FACTS Tuition Management
Minnehaha Academy has partnered with FACTS Tuition Management to perform our tuition billing and collections beginning with the 2012-2013 school year. FACTS is the largest provider of tuition payment plans in the industry, giving families a better way to manage education costs.
With a FACTS Tuition Payment Plan, you can choose a convenient payment option to suit your needs. You may choose one lump tuition payment or smaller payments can be made throughout the year. This is not a loan program; there are no interest or finance charges beyond the annual set-up fee of $40.00 per family (this fee is waived for the Prepayment and 2-Payment plans).
FACTS allows you to manage your family’s tuition and other payments conveniently and flexibly. With FACTS Tuition Management and Payment Processing, you can:
- Make up missed tuition payments
- Make a tuition payment in advance
- Add multiple payment methods to your online FACTS profile (i.e. credit card, bank account)
- Switch between payment methods throughout the year (credit card to bank account or vice versa)
ALL FAMILIES (both current and new) will need to enroll in FACTS for payment of tuition and fees and some incidental school charges. The set-up process is simple and includes a few easy steps. Online help is available to walk you through the process. A confirmation email will be sent to verify your enrollment.
Automatic Bank Payment (ACH) – ACH payments, our preferred method, are payments you authorize 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 1st, 5th, 10th, or 20th of each month. (You choose the payment date.)
Automatic Credit Card Payment* – Automatic credit card payments are payments you authorize FACTS to process on your credit card. This is an automatic charge that you have pre-approved for your credit card on the 1st, 5th, 10th, or 20th of each month. Please note that only MasterCard, American Express and Discover are accepted.
Invoice – Invoices will be sent out 20 days prior to the payment due date. Payments can be made online with a checking or savings account or by credit card*, or a check can be made payable to FACTS and mailed to:
FACTS Tuition Management
PO Box 2597
Omaha, NE 68103
*Credit card payments will be assessed a convenience fee of approximately 2.5%.
When signing up for your tuition payment plan, you may choose from the following payment plan options:
- Prepayment Plan (payment in full by July 20, 2012, eligible for a 2% prepayment discount)
- 2-Payment Plan (equal installments due in August and December)
- Quarterly Payment Plan (equal installments due in July, October, January and April)
- Up to 11 monthly payments (payments begin in July and run through May)
You choose your due date; either the 1st, 5th, 10th, 20th of the month.
PEACE OF MIND INSURANCE
Parents and guardians have the option to purchase Pease of Mind tuition insurance for $12 per account. The purpose of this insurance is to cover any outstanding tuition balance incurred following the death or disability of the responsible payer within the school year.
HOW TO SET UP YOUR FACTS ACCOUNT
To set up your FACTS Tuition Management account click on the FACTS icon at the top of this page or the link below. This will take you to the FACTS secure website where you will be guided through the process of setting up your personal account. Once your account is set up, our Student Accounts Office will apply the student’s tuition and fees for the 2012-2013 school year. You will receive a confirmation letter or email from FACTS when your payment plan has been finalized. The confirmation notification will provide your balance and payment schedule. If you select the ACH or Automatic Credit Card payment method, your payments will be processed automatically each month. If you select the invoice option, an invoice will be sent to you 20 days prior to your first payment date.
To Begin: Click on the FACTS image below:
or on the FACTS icon at the top of this page to go to Minnehaha Academy’s FACTS sign in page. Click the ‘Get Started’ button under ‘New User’ to begin.
- Enter the Student Information requested for each student you have enrolled at MA.
- Select a payment plan option.
- Enter the requested demographic information and create a username and password.
- Enter financial account information for making payments.
- Review your account summary and click the ‘Submit’ button.
Note: Returning users should select "Login and view an existing payment plan."
Payments will be on the 1st, 5th, 10th, or 20th of the month, depending on the payment date you select. If the payment date falls on a weekend or holiday, the payment will be on the following business day.
MISSED PAYMENTS – Should an automatic bank payment or credit card payment be missed, a $30.00 FACTS Missed Payment Fee will be automatically assessed to your account. You will be notified by FACTS of the missed payment via mail or email.
For questions concerning your FACTS account, contact FACTS customer service at 1-866-441-4637. FACTS has customer service representatives dedicated solely to assisting Minnehaha Academy families.
For questions concerning tuition and other related charges, contact our Student Accounts Office:
Brenda Robbins, Director of Student Accounts and Financial Aid
Kerry Devoy-Elwood, Student Accounts Assistant
Phone: (612) 728-7774
Minnehaha Academy - FACTS Tuition Management FAQs
What are my options for payment plans?
All payment options are managed through FACTS Tuition Management. Payments can be scheduled for the 1st, 5th, 10th, 20th of the month. You can choose from the following payment schedules:
- Prepayment – one-time payment due by July 20, 2012 or the date of enrollment, whichever is later. This payment plan qualifies for a 2% prepayment discount on tuition only (net of financial aid or any other discount).
