As the end of the school year approaches, we’ve compiled a few tips and reminders for our Tuition Management and Grant & Aid Assessment clients, so you can wrap things up efficiently and have a stress-free summer.
Need a way to see which families are starting to fall behind on payments? FACTS has several reports to help you keep families out of delinquency.
- Dashboard: Locate the “Delinquency Aging” tile, review the pie chart for a summary, and click on “Details” to view the specific families that are past due.
- Problem Activity Report: This report contains all customers with an inactive status, problem banking, or delinquent billing and payment plan activity. To view this report, go to Reports > Payment Activity > Customer Reports > Dashboard > Problem Activity. Make sure you have the correct school term selected, then click “View Details.” It is also important to check any previous school terms for outstanding balances.
- The FACTS Enrollment Fee is assessed for a 12-month period. If an agreement has scheduled payments extending beyond 12 months, a new enrollment fee will be assessed on the 13th month.
- The FACTS Peace of Mind (POM) benefit only covers up to 12 months per agreement and is not reassessed for agreements extending beyond 12 months. On the 13th month, the POM benefit will expire, and a new agreement will be required for additional coverage.