What happens when paying for college becomes a six-figure financial risk, but families have almost no safety net when something goes wrong?
In this episode of Entrepreneur Rx, host John Shufeldt sits down with John Fees, serial entrepreneur and Co-founder and CEO of GradGuard, to talk about entrepreneurship, higher education, insurance, and the financial risks families often do not think about until it is too late.
Fees has spent his career at the intersection of education, financial services, and technology. He previously built and sold companies to Viacom and JPMorgan Chase before co-founding Next Generation Insurance Group and launching GradGuard, a company designed to reduce the financial risks associated with college life.
A major focus of the conversation is tuition insurance. Once a university's refund period ends, a student who has to withdraw for a covered reason may otherwise lose tuition, housing, and other academic costs already paid. GradGuard was built to provide protection against certain unexpected events and now works with more than 700 colleges and universities. Its programs have served more than 2 million students across more than 1,900 institutions.
John and John also step back from the product itself to ask bigger questions about how America pays for education. They discuss student debt, whether the current financing system creates the right incentives, the economics of medical education, and why the cost of becoming a physician or other highly trained professional can influence career decisions long after graduation.
The conversation then moves into entrepreneurship and insurance innovation, including why Fees believes technology and AI will pressure traditional insurance intermediaries, where specialized insurance models can still create real value, and why entrepreneurs should focus on solving problems rather than fitting into an existing industry mold.
They close with a fascinating discussion about pattern recognition. Experience can help founders and investors recognize opportunities, but it can also create blind spots. Fees shares how his own assumptions contributed to passing on Facebook early, sparking a broader conversation about challenging what experience tells you and deliberately looking for the counterargument.
About John Fees: John Fees is a serial entrepreneur who builds technology-enabled ventures at the intersection of financial services and education. He previously sold Y2M and Members Connect to Viacom and JPMorgan Chase, respectively, and later co-founded Next Generation Insurance Group. He holds a BS in History from Arizona State University and an MBA from Harvard Business School.
About GradGuard: GradGuard was created around a simple problem: families can spend tens of thousands of dollars on a semester of college, yet have little protection if an unexpected illness, injury, or other covered event forces a student to withdraw. Since 2009, GradGuard has built insurance programs specifically for the risks of college life, including tuition and renters insurance. Today, the company works with more than 700 colleges and universities and has helped protect more than 2 million students across more than 1,900 institutions.
About Xcellerant Ventures: Xcellerant Ventures is a venture capital firm investing in innovative private companies across healthcare, technology, defense, and other emerging industries. Xcellerant offers multiple investment vehicles, including the Jetstream Venture Fund ($5,000 minimum interval fund) and select SPVs, while partnering with founders through capital, strategic guidance, and its broader network.
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