A division of Allianz is expanding its tuition protection coverage for colleges and universities.

Allianz Global Assistance USA said it will partner with schools to provide students ways to boost their access to reimbursements for tuition and fees if they have to leave school due to a sudden covered illness, injury or other covered circumstance. The consumer specialty insurance and assistant company said it will team with GradGuard to make this happen –a firm that provides student protection programs at more than 200 colleges and universities.

The broader goal, Allianz Global Assistance said, is to work with institutions to help “protect the 21 million college students who spend nearly $500 billion every year on their education.”

Partnering schools will have the ability to customize a tuition protection program to best fit the needs of their students, with each plan covering in-state and out-of-state students in accredited public and private institutions. Tuition insurance helps colleges to provide a better withdrawal experience by covering non-refundable tuition, housing, and fees in the event a student needs to unexpectedly withdraw following a covered illness, injury, mental health disorder, or other covered reason.

Source: Allianz Global Assistance USA