Considering these expenses, the worst-case scenario for families is when their student has to withdraw from school after these costs have been paid. While you might get a refund, 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.
Fortunately, a form of protection exists in tuition insurance, which will pay out in particular situations and serve as a valuable financial safety net for college students and their families if they have to pull out of school. Learn more about tuition insurance, what it covers and doesn’t cover, who offers it, and if it’s a worthy investment by reading my latest article for Forbes Advisor, available here.
