Payment plans allow students to pay their invoices in installments. Payment plans let you charge additional (optional) fees for the plan itself, as well as late fees for missed payments. They also let you control how charges are paid:
- You can include or exclude financial aid from payment calculations. Say you have a $1000 invoice broken up into ten payments; there is $500 in aid that will apply to the invoice...
- If you exclude aid, each payment will come to $100 (not counting plan fees).
- If you include aid, each payment will come to $50 (not counting plan fees).
- Payment schedules can be based on the number of days into the term, calendar dates, or days from posting of the invoice.
- Plans can also set different schedules for different charge types (tuition, fees, room plans, etc.).
- You can exclude invoices below a certain amount from being put on a plan.
- You can apply plans to the student, which covers all of a student's invoices, or to individual invoices, which covers only eligible charges on that invoice.
Whether or not we imported data for you, you'll need to set up Payment Plans from scratch when you begin setup. Start by going to Billing > Settings > Payment Plans and clicking Add Plan. Read more about setting up payment plans.