tuition, room and board refund/reimbursement insurance?

[georgemma]

<p>Hello all – When in doubt, ask on CC! I have not been able to decide about the refund/reimbursement insurance offered by Dewar. I guess that not spending $300 and having to shell out (hmm, well you all know how much) a year’s tuition, room and board in case of illness or an accident is crazy. Has anyone else used Dewar, the company that works with the D’s college? She’s a freshman, so I don’t know too much about these things. Any response would be appreciated, and I am sorry if the question has been asked numerous times before. I looked through the search but couldn’t come up with the appropriate answer. Thank you – Georgemma</p>

[itstoomuch]

<p>Recognize that it is insurance. And insurance is a form to transfer risk.Some people may think they need it and Dewar thinks it can offer a product and will supposedly make a profit. </p>

<p>Some points to consider:
Can you actually afford the $300?
If you are on fullride should you spend $300 that reimburses you no dollars?
If you are paying COA at what you think is costly, is the $300 a large cost in comparison?
How healthy is child mentally, physically, and emotionally?</p>

<p>We bought it for freshman year. Cost was 1% of what we paid for COA. Fair. IMHO.</p>

<p>Transportaton costs was 3% of COA.</p>

[newmassdad]

<p>Why in the world any one would do this is beyond me.</p>

<p>First, you are not on the hook for the full year, only the current quarter/semester. No school will force collection of second quarter charges if one leaves before the start.</p>

<p>Second, most schools have refund policies for withdrawel early in the term. And the combined school/Dewar payout is only 90% </p>

<p>Third, look at the coverage:</p>

<p>

What Is Covered?</p>

<pre><code>* Injury and Sickness Withdrawals
90% of the insured term tuition and fees, less any refund or credit due you from the University, will be refunded provided your medical condition is certified by a licensed physician and forces you to completely withdraw from all classes for the balance of the term.
</code></pre>

<p>In the case above, a “complete withdrawal” from the University is required. This means you have given written notice that because of your injury or sickness you will not be able to complete the term and you will not receive any academic credit. A written statement from your doctor certifying the injury or sickness and college verification will be required.

</p>

<p>Then look at the exclusions:

What Is Excluded?
Note that the Plan does not cover the following: · war or any act of war, declared or undeclared · terrorism · the use of any drug, narcotic or agent which is similarly classed or has similar effects, (excepting when it is prescribed by a doctor) · taking part in a riot · failure to attend classes for any reason other than injury or sickness · withdrawal when the student receives credit for an incomplete term · suicide or intentional self-inflicted injury or sickness · nuclear reaction, nuclear radiation or radioactive contamination

</p>

<p>Note that an injury caused by alcohol intoxication could be excluded.</p>

<p>Most kids that leave school unplanned are physically able to attend.</p>

<p>And many kids that leave late in a term (where you lose the most) can get incompletes and make up the work later.</p>

<p>IMHO, these plans are money down the drain.</p>

[HImom]

<p>So much depends on the individual situation. IF the child has a health condition that MAY cause the child to have to withdraw from school, it MAY be good to consider tuition insurance, which my child’s school encourages families to purchase.
Even if your child does get a merit scholarship, if the student is forced to involuntarily withdraw from school, the terms of the scholarship are violated and you may have to refund what was paid by the school or in any case that will be one less term of tuition for your student (generally only 4 full years are funded for even the best students). Each family should read the terms of the insurance & decide the relative risks & benefits of the insurance & how well they could afford it if the child were to have to leave school.
As I said, we purchased the insurance for son’s 1st term in college & will see how that goes. We may not purchase it in the future & it’s only less than 1% of the cost of his tuition (tho room & board are not covered). Tuition at my son’s U is over $16,000 for each of the 2 terms, which is a big amount to us.
They offer tuition refund insurance at my children’s private school & we’ve never purchased it & don’t plan to, as the school is good about working with families & individual students.</p>

[georgemma]

<p>Thanks again, newmassdad, for your dead-on insight. That was pretty much along the lines of what I was thinking, but it was worth asking. Thanks to all who responded.</p>

[NJres]

<p>are hurricanes covered?</p>

[newmassdad]

<p>NJ,</p>

<p>Hurricanes? Only those prescribed by a licensed physician, preferrably in New Orleans, in a proper glass.</p>

<p>Otherwise, I’ve never heard of a hurricane medical condition…that’s what these policies cover.</p>