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Adjust how pay now is calculated

Jeremy Smith

October 14, 2010 19:58

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I think pay now should be adjusted to the following formula: pay now = due to date - payments & credits. So it'd break down like this:

a $3,000 balance split into three payments

$1,000 due October 1 Due to date October 1 - $1,000
$1,000 due November 1 Due to date November 1 - $2,000
Balance due December 1 Due to date December 1 - $3,000

So, if they paid $750 by October 1 they would be assessed a late fee for not making the first payment in full and the pay now about for November 1 would $2,000 (due to date) - $750 (actual payments) = $1,250. Does that make sense? Let me know what you think.

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2 comments

• 0
  
  Jeremiah Miller October 14, 2010 20:13

  This feature is really needed, because currently, the "Pay Now" amount for people on payment plans is not accurate. It doesn't reflect whether or not they have made any other payments so far.

  For example, let's say that a student has a scheduled payment of $1000, but they make a $500 payment. Currently, the pay now amount still says $1000. This needs to be adjusted to reflect what payments have actually been made.

• 0
  
  Adam Sentz October 14, 2010 20:25

  We're actually working on this right now. After we update some legacy transactions may require some clean up - just open a support request and we can walk you through it.