It’s May 1st and if your children attend private school (high school or college) today first payments for the 2020-21 school year are due. Some schools require tuition insurance, but surprising many don’t. As a result of COVID-19, many families discovered that some schools do not have an obligation to return money for room/board or any other charges/fees. I have heard that some private schools offered families without insurance a partial reimbursement of tuition and fees as a credit towards the upcoming school year. Take a moment to review your children’s school contract and confirm what their policies are. I was surprised when I re-read the contracts how they both listed in the event of a “Pandemic”. Some schools automatically require (and apply) tuition insurance for families who are making monthly payments, so confirm it. This year, I will not be making any lump sum payments. A $300 (est) tuition insurance plan can protect a significant amount of your investment, especially of you have two kids.
