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Copyright © 2008
Saint Joseph School of Downers Grove
FACTS Program
As we plan for the future, St. Joseph School is constantly looking for ways to concentrate our available human and financial resources on our primary mission of education. To help us meet this goal, the school board recently decided to partner with FACTS Management Company to help us manage our tuition payments and financial aid for the 2007-2008 school year. Our research indicates significant benefits to school staff and school families, including convenience, flexibility, and secure on-line access to individual account information. FACTS comes highly recommended by many schools in the diocese that currently use FACTS for these “business-related” needs.
All St. Joseph School families will receive a tuition billing statement from FACTS in July 2007. You will have the choice to make your tuition payment in full or go online-- www.factspayment.com -- to set up a budgeted tuition payment plan. FACTS is not a loan program. No debt is incurred and no credit check is conducted. Everyone is eligible. Complete information will be included on the mailed statement you will receive from FACTS in mid-July.
Payment in full to FACTS can be made by mailed check, money order or through FACTS secure online payment portal, www.factspayment.com. Full payments are due on or before August 1, 2007. If you prefer, online Full payments can be made via:
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.
Credit Card—If you elect to use this option, your payment, along with a 2.5% convenience fee, will be automatically charged to your credit card (AMEX, MasterCard, or Discover are accepted). Paying with your credit card allows you to take advantage of various bonus programs offered by your credit card company.
Budgeted Payment Plans
Equal payments will be automatically deducted from checking or savings, or automatically charged to credit card (with 2.5% convenience fee added for credit cards payments only) on your choice of the 5th or 20th of the month.
Semi-annual --2 equal payments: due August & December 07
Quarterly –4 equal payments: due Aug/Nov/Feb/April
Monthly – 10 equal payments: starting in August 07 through May 08
With FACTS, the school maintains decision-making control. As always, we will continue to work with families should special circumstances or “hardship” cases arise during the school year.
Convenient Online Enrollment
FACTS online payment portal also provides access to our own eCashier site for enrolling in FACTS for scheduled tuition payments. Enrolling online is simple and secure. Go to: www.factspayment.com
Be sure to have the following information ready:
- Statement information & invoice number. The name, street address, and e-mail address of the person responsible for making the payments. Account information for the person responsible for payment: bank name, telephone number, account number, and the bank routing number. Most of this information is located on your check. If paying by credit card, have your card information available.
Before you click the Submit button, please carefully read the Final Review and the Terms and Conditions. Notification confirming your enrollment in a FACTS payment plan through e-Cashier will be sent to you after you submit your agreement.
If you have questions about enrolling in FACTS please contact the business office.
You may also contact FACTS directly (800) 624-7092 or view your agreement online through My FACTS Account. Instructions to access My FACTS will be included in your statement or payment plan confirmation notification.
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 for my payment plan be withdrawn from my bank account? While FACTS transacts each payment on the specified date (5th or 20th), 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 for budgeted tuition payments is posted to the FACTS system 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 permitting the responsible party to view their account online..
3. What is the FACTS Access Code? To help protect your privacy, FACTS will randomly create an access code for you. 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. Your access code will be included on your statement or 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 $25.00 FACTS Returned Payment Fee will be automatically assessed to your account for each failed payment attempt. This is in addition to any penalty your bank or the school may assess. You will be notified by FACTS of the returned payment via mail or e-mail. For payment scheduled for the 5th of the month, a reattempt will occur on the 20th; for payment scheduled for the 20th, a reattempt will occur on the 5th of the following month.We Look Forward to Serving You Better!
St. Joseph School looks forward to our partnership with FACTS and the efficiency and technology it brings to our school. Should you have any questions regarding this plan, please contact the school business office or FACTS at 800-624-7092.