FACTS Plan

FACTS Tuition Management 

Interest Free 

Monthly Payment Plan

 

To assist you with budgeting your College tuition expenses, Our Lady of the Lake College has made available a payment plan through FACTS Management Company.  The FACTS Tuition Payment Plan is an interest-free monthly payment plan that will allow you to divide your tuition expenses into smaller, more manageable payments.  FACTS is not a loan program; therefore, there are no interest or finance charges and there is no credit check.  The only cost to you to utilize the FACTS Tuition Payment Plan is a $30.00 per semester non-refundable enrollment fee.  The enrollment fee will be added to your first invoice or included with your first deduction from your bank account or your first payment charged to your credit card after your Agreement is posted to the FACTS system. 

ENROLLMENT OPTIONS: 

1. Automatic Bank Payments (ACH) – Automatic bank payments are payments you have authorized FACTS to process directly with your financial institution. It is simply a bank-to-bank transfer of funds that you have pre-approved for your tuition expenses at Our Lady of the Lake College. Payments may be made from either your checking or savings account. Payments are processed on the 5^th of each month and will continue until the balance is paid in full. Should your payment be unsuccessful, a missed payment fee of $25.00 will be assessed for each payment attempt.  FACTS will notify you  by letter or e-mail and schedule a reattempt for the missed payment on the 20^th of the month.

2. Credit Card Option – Many students have requested the option of charging their monthly tuition payment to their credit card. This enables you to take advantage of various bonus programs offered by your credit card company. If you elect to use this option, your monthly payment amount, along with a convenience fee, will automatically be charged to the credit card you designate. The convenience fee is in addition to the nonrefundable enrollment fee.  Payments will be charged on the 5^th of each month until the balance is paid in full.   

3. Invoice Option – Some students prefer to be billed for their tuition payments.  If you select invoice option, you will be mailed an invoice for each payment.  You are required to pay 10% of your tuition straight to the business office. The first invoice is sent on approximately the 10^th of the month prior to the first payment’s due date. Payment is due to FACTS by the 1^st of each month, and and may be made via U.S. mail or online at a Website provided on your invoice.  Payments made by personal check, cashier’s check, or money order must be drawn on a U.S. financial institution and must be made payable to FACTS. Checks received by FACTS will be converted and processed as an Automatic Bank Payment (ACH) upon receipt by FACTS’ designated lockbox provider.  Your cancelled check will not be returned to you.  If your check is not received by the 1st of the month, a late fee will be added to the student’s account and will appear on the next invoice. If a payment is returned unpaid, a $25.00 FACTS Returned Payment Fee will appear on your next invoice.

 

ENROLLMENT DEADLINES FOR CREDIT CARD & AUTOMATIC BANK PAYMENT (ACH) OPTIONS FOR FALL 2007 (August - December, 2006) SEMESTER
Number of Payments  Months	Last Day to Enroll Online
3 payments  Sept - Nov	August 30
2 payments  October - Nov	Sept 30

 

ENROLLMENT DEADLINES FOR INVOICE OPTION FOR FALL 2007 (August - December, 2006) SEMESTER
Number of Payments Months	Last Day to Enroll Online
2 payments October & November	August 21st

 

 To enroll online click the e-cashier link.