Understanding Dewar Tuition Insurance: Protecting Your Educational Investment
For many students and their families, higher education represents a significant financial investment. Unexpected events, particularly those related to health, can disrupt academic plans and create financial strain. Tuition insurance, such as the Dewar Tuition Refund Plan (TRP), offers a way to mitigate these risks and protect your investment in education. This article provides a comprehensive overview of Dewar tuition insurance, its benefits, coverage, and how it works.
What is Dewar Tuition Insurance?
Dewar Tuition Insurance, administered by A.W.G. Dewar, is a program designed to provide financial protection to students and their families in the event of a medical withdrawal from college. As an extension of a university’s refund policy, tuition insurance protects your educational and financial investment from unexpected medical leaves or withdrawals. It helps students who must take medical leave (due to physical or mental health reasons) recoup some of their tuition payments for the academic year.
Universities Offering Dewar Tuition Insurance
Several universities partner with A.W.G. Dewar to offer tuition insurance to their students. Examples include:
- Loyola University Chicago: Loyola-Chicago partners with A.W.G. Full-time undergraduate students have the choice, at the time of registration, to opt out of the Dewar Tuition Refund Plan or to change the pre-selected coverage type from the Off-Campus to the On-Campus option. To change the original selection, full-time undergraduate students have a specific timeframe to notify the Bursar's Office of their decision. Part-time undergraduates, students in the School of Continuing and Professional Studies, or students in any Graduate or Law programs can still inquire about Tuition Insurance and rates directly with A.W.G. Dewar. Participation in the Dewar TRP is entirely optional.
- Tufts University: Tufts University offers a Tuition Refund Plan (TRP), administered by A.W.G., to help students who must take medical leave recoup some of their tuition payments for the academic year.
Why Consider Tuition Insurance?
Tuition insurance offers peace of mind. If you need to take time off for medical reasons, this insurance ensures that you won’t lose your tuition payments. Given the ongoing impact of health challenges, it’s more important than ever to consider this protection. Here’s why it’s a valuable consideration:
- Protection Against Unexpected Events: Life is unpredictable. Medical emergencies, whether physical or mental health-related, can arise unexpectedly, forcing students to withdraw from their studies.
- Financial Security: Tuition insurance helps safeguard your educational investment if you need to take a medical leave of absence. Without insurance, a withdrawal could result in significant financial loss, as universities typically have refund policies that may not cover the full tuition amount.
- Peace of Mind: Knowing that you have a financial safety net in place allows you and your family to focus on recovery-not finances. This peace of mind can be particularly valuable during stressful times.
What Does Tuition Insurance Cover?
Tuition insurance helps safeguard your educational investment if you need to take a medical leave of absence. It provides peace of mind by covering eligible tuition costs, allowing you and your family to focus on recovery-not finances. The specific coverage details can vary depending on the policy and the university, but generally, tuition insurance covers:
Read also: Tuition at Loyola University Maryland
- Tuition Costs: The primary benefit is the reimbursement of tuition expenses for the semester or term from which the student withdraws due to a covered medical reason.
- Fees: Some policies may also cover mandatory fees associated with enrollment.
- Room and Board: Depending on the plan, room and board expenses may also be eligible for reimbursement.
It's important to carefully review the policy details to understand the specific terms and conditions of coverage.
Eligibility and Enrollment
Eligibility for tuition insurance typically depends on the student's enrollment status and the university's partnership with the insurance provider.
- Enrollment Timing: To enroll, submit your application and payment before the first day of classes, as published in the Academic Calendar. Applications cannot be accepted after the first day of classes.
- Full-time vs. Part-time Students: At Loyola University Chicago, for example, full-time undergraduate students have the choice to opt out of the Dewar Tuition Refund Plan or to change the pre-selected coverage type from the Off-Campus to the On-Campus option. Part-time undergraduates, students in the School of Continuing and Professional Studies or students in any Graduate or Law programs can still inquire about Tuition Insurance and rates directly with A.W.G. Dewar.
- Optional Participation: Participation in the Dewar TRP is entirely optional.
How to File a Claim
In both cases above, a “complete withdrawal” from the college is required. This means you have given written notice that, because of your injury or sickness, you will not be able to complete the term and you will not receive any academic credit. To file a claim with Dewar Tuition Insurance, you typically need to follow these steps:
- Notify the University: Inform the university of your intention to withdraw for medical reasons.
- Complete Withdrawal: A “complete withdrawal” from the college is required. This means you have given written notice that, because of your injury or sickness, you will not be able to complete the term and you will not receive any academic credit.
- Obtain Claim Forms: Obtain the necessary claim forms from A.W.G. Dewar.
- Submit Documentation: Submit the completed claim forms along with supporting documentation, such as medical records or a doctor's note, to A.W.G.
- Claim Review: A claim is submitted to A.W.G.
- Benefit Payment: Once all claim forms are submitted and if approved, refund payments are usually sent within 7-10 business days. Benefit payment is made to Adelphi to be credited to the student’s account.
Opting Out of the Dewar Tuition Refund Plan
At some universities, such as Loyola University Chicago, full-time undergraduate students have the option to opt out of the Dewar Tuition Refund Plan. Opting out is done via the Dewar platform. You can opt out through the Dewar platform. To change the original selection, full-time undergraduate students have a specific timeframe to notify the Bursar's Office of their decision.
Key Considerations Before Purchasing
Before deciding to purchase Dewar Tuition Insurance, consider the following:
Read also: Affording ECU
- University Refund Policy: Understand your university's refund policy. Tuition insurance is designed to supplement, not replace, the university's policy.
- Coverage Details: Review the policy details carefully to understand what is covered, what is excluded, and any limitations or restrictions.
- Cost vs. Benefit: Evaluate the cost of the insurance premium against the potential financial loss if you were to withdraw for medical reasons.
- Personal Circumstances: Consider your personal health history and any potential risk factors that may increase the likelihood of a medical withdrawal.
Read also: Withdrawals for College: A Guide
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