The coronavirus emergency is creating a lot of uncertainty around the upcoming school year and many colleges and universities are opting to go fully remote for the fall semester.
With some schools choosing to welcome everyone back to campus, a Boston-based company is urging students and parents to purchase tuition insurance before entering into the uncertain school year.
“We just hope to give them that peace of mind with so much confusion and anxiety out there right now,” spokesperson Natalie Tarangioli said.
Grad Guard has added COVID-19 as a covered medical exemption to the list of other mental and physical illnesses they cover.
A spokeswoman for the company said parents and students began expressing concern when the outbreak first hit the U.S. during the 2020 spring semester.
“College is a big investment, refund policies are really not generous at all,” Tarangioli said.
Dawn Ferrazza and her husband have two kids in college and they felt tuition insurance was worth the investment for their family.
“If they were to get sick, we have one who has asthma, the likelihood of them being out for a longer period of time is higher,” Ferrazza explained.
The policy must be purchased through Grad Guard before the start of the school year. Should a student become infected and have to leave school, they would receive a refund for tuition and other fees.
“It’s not necessarily everything that would be covered but a good chunk of your college money that you’re spending beyond just tuition will be covered,“ Tarangioli said.”No one wants to think about bad things happening.”
The company is affiliated with more than 350 schools across the country including several in Massachusetts.
Rates for a majority of partnering schools start at $100 for 10,000 worth of coverage.
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