Nelnet Campus Commerce has announced a new partnership with GradGuard on a tuition insurance policy designed to benefit both higher education institutions and their students. Tuition reimbursement, particularly related to room and board fees, has become a hotly contested issue in recent months after early campus closures last spring forced students away from universities and out of on-campus housing.
The collaboration with GradGuard will give Nelnet Campus Commerce's more than 1,300 college and university clients access to an integrated policy disclosure process that provides students and payers clear information about the institution's tuition and refund policy. Additionally, students and families will also be given the opportunity to opt into GradGuard's tuition insurance solution to protect them from any financial losses from an unexpected withdrawal or change during the semester.
GradGuard's tuition insurance solution reimburses tuition, room and board, and other eligible fees if a student needs to withdraw from college or university as a result of illness, mental health, injury, disability, death of a tuition payer, or other covered reasons. With the new partnership, GradGuard features will integrate with Nelnet Campus Commerce's higher ed payment technology platform and streamline processes for colleges and universities that use it.
"We're excited about the GradGuard partnership – it's going to allow us to serve our partner institutions and the students and families they support," says Jackie Strohbehn, president of Nelnet Campus Commerce. "The new feature helps solve an issue that many higher education institutions are facing: a growth in student withdrawals, many of which are caused by illnesses or accidents, and GradGuard can help."
"The integration with Nelnet Campus Commerce's end-to-end payment solution for managing tuition payments helps us fulfill our mission to give each student the opportunity to succeed and protect their investment in college," says John Fees, co-founder of GradGuard.
Nelnet Campus Commerce delivers payment technology, ranging from payment processing and refunds, to tuition payment plans and online storefronts. GradGuard's tuition and renters insurance programs are now available through a network of more than 370 colleges and universities.