Transfer Student Income Assurance Program
Augustana's Transfer Student Income Assurance Program is a pilot program in which 20 new transfer students are guaranteed the average income for their academic field for the first five years after graduating from Augustana. This effort involves Degree Insurance's flagship insurance product, American Dream Insurance.
The first 20 new transfer students who apply between July 15 and August 23, 2021, and enroll for fall of 2021, will be eligible for the income insurance program.
This pilot program is limited and targeted as a test, involving no cost to students or to Augustana.
Here's how it works: The program guarantees income at the average for academic fields, based on actuarial information. In brief, if an Augustana student graduates in a field where the average annual income is $60,000, but the Augie graduate’s job, in that field, pays only $55,000 a year, the income insurance makes up the difference in a cumulative lump sum of $25,000 at the end of five years.
To remain eligible for the income insurance program, participating students must work in the United States after graduating from Augustana. If the graduate decides to enroll in graduate school, serve a church mission or participate in Teach for America or a similar program, the coverage will be paused during those years. Once the graduate accepts their first job in their field, the coverage begins.
For more details, contact Bonne Jessee, associate director of admissions and transfer enrollment, at 309-794-7395.