What is Student Loan Insurance?
Student Loan Insurance protects you when you need it most. The transition from college graduation to a great job can be a challenge for many people. Paying for student loans can be particularly difficult during this time. Student Loan Insurance helps provide a safety net during this time by covering student loan payments for the bottom quartile of income earners.
How it works
Insuring your student loans is a simple 3 step process.
Purchase a policy
Pay a small percentage of the loan amount to insure your loans before graduation
Finish your degree program for which you are taking your loans
Submit tax return
Send in your tax return for the first year after graduation
Claims are automatically and immediately paid
If you fall in the bottom 25th percentile of income earners in your cohort, you'll have your student loans paid for that year, enabling you the opportunity to “catch up” to your peers economically. This process of submitting tax returns and claiming payments repeats for four years for a total of five years of coverage post graduation.