- Two-payment Plan – two equal installments, with the first payment due by August 6, 2012 (or the date of enrollment, whichever is later) and the second payment due by December 20, 2012.
- Budgeted Monthly Payments – up to 11 equal monthly installments beginning in July 2012 and ending in May 2013.
- Budgeted Quarterly Payments – Four equal installments due in July 2012, October 2012, January 2013 and April 2013.
What are my options for payment methods?
- Automatic Bank Draft (ACH) – ACH payments are those payments you have authorized FACTS to process directly from your financial institution electronically. It is simply a bank-to-bank transfer of funds that you have preapproved for your tuition payments.
- Payments may be made from either a checking or a savings account.
- Credit Card – You can set up automatic credit card payments using MasterCard, American Express or Discover (sorry, VISA is not accepted). A convenience fee will apply.
- E-Check – You can make one-time online payments using your checking account.
- Paper checks – You can opt to be invoiced and pay by check if you prefer not to set up automatic payments.
FACTS Set-up Fee
Is there an additional cost for using FACTS?
There is an annual set-up fee of $40.00 for monthly and quarterly payments. This fee is per family, not per student. The set-up fee is waived for the Prepayment and Two-payment plans.
Can payments for prepayment and two-payment plans be made directly to MA to avoid the annual FACTS set-up fee?
We prefer that all payments be set up through FACTS Tuition Management. Families who choose to pay MA directly will be charged a $50.00 In-house Billing Fee. Benefits of using FACTS include:
- FACTS will enable us to utilize one method of accounting for all tuition and some incidental billings. Even if you pay with one or two payments, incidental charges (like Fun-and-Friends, Yellow Lounge, service hours, etc.) occur throughout the year. FACTS gives you the convenience of paying for these expenses online by ACH, e-check or credit card and allows you to easily track your student’s expenses through online reporting tools.
- Scheduling your payments through FACTS will allow your payments to be instantly credited to your account and allows you up-to-date access to your account at any time.
- Added flexibility. You can…make up missed payments; make a payment in advance; add multiple payment methods to your online FACTS profile (i.e. credit card, bank account) and switch between payment methods throughout the year.
- Since banks charge for each item deposited, utilizing FACTS Tuition Management service helps to reduce Minnehaha’s banking costs.
Using FACTS Online
What if I forget my password or need help logging in?
Call FACTS customer service at 1-866-441-4637.
What do I do if I need to change my banking information?
Call FACTS customer service at 1-866-441-4637 with your new banking information. For your security, no one at the school has access to this information.
What do I do if I need to stop a scheduled payment?
Contact our Student Accounts Office. We can make changes to your account with as little as five days notice. We, and you, have the ability to communicate with FACTS and we will continue to be reasonable and responsive as circumstances change in the lives of our school families.
Incidental Billing and AutoPay
What is “incidental billing”?
In addition to tuition payments, you can expect to be billed for incidental charges from time to time throughout the school year, such as extended day. These are charges that will need to be paid in full at the time the invoice is received, as they will not be automatically deducted from your bank.
Once I receive an incidental bill, what do I do?
Once you receive notification of an incidental charge, you will be able to log-in to your FACTS account online and make the one-time payment by the due date or set up AutoPay.
What is AutoPay?
AutoPay is a feature which will allow FACTS to automatically process incidental charges from your bank account, relieving you of the responsibility of manually making the payment for each incidental charge.
How do I enroll in AutoPay?
You can enroll in the AutoPay option through your online FACTS account. Click on the “Make a Payment” button and select the “Enroll in Invoice Auto Pay” option.
Will I be notified when an incidental charge has been added?
When enrolled in AutoPay, you will still receive notice from FACTS that a new incidental charge has been assessed. Also, you’ll be able to log-in to your FACTS online account at any time to view the charge itself. However, AutoPay will automatically process the incidental charge from a bank account or credit card of your choosing on the day that it is due. For example: you receive a charge on November 1st for an extended day bill of $200.00 with a due date of November 20th. You can log-in to your FACTS account and make the payment at any time within that period, or simply enroll in AutoPay, in which case the payment will be processed in full on the 20th of the month. You will continue receiving notices as new incidental charges are billed, but will no longer need to make payments manually – they will be processed automatically on the due date.
Can I cancel AutoPay?
Yes, you may cancel the AutoPay option at any time.
I am very uncomfortable giving my primary checking account information to third parties, how can I avoid doing this?
We suggest setting up a separate account at your bank or financial institution to be used solely for tuition payments, or you can choose to be invoiced and pay by check.
Who do I contact for help?
For questions concerning your account, contact FACTS customer service at 1-866-441-4637. FACTS has customer service representatives dedicated solely to assisting Minnehaha Academy families. For questions concerning tuition and other related charges, contact our Student Accounts Office at 612-728-7774 or by email at StudentAccounts@MinnehahaAcademy.net.