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Tuition Refund General Information

Dear Students Parents:

Working with Gallagher Student as the Plan Administrator, Paul Smiths College has been able to secure a comprehensive and affordable Tuition Refund Insurance Plan for its students, underwritten by Markel Insurance Company. Paul Smiths College is now offering this Tuition Refund Insurance program as an optional product to secure your investment in your college education.

Your financial obligation to the school is for the full annual tuition as stated in the school's enrollment contract. The school's expenses are incurred on an annual basis. Therefore, the school cannot afford to refund the tuition or cancel unpaid obligations if you are forced to withdraw during the upcoming academic years. If you withdraw, the Tuition Refund Plan will pay benefits (subject to terms, conditions and limitations and based on the amount insured) to Paul Smiths College which provides substantial assistance in meeting your financial obligation.

Eligibility and Enrollment

Enrollment in the plan is voluntary. Each student must decide whether to participate in the plan or not. If participation is desired the student enroll the student via online enrollment or mail-in form.

Who is a tuition payer?

The tuition payer is the person who has paid all or a portion of, and is contractually responsible for paying, the tuition and fees; is the natural or legal guardian of the covered student; and resides with him or her. Or, the tuition payer can be the covered person who pays for all or a portion of, and is contractually responsible for paying his or her own covered fees. The tuition payer's legal spouse, who resides with them, is also included under the plan.

Effective and termination dates

For persons who enroll in the institution prior to the first day of school, coverage will become effective on the first day of school. For persons who enroll in school after the effective date of the policy, coverage becomes effective 14 days after the first day of class attendance by the student.

The insurance for any student shall terminate on the earliest of the following dates: the date the policy expires; the date the student makes a complete withdrawal or is completely dismissed from school for any reason; or the date the student dies; or the date the student completes his or her scheduled term of enrollment.

Exclusions & limitations

Exclusions & limitations This plan does not provide benefits for withdrawals which are a result of any of the following: Loss which first occurred before the covered person's period of coverage; Failure to attend classes or sessions for any reason that is not included in the Benefit Schedule; Change in enrollment status; Early graduation or completion of classes; War including undeclared war, civil war, or warlike action; Suicide or intentional, self-inflicted injury or sickness; Fear of contagious disease or epidemic, except as provided by the epidemic closure benefit; Induction or draft into the armed forces (when a covered person enters such armed forces, the plan will refund the unearned premium); Catastrophic event of any kind that results in partial or complete closure of the school; A disability due to participation in a riot; commission of or attempt to commit a felony; Seizure or destruction of property by order of governmental authority which results in partial or complete closure of the school; Dishonest acts committed by the school or any staff member of the school, whether acting alone or in collusion with others; Any terrorism act or occurrence.

Plan Administration

Gallagher Student is the plan administrator for Paul Smiths College. This Plan is underwritten by Markel Insurance Company. Markel has been meeting the insurance needs of private schools for over 20 years. Markel Insurance Company is a specialty carrier in 50 states and carries an "A" (Excellent) rating from A.M. Best. Markel Insurance Company is a member company of the 6 billion dollar Markel Corporation.