In their original 2009 insurance policy plan, GradGuard decided not cover student withdrawal in the case of a pandemic. But as COVID-19 made its grip on the nation clearer, GradGuard’s CEO and co-creator John Fees decided he needed to rewrite the rules. During 2020, GradGuard was the only tuition insurance plan that fully reimbursed student withdrawals due to COVID-19.
GradGuard is a program manager that sets students up with insurance that covers 100% of their tuition, room, board, and school fees should that student need to withdraw due to physical injury or illness, chronic illness, or a mental health condition. Most institutions do not offer any return on investment should a student drop out after the first few weeks in the semester. With the cost of higher education continuing to rise, the risk taken by low-income families to invest in higher education has become more serious.