What is Student Loan Insurance, and how does it work?
Student Loan Insurance is a financial safety net. The coverage helps repay federal student, private alternative and parent PLUS loans until your income exceeds $50,000* after graduation. This powerful protection enables students to achieve their goals without being held back by student loan debt.
*Typically $50,000. Check your price to see your coverage details.
Who is eligible for this coverage?
You must be a high school senior, college freshman or college sophomore with at least two academic years left. You must be enrolled or planning to enroll in a bachelor’s degree program at a four-year college or university.
What is covered by this insurance?
Each Student Loan Insurance policy covers loans certified by your college’s financial aid office including federal student, private alternative and parent PLUS loans.
What's the deadline to purchase Student Loan Insurance?
The deadline to purchase coverage for the 2024-25 academic year is June 30, 2025.
How much does Student Loan Insurance cost?
Check your price here – it only takes a few minutes.
When do I pay for this?
You have the option to either pay for Student Loan Insurance in full when you sign up or opt for a monthly installment plan. Once you graduate from the institution with which you signed up for coverage, you will no longer need to make Student Loan Insurance payments. Before the start of each academic year, you will receive a renewal notice for your coverage. If your status as a student has changed, you can let us know in your Student Loan Insurance account.
As a parent or guardian, can I help my student sign up for Student Loan Insurance?
Yes! Signing up for Student Loan Insurance is a smart move – and we encourage you to discuss all the benefits together as a family. Have your student provide your contact information as they go through the sign-up process to ensure you receive information about their policy.
Is my coverage automatically renewed each year?
Yes, your coverage is automatically renewed each year. Before the start of the academic year, we will send you a notice that your coverage is about to renew. If your status as a student has changed, you can let us know in your Student Loan Insurance account.
Does Student Loan Insurance cover loans borrowed for a j-term (January term) or during the summer?
Yes, your Student Loan Insurance policy covers the entire academic year, including j-term and summer term.
What’s your cancellation policy?
You can cancel your policy at any time. To receive a full refund, please cancel by Oct. 1 of the covered year or within 14 days of purchase, whichever comes later.
If you do not require coverage for the academic year but wish to maintain your policy, you can pause coverage. Pause coverage before June 1 of the covered year to receive a complete refund for any payments made toward the current academic year, as well as to stop any future payments for that academic year. Rest assured, your policy will resume automatically on July 1 for the new academic year. Contact us at [email protected] or (877) 909-4754 to cancel your policy or pause coverage.
After graduation, how do I file a claim?
Once you sign up for Student Loan Insurance, Ardeo will email you information about how to set up your Student Loan Insurance account. From there, you can access your coverage details, find helpful resources, and submit claims after you graduate, begin working, and start making your required loan payments.
How does my income after graduation affect the amount of help I will receive repaying my loans?
Student Loan Insurance will reimburse you every 3 months for your loan payments, up to the full amount allowed by your policy. What does that mean? Here’s an example:
A graduate with an income limit of $50,000 is earning $25,000 per year after graduation. Their loan payments are 100% reimbursed (in other words, they receive 100% of their loan payments back). As the graduate’s income increases, for example, to $37,500, they would receive 50% reimbursement of their loan payments. Their coverage continues until either their income exceeds their income limit – in this example, $50,000 – or until their loans are repaid entirely.
Other terms apply. See this sample policy for more information.
What if I attend graduate school?
Students who attend graduate school typically follow one of two paths:
- If you attend graduate school full time, your federal loans are usually put into “academic deferral” status automatically, which means you won’t need to make any loan payments. If you have private loans, you can contact the loan servicer to discuss keeping your loans deferred while you attend graduate school. During this time, you should contact Ardeo to let us know you will be attending graduate school. Since you won’t be making any loan payments, we will pause your coverage. When you finish graduate school, you can contact us again to reactive it.
- If you attend graduate school part time, then loan providers typically require you to begin repaying loans borrowed to pursue your bachelor’s degree. In this case, there is no effect to Student Loan Insurance. You will receive help repaying your loans, up to the full amount allowed for in your policy.
Please note that at this time Student Loan Insurance only covers loans borrowed to pursue a bachelor’s degree. Loans borrowed to pursue a graduate degree will not be covered by Student Loan Insurance.
What else should I know about the details of my policy?
There are 3 things you need to do to qualify for help repaying your loans.
- Graduate with a bachelor’s degree from the institution with which you signed up for coverage.
- Work 30+ hours per week. It can be in any field. You can work more than one job.
- Begin making your required loan payments.
Students have 18 months after graduation to file a claim for the first time. That timeline can be extended if you attend graduate school or work internationally.
This is just a summary. See this sample policy for more information.
