Augustana College Secures Salaries After Graduation With Trial Insurance Program | Local education
Augustana College offers insurance to guarantee a specific post-graduation salary as part of a pilot program.
Students who participate in the program are guaranteed an average income from their academic field for the first five years after graduation from Augustana, according to a press release from Augustana.
The program, the result of a partnership with Degree Insurance, is a trial – which Augustana claims to be the first in the country – limited to the first 20 new transfer students who apply and are admitted between July 15 and August 23 and who are register. for the fall semester 2021, according to the press release. It will not cost the college or participating students.
The college said as an example, if a student graduates in a field where the average annual income is $ 60,000, but only earns $ 55,000 per year during that five-year period, the insurance will pay a lump sum of $ 25,000 at the end of the period. .
There are other eligibility conditions, the statement said. Students who have insurance must work in the United States after graduating from Augustana.
If they enroll in a higher school after Augustana, or participate in a religious mission or effort like Teach for America, the insurance program will be suspended until the student completes that new program.