, etc. After meeting with a Dean, it was decided it was best to pull him out of school as a medical withdrawal, and once he recovered at home, he did the gap year thing, which involved doing medical research, getting his EMT certification, and working in Finance for a friend’s father. Ended up being a great TWO years of his life, and he will restart his freshman year this fall (he was ready to start back at college last August, but his Finance job project was mid-stream and they asked him to stay on at the company, which at $25.00/hour was hard to pass up.). We were eligible for an 80% refund of the tuition, and with a few phone calls and faxed physician notes, the borrowed PLUS Loan money went right back to the loaner, and it was as if we never borrowed it and the 15K from my university went back in their coffers. The tuition insurance company was extremely easy to work with (located in MA, but forget the name). It was the best $400+ I ever spent in my life!!!