At Canisius, we know your college education is an important investment. That’s why we partnered with GradGuard to offer Tuition Insurance Protection. GradGuard's Tuition Insurance Plan helps students and their families overcome the financial losses that may result from events which force students to withdraw from the term due to a covered medical reason.
In the event of an unexpected injury or illness, you may need to withdraw from your courses. Depending on the timing of the withdrawal, you may not be eligible to receive a refund for all your tuition and fees. GradGuard Tuition Insurance can help students and families avoid a financial loss due to an unexpected medical withdrawal from school.
Remember, Canisius students are only entitled to a full refund of tuition and fees charges if they withdraw before the last day to drop courses with a 100% refund for dropped credits. This deadline is published in the Academic Calendar. Please review the Canisius full refund Policy here.
What are the benefits of tuition insurance?
Gradguard's Tuition Insurance can reimburse tuition, room, board, and other eligible fees if a student withdraws at any time during the covered term due to a covered reason such as:
• Covered serious injury or illness such as mononucleosis, a severe head injury, or COVID-19
• Chronic illness such as diabetes or an auto-immune disorder
• Mental health conditions like depression, anxiety, suicide/attempted suicide
• Death of a payer(s)
The Tuition Insurance Plan complements our refund policy, providing peace of mind. GradGuard also offers members special access to an Assistance Hotline to help students and their families take care of emergencies and unexpected issues. Learn more by calling GradGuard at 866-985-7598 or visiting GradGuard™ .
**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 1.2% of the insured amount. For example, the cost to insure $12,000 would be $144.00. $12,000 x 1.2% = $144.00. 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 866-985-7598.
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 1.2% of the insured amount. For example, the cost to insure $12,000 would be $144.00. $12,000 x 1.2% = $144.00. 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 866-985-7598.