Q: The college that my child is attending is offering the option of buying tuition insurance. Is it worth it?

A: Initially, we get quizzical looks from parents when we recommend that they consider purchasing tuition insurance for their first-year college student. “They’ve worked so hard so far, they’re not going to fail out!”

It isn’t that we’ve lost faith in the student’s ability to succeed in college. It is that we have witnessed times when tuition insurance alleviated a significant financial burden because of unforeseen circumstances.

• Molly was in her second semester when her mother was diagnosed with cancer. She wanted to take a leave of absence to spend some time at home.

• Bryce was a sophomore when he realized that he wanted to change his major, pretty drastically. He was already registered for classes for the spring that would not do him any good in making academic progress toward his ultimate goal and wanted to wait a semester to start again.

• Jordan had a bad fall skiing over winter break — several broken bones and a severe concussion — and was advised not to return to college until their health was back to 100%.

• Julia had always struggled with some anxiety but had everything under control until she had a particularly bad break-up. She needed to take some time to restore her mental health.

• Austin was a recruited athlete. He couldn’t wait to start college until he was cut from the team in pre-season. He couldn't imagine not being a student-athlete and wanted to take a gap year and apply to transfer. But the tuition was already paid.

• Abigail learned in August, just before she started packing the car for her freshman year, that she had come off the waitlist at her dream college.

We realize that not all policies would cover each of the situations listed above, so it is good to read the fine print before making a decision. But regardless, we recommend that it is worth taking a look!