November 1, 2022

Is tuition insurance worth it?

Pursuing a college education involves a significant investment. Case in point: The average annual tuition for public in-state four-year universities is $10,740. Public four-year out-of-state university tuition averages $25,760 a year. Private four-year universities charge $38,070 on average, based on College Board data for the 2021-2022 academic year.

But what happens if you send your child to college and they drop out? You might get a refund, but depending on when the withdrawal happens it may not be the full amount paid for tuition, fees, room and board and other expenses. In fact, the entire amount may have to be forfeited. Tuition insurance can help protect against this situation.

Learn more about the pros and cons of tuition insurance by reading my newest story for Forbes Advisor, available here.