With the cost of a four-year degree at a public college at more than $80,000 — and nearly $15,000 at private universities — tuition insurance is gaining a foothold.
Certified Financial Planner Kashif Ahmed was delighted when his daughter recently was accepted into a prestigious prep school for the 2019-2020 year. The price tag? About $60,000.
A relatively small piece of the insurance world, policies that reimburse education costs for unexpected student withdrawal is an option for parents who want to protect the money they shell out for education. While Ahmed's policy is for a private high school, options are also available at the college level.
The cost of college has been pinching family budgets and causing student loan debt to skyrocket — both among students and their parents. The average one-year cost at an in-state public college is $21,370 for tuition, fees and room and board. For out-of-state public colleges, it's $37,430. Private colleges' average yearly cost is $48,510.
"We found that 86% of parents who are financing their children's undergraduate education aren't aware tuition insurance existed," he said."So there's a whole host of people who should consider it."
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Parents protest California plan on sex-education school textbooksA few hundred concerned parents protested a plan to suggest California teachers use certain books to help students understand sex education.
Read more »
Education chief says teacher strikes 'ultimately hurt kids'BALTIMORE (AP) — Education Secretary Betsy DeVos (dih-VAHS') says she thinks recent teacher strikes 'ultimately hurt kids' and that labor disputes should be handled outside the classroom.
Read more »
Perspective | How parents of kids with food allergies can support nonallergic siblingsWhen our younger child was diagnosed, my husband and I focused on her safety, never considering that our nonallergic child might face outsized stress.
Read more »
77% of Americans say kids should get measles shot even if parents object: Reuters PollThree out of four Americans believe children should be vaccinated against measle...
Read more »
How teaching kids about climate change can influence their conservative parentsAfter kids learned about climate change in school, their parents became more concerned for the planet — especially dads and conservative parents.
Read more »
One of the 2 main types of life insurance can cost hundreds more a year, and 2 questions can tell you whether you need itThe biggest differences between term and whole life insurance are monthly cost, length of the policy, and whether there is a cash value component.
Read more »
For Blackstone, Insurance Is Next Big Push on Route to $1 Trillion Asset GoalBlackstone Group is planning to build its insurance business into a powerhouse in its bid to build a trillion-dollar stockpile of assets.
Read more »
Quiz-Based Life Insurance Company Now Valued at $450 MillionAre you healthy enough to get cheaper life insurance? Health IQ Insurance Services uses a quiz to find out if individuals are fit enough to merit a discounted policy.
Read more »