At Canisius, we know your college education is an important investment. That’s why we partnered with GradGuard to offer Tuition Insurance Protection as another option for our students and families.
The Tuition Protection Plan provides financial protection beyond the College’s refund policy and can reimburse up to 100% of your nonrefundable school expenses if you completely withdraw from the College for personal reasons such as:
• Serious injury or illness, including mononucleosis, COVID-19, or severe head injuries
• Chronic illness, including diabetes or auto-immune disorders
• Mental health conditions, including depression or anxiety
What are the benefits of tuition insurance?
• Protect up to 100% of your investment in higher education and other covered school-invoiced fees
• Reimburse tuition payments and other school-invoiced fees after a withdrawal for a covered illness or injury
• Enhance your financial protection beyond the scope of the College’s Refund Policy
• Withdraw from all classes at any time during the semester without financial penalty
• Access a 24-hour Student Life Assistance hotline for help in navigating emergencies and unexpected issues
**Tuition Insurance is Optional**
The insurance agreement is between you and GradGuard. Canisius is not a party to the agreement.
What is the Deadline to Purchase?
If you choose to purchase tuition insurance, you must do so by the first day of classes each semester.
What is the Cost of Tuition Insurance?
The cost of coverage is approximately 1.1% of the insured amount. For example, the cost to insure $12,000 would be $132.00. $12,000 x 1.1% = $132.00. The insured default amount is $12,000 per semester, but can be changed to any amount based on your individual needs.
You can choose your coverage limit, and reimbursement can include:
• Tuition payments
• Housing and Food
• Other academic fees and expenses
Tuition insurance plans also include Student Life Assistance, a 24-hour emergency hotline that helps students stay safe on and off campus–providing you and your family with even more peace of mind.
To get a quote or to learn more about selecting this optional tuition insurance, please visit the GradGuard™ website or call 877.794.6603.
FAQ’s
Why might I need tuition insurance?
Tuition insurance allows you to protect your investment in higher education. Tuition insurance can reimburse you for non-refundable tuition, fees, and room and board costs (up to the amount of your policy limits) should you have to withdraw from school for a covered reason.
Do I have to purchase tuition insurance?
No, you do not have to purchase tuition insurance. Tuition insurance is completely optional.
Why is Canisius offering the option of tuition insurance?
At Canisius, we know your college education is an important investment and we want to offer you the option to purchase tuition insurance if you’d like to. Canisius has partnered with GradGuard to offer Tuition Insurance Protection to students and their families.
Does Canisius make a profit from tuition insurance?
No. Canisius does not profit from the insurance policies.
What does tuition insurance cover?
Tuition insurance can reimburse you for up to 100% of tuition costs, as well as fees, room, and board if you need to withdraw from school for a covered reason.
How much will the insurance cost?
The cost of coverage is approximately 1.1% of the insured amount. For example, the cost to insure $12,000 would be $132.00. $12,000 x 1.1% = $132.00. The insured default amount is $12,000 per semester, but can be changed to any amount based on your individual needs.
Will this insurance cover my school expenses if Canisius shuts down due to COVID-19?
No. This insurance does not cover adjustments, disruptions or withdrawals due to changes in college operations as a result of COVID-19, such as changes to instruction delivery methods, the availability of housing and dining plans, or other adjustments to campus operations made by Canisius or directed by state/county/city officials. It covers withdrawal from the College for a covered reason, which includes personal illness from COVID-19.
Aren’t I able to receive a refund through the College’s withdrawal process?
Yes. Depending on the date you withdraw from the College, all or a portion of your tuition and fees may be refundable by the College. The tuition insurance can reimburse you for nonrefundable expenses, including any tuition and fees that weren’t refunded by the College, room and board, and up to $1,000 of other school expenses such as books and parking.
Does the tuition insurance cover expenses if I withdraw from one of my courses?
No. Tuition insurance only covers you when you withdraw from ALL classes during the term for which you purchased tuition insurance.
What if I have additional questions?
If you have additional questions, please contact GradGuard at 877.794.6603.