CSCS Tuition Payment Plan with FACTS




Tuition Payment Plan with FACTS Management

CSCS

Tuition Payment Plan with FACTS

As a private school, we are constantly looking for ways to concentrate our available human and financial resources on our primary mission of education. To help us meet this goal, Colorado Springs Christian Schools will be co-sourcing through FACTS Management Company to carry out the deferred tuition payment function. Our research indicates significant benefits of this program to school staff and school families, including convenience, flexibility, and secure on-line access to individual account information.

A Sensible Plan

We are proud to partner with FACTS, the leading tuition payment plan provider in the industry. This is not a loan program. You have no debt, there is no interest charged for using the payment plan, and there is no credit check. The cost to budget your interest-free monthly payment plan is a nominal, annual, nonrefundable FACTS Enrollment Fee. You may budget your tuition and fees in the following ways:

Automatic Bank Payment (ACH)—ACH payments are those payments you have authorized FACTS to process directly through your financial institution. It is simply a bank-to-bank transfer of funds that you have pre-approved from either your checking or savings account on the 5th of each month.

Credit Card—If you elect to use this option, your monthly payment, along with a convenience fee ($2.50 for every $100 of tuition charged), will be automatically charged on the 5th of each month to your credit card (AMEX, MasterCard, or Discover). The convenience fee is in addition to the nonrefundable FACTS Enrollment Fee. Paying with your credit card gives you the option of taking advantage of various bonus programs offered by your credit card company. Please call CSCS at 719-268-2100 for this option and the paperwork will be mailed to your home.

Payment Plan Options

Monthly payments through FACTS. These payments will be automatically deducted from checking or savings accounts, or automatically charged to a credit card (convenience fee will be added) on the 5th of the month. The FACTS annual enrollment fee is $41 per family, and will be deducted from your account prior to the first tuition payment. Ten payments June-April (skipping February), twelve payments June-May, or pro-rated upon entry.

Annual or Semi-Annual Plans – will still be available through CSCS (no enrollment in FACTS is necessary).

If you have questions about enrolling in FACTS, please contact CSCS at 268-2100, or 599-3553, option #2. Once you have your FACTS plan set up, you may contact FACTS directly at (800) 624-7092 or view your agreement online through MyFACTS Account. To access MyFACTS, follow the instructions located on the FACTS Confirmation Notification or e-mail. FACTS customer service representatives are available Monday - Thursday, 7:30 am to 7:00 pm (CT), and Friday, 7:30 am to 5:00 pm.

Frequently Asked Questions

1. When and what time will the funds be withdrawn from my bank account? While FACTS transacts each payment on the specified date (5th), 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.

2. 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.

3. 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.

4. 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 $30.00 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. Payments are scheduled for the 5th of the month and the re-attempt to collect the funds will occur on the 20th of the month.

5. What about enrollment in the FACTS payment plan in future years? The FACTS payment plan enables the school to automatically re-enroll families in payment plans over successive years, saving time for both the school office and your family. Contact the CSCS Business Office (719-599-3553, option #2) if you want to switch to annual or semi-annual payments.

6. How will I pay other expenses at the school? Consistent with prior years, you will receive bills from the school for items such as books, sports, retreats, and registration fees, before and after school programs, etc. Payment for these will be made directly to the school.

We Look Forward to Serving You Better!

CSCS looks forward to our partnership with FACTS and the efficiency it brings to our school. Should you have any questions regarding this plan, please contact us at 268-2100 or the Business Office at 599-3553, option #2. If you have questions for FACTS, you may contact them at 800-624-7092.