Removing risk for buyer

I currently offer a one year program that coaches people through an important transformation that takes a certain amount of time. We want people to be 100% committed and to make it harder for them to give up on themselves. We feel confident in the value we deliver and do not offer refunds. That said, we know that not everyone will succeed. Some people WILL give up and will not get the value they paid for.

People sometimes say that they are unwilling to risk losing the money if they do not succeed. The program costs ~$1000 for the year. We’re OK with them not signing up until or unless they are comfortable with that commitment/risk. With the current financial uncertainty however, people may be even more reluctant to commit/risk.

Should we hold to our no refund policy even if it might mean significantly reduced enrollment/revenue? Are our reasons for not offering refunds good enough? Does the current crisis change anything?