Aug 22, 2018, 9:37 PM
(from The Student Loan Report) Business is booming for some companies that sell tuition insurance, due to a combination of rising tuition costs, mental health woes among students and families growing increasingly nervous about potentially losing tens of thousands of dollars. John Fees, co-founder and CEO of a tuition insurance provider called GradGuard, told The Wall Street Journal that his company sold 70,000 policies this year, up from 20,000 five years ago.
A spokesperson for A.W.G. Dewar said the company's tuition reimbursement claims have remained steady for physical illnesses but have increased for mental health issues. She said the firm sold most of its policies to first-year families. Up to a quarter of all college students at "elite schools" are considered disabled due to mental health issues like anxiety or depression, according to the National Center for Education Statistics.
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