Reminder to College Students: If You’ve Got Good Grades, You Get Discounts
13 August 2006In from CNN is a reminder that good grades are good for both college students – and their parents. Beyond the scholarships and financial aid you can get just by going by the appropriate office of your school, you also get discounts from most car insurance companies:
Studies have shown good students tend to have fewer accidents. So for those who drive, maintaining a high GPA is an easy way to cut down on their (or their parents’) monthly car insurance payments.
Good grades are “an indicator of their responsibility,” said Carolyn Gorman, vice president of the Insurance Information Institute. “It’s all down to risk.”
Most insurance companies nowadays will offer a “Good Student Discount” of 10 percent to 25 percent for an undergrad who is able to maintain at least a B average (3.0 GPA).
Allstate Insurance, for example, offers a 15 percent discount to any full-time, unmarried student under 25 with a B-average or better.
State Farm Insurance will offer students with a B average or better up to a 25 percent discount, although the reduction depends on where you live and what kind of vehicle is covered by the policy.
More suprisingly, as CNN points out, there are often places in big college towns where you can get rent discounts for having good grades. It can’t hurt to ask around before the next time you sign a lease if you’re a good student.
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