Considerations for those with college-bound children
There is so much to consider when you send you child to college, enrolling in classes, meal plans, books, dorm rooms, spending money, tuition, clothes, safety, the list seems endless. An article from our colleagues at Hemenway & Barnes touches areas of preparedness we may not think of, but are nonetheless very important. One area being insurance – most college students are covered under parent’s health care policies. Recent federal reform allows them to stay on as dependents until the age of 26. Additionally, many colleges also offer plans for students not already covered. Parents should also review their homeowners policies to determine in their child’s belongings would be covered in the dorm. If renting an apartment, leases may require a separate policy to cover the contents. If you have a college-bound child, I urge you to take a moment to review this article, it could save you time and worry (speaking as the father of three recent graduates).
I recently heard Atul Gawande, a brilliant doctor at Brigham and Women’s Hospital in Boston and an acclaimed writer, speak about Risk Management. Well, he did not mention those two words but that was my takeaway.