Automatic Bank Payment (ACH).
These are payments you have authorized FACTS to process directly through your financial institution. It is a bank-to-bank transfer of funds that you have pre-approved from either your checking or savings account. The FACTS enrollment fee of $41 will be deducted from your account prior to your first tuition payment. You have the option of 12 bank drafts (June - May), 10 bank drafts (July - April) or two bank drafts (June and December).
CONVENIENT ON LINE ENROLLMENT IN FACTS
If you are a current student and re-enrolling for the new year, or if you are a new student who has received a formal notice of acceptance for enrollment, you may enroll in the FACTS Payment Plan on line. The eCashier link on this page allows you to access this web-based service and register for a payment plan.
After enrolling in FACTS, you will be sent a notification confirming your enrollment in a FACTS payment plan. Be sure to read the "FACTS Frequently Asked Questions" section.
Once enrolled in FACTS, you can review your account status via the Internet through FACTS specially designed Website. This site is password protected and encrypted and will give you a full report of payments made, those still scheduled, and any account adjustments.
Tuition Protection Plan
A variety of reasons force students to withdraw from private schools every year—transfer of family, illness or injury, death of parent or student, change of objective, disciplinary dismissal, scholastic failure, financial or emotional difficulties, or other personal reasons. The school’s expenses are incurred on an annual basis; and, therefore, the school cannot afford to refund the tuition or cancel unpaid obligations if your student is forced to withdraw.
Each year’s enrollment is by contract for the full school year and no deduction or remission of tuition is allowed for absence, withdrawal, or dismissal. In view of this obligation to pay the total annual tuition whether or not the student completes the school year, participation in the Tuition Protection Plan is required unless the full year’s tuition is paid in advance of the first day of class in which case the Plan is elective. The premium for this plan is 3.25% of the annual tuition and will be billed to each family on the September student statement.
If your student withdraws from school for any reason, the Tuition Protection Plan provides substantial assistance in meeting your financial obligation to the school. For parent-determined withdrawal, the Plan will pay 60% of the unused portion of the school year. For school-determined dismissal, the Plan pays 75% of the unused portion. In the event of complete medical disability or death of the student, the Plan pays 100% of the unused portion of the school year.
FREQUENTLY ASKED QUESTIONS ABOUT FACTS TUITION PAYMENT PLANS
- If payments are made automatically, does that mean FACTS or the school has access to my account?
No. This is a common misconception about automatic payments. No one other than you and your financial institution has access to your account.
- How can I be assured these transactions are secure?
Bank research shows as many as ten people handle a check from the time it is written until the funds are deducted from your account. ACH transactions are far more secure than writing checks because there are more physical, procedural, and electronic safeguards. FACTS has successfully completed two SAS 70 audits. This means that our service organization has been through an in-depth audit of its control activities, including those relative to security and information technology.
- When and what time will the funds be withdrawn from my bank account?
While FACTS transacts each payment on the specified date (5th or 20th), it is your financial institution that determines the time of day the payment is debited. FACTS recommends checking with your financial institution to determine how far in advance funds should be deposited into your account to ensure the automatic payment clears. If a payment date falls on a weekend or banking holiday, the payment will be transacted the following business day.
- How will I be notified of my payment information?
Once your agreement is posted to the FACTS system and the School enters the net tuition amount, you will receive a confirmation notification of your payment amount by e-mail or letter in approximately 10 days. Payments will be processed until the total balance is paid in full. The notification has important information you must have to log on to MyFACTS Account.
- What is MyFACTS Account?
MyFACTS Account is a service provided to families and students enabling you to view the current status of your tuition account with FACTS Management Company. Your account is password protected and the data is encrypted as it is transmitted to you. The information necessary to access this site is contained in the FACTS Confirmation Letter you receive from FACTS when you enroll.
- What is the FACTS Access Code?
To help protect your privacy, FACTS asks the person responsible for the payments to create an access code. If you should inquire online through MyFacts Account or call into FACTS inquiring about your FACTS agreement, you will be required to verify your FACTS Access Code. If you do not create an access code when you enroll, one will be randomly assigned to you and included in your FACTS Confirmation letter. Please remember to keep a copy of your confirmation notification.
- What happens if FACTS attempts to process my payment and there are not enough funds in my account?
Should an automatic bank payment or credit card payment be returned, a $25.00 FACTS Returned Payment Fee will be automatically assessed to your account. You will be notified by FACTS of the returned payment via mail or e-mail. For payment scheduled for the 5th of the month, the reattempt will occur on the 20th; for payment scheduled for the 20th, the reattempt will occur on the 5th of the following month.
- What about enrollment in the FACTS payment plan in future years?
The FACTS payment plan enables the School to automatically reenroll families in payment plans over successive years, saving time for both the school office and your family. If you have indicated your intent to enroll for the next school year, paid a registration fee, and kept all financial obligations for the current year up to date, the School will automatically re-enroll you in the FACTS plan.
- How will I pay other expenses at the school?
Consistent with prior years, you will receive monthly statements from the School for items such as Extended Care, Tuition Protection Plan, Consolidated class fee, etc. Payment for these non-tuition miscellaneous school expenses will be made directly to the School.
- What if I need to make changes to my agreement after it's on the FACTS system?
If you want to change home address, e-mail address, or phone number, call the school. If you want to change bank information, call FACTS. If you want to change your payment date, or the person responsible for the payments, you must complete a new agreement.
Any changes affecting the automatic payment must be received by FACTS at least two (2) business days prior to the automatic payment date in order to affect the upcoming payment.