Student Loan Insurance is a financial safety net for students in or about to start college. It helps repay your federal student, private alternative, and parent PLUS loans after graduation until you make $60,000 or more. Your coverage supports you as you launch your career, protecting you from unmanageable loan payments when your income is modest.

If you’re worried about paying off your loans after college or pursuing a lower-paying career, Student Loan Insurance gives you peace of mind. It protects your financial future, especially in uncertain job markets or lower-paying fields.

No. Student Loan Insurance is not a loan. It’s a financial protection product that helps repay your student loans after graduation if your income is modest. You pay a flat fee every 6 months while you’re in school, and if you qualify after graduation, you receive reimbursements for your loan payments —up to the full amount allowed by your policy.

It’s peace of mind, not another loan.

You’re eligible if you:

• Are a high school senior, college freshman, or college sophomore with at least two academic years remaining before you graduate with your bachelor’s degree
• Are pursuing a bachelor’s degree
• Are a U.S. citizen, permanent U.S. resident, or legally authorized to work full time in the US at the time of first enrollment at your college
  

Student Loan Insurance covers:

• Federal student loans
• Private alternative loans
• Parent PLUS loans

These loans must be certified by your college’s financial aid office.

It costs $199 per semester, $398 annually.

Yes, anytime. For a full refund, cancel by October 1 of the covered year or within 14 days of purchase, whichever is later.
To cancel, email service@studentloaninsurance.org or call (877) 909-4754.

No. To be eligible for coverage, you must purchase Student Loan Insurance before completing your bachelor’s degree. You must be a high school senior, college freshman, or sophomore with at least two academic years remaining.

The deadline to purchase coverage for the 2024-25 academic year is June 30, 2025. The deadline for the 2025–26 academic year is June 30, 2026.

We generally recommend that you purchase Student Loan Insurance before taking out student loans for your first year of college. The policy is annual and covers loans borrowed during that academic year. Once you’re enrolled, your coverage will automatically renew each year, ensuring that loans borrowed during your second, third, and fourth year are also protected.

By starting coverage early, you can secure protection for all the loans you’ll borrow while earning your bachelor’s degree.

You’ll pay every 6 months from the time you sign up. Payments stop once you graduate from the institution where you signed up for coverage. Each year, you’ll receive a renewal notice to confirm your student status before being billed.

No. Student Loan Insurance only covers loans borrowed to pursue a bachelor’s degree at a four-year college or university. Loans borrowed for an associate degree, graduate degree, or certificate program are not eligible for coverage at this time.

Yes, your policy renews automatically each year unless you tell us otherwise. You’ll receive a reminder before the new academic year starts.

Absolutely. We encourage families to make this decision together.

Yes. Coverage applies to loans borrowed throughout the academic year, including J-term and summer sessions. Student Loan Insurance covers up to $15,000 in loans per year.

• Full-time graduate school: Federal loans are typically placed into deferment, meaning you won’t need to make payments while enrolled. Let us know you’re in school, and your coverage will pause. Once you complete grad school and begin repayment, you’ll be eligible to seek reimbursement, up to the full amount allowed by your policy.
• Part-time graduate school: You’ll likely begin repaying your undergraduate loans while enrolled. In this case, your coverage continues uninterrupted, and you’ll remain eligible for reimbursement according to your policy terms.
  Note: Student Loan Insurance only covers loans borrowed to pursue a bachelor’s degree. Loans taken out for graduate programs are not covered.

To be eligible:

1. Graduate with a bachelor’s degree from the school you selected when you purchased coverage.
2. Work at least 30 hours/week (can be multiple jobs, any industry).
3. Begin making your required loan payments.
   You have 18 months after graduation to file your first claim. This window can be extended for grad school or international work.

After graduation, you’ll access your Student Loan Insurance account to:

• View your coverage
• Submit loan payment receipts
• Get reimbursed every 3 months if your income is below your policy limit

Your loan payments are reimbursed based on income. For example:

• Earning $25,000 with a $60,000 income limit? You’re reimbursed 100%.
• Earning $42,500? You’re reimbursed 50%.

Coverage ends when your income exceeds your policy threshold or when loans are repaid.

No. Student Loan Insurance is not a government program. It’s a private insurance policy that reimburses your loan payments after graduation if your income is modest. It’s faster, easier, and more flexible than forgiveness programs – and works with any major or career path.

Student Loan Insurance is different. It provides cash back for your loan payments, not payment deferrals.