Degree Insurance (DI), a group insurance product which guarantees for the first time how much students at American universities will earn after graduation and was approved in Illinois in August 2020 has announced a pilot program at Augustana College, a local leading liberal arts and sciences college. This program received press coverage in both Forbes and Inside Higher Ed. DI is excited to take the next step in their vital work ensuring the future of students in Illinois: Dennis Murashko, co-founder and president, commented: “Higher Education is the ladder that lifts families up to greater financial stability. Degree Insurance can help give the students in Illinois the boost they need to continue on to graduation.”
DI’s innovative insurance pays the difference between a student’s actual earnings and a “guaranteed” amount based on their major. As CEO and co-founder Wade Eyerly notes, “No longer does higher education have to be the largest uninsured investment you will ever make. Degree Insurance will ensure that an individual’s investment in higher education actually pays off.” With a $1.7 trillion student loan crisis, DI’s product is particularly important for first generation students, under-represented minorities, and all students struggling with uncertain career and education plans caused by the pandemic.
Augustana College, a highly respected liberal arts college that US News & World Report has recognized as one of the nation’s most innovative institutions, will be piloting Degree Insurance’s flagship insurance product American Dream Insurance (ADI) with as many as 20 transfer students. The product will guarantee a student’s return on investment, increase enrollment, and boost retention. Commenting on the pilot, Eyerly said: “Today’s college students are the least confident generation in America, old enough to remember the Great Recession and now living through a pandemic. We applaud Augustana’s work in addressing students’ concerns and look forward to further expansion in Illinois.”
Degree Insurance is also licensed in Utah, Arizona, North Dakota, South Dakota, Mississippi and Indiana. The company is headquartered in Arlington Heights, IL, and can be found online at www.degreeinsurance.co.
ABOUT WADE EYERLY
Wade is best known as the founder and first CEO of Santa Monica-based Surf Air, the popular all-you-can-fly subscription airline. He also served as an economist at the Pentagon and as an intelligence officer for the US government.
ABOUT DENNIS MURASHKO
Dennis is a regulatory legal strategist and an actuary. He recently served as the General Counsel and Senior Advisor in the Office of the Governor for the state of Illinois