Payment Plan
The Payment Plans section displays a Student’s scheduled payments, including both paid and pending items. This provides a clear breakdown of due dates, amounts, and payment statuses, helping to track outstanding balances and completed payments.
To create a new payment plan, click the New Payment Plan button.
This will open a modal where you can set up the payment schedule, including due dates, amounts, and how payments will be applied.
When setting up the plan, you can choose from different Payment Plan Types.
You can divide payments into weekly, biweekly, monthly, or quarterly installments or use a preconfigured percentage or absolute plan (discussed below) to apply a structured payment breakdown. These allow institutions to apply standardized payment structures automatically.
Once you select the type, amount, number of payments, and start date for the Payment Plan, a preview of the scheduled payments will appear at the bottom of the modal.
By default, when a payment is made, it is automatically applied to any outstanding invoices/charges and to payment plans. However, in cases where a payment plan is created after payments have already been made, those payments may not be linked to the plan.
Selecting Apply Existing Payments ensures that any past payments are retroactively applied to the new payment plan, incorporating them into the scheduled installments.
If the Student has a saved credit card in their profile and online payments are configured for your institution, enabling this option will automatically process payments on the scheduled due dates. This ensures payments are made on time without manual intervention.
Once the payment plan is added, all scheduled payment items will be listed. As payments are made, the amounts and statuses will automatically update to reflect the latest payment activity.
Next to each payment plan item, there are quick action icons that serve as shortcuts for managing individual payments:
- Edit Plan Item – Modify the details of the payment plan item.
- View Plan Item – Open a detailed overview of the payment plan item.
- Delete Plan Item – Remove the payment plan item from the schedule.
These actions make it easy to adjust, review, or remove specific payment plan items as needed.
If you need to add a single payment item to an existing payment plan, click More Actions, then select Add Payment Plan Item. This will add a new item to the list, where you can click the Edit Icon to customize the details as needed.
After adding a new payment plan item, an Edit Payment Plan modal will appear. This allows you to enter specific details for the new payment item, ensuring it aligns with the Student’s payment schedule.
Creating Existing Absolute and Percentage Plans allows you to set up predefined payment structures that can be applied to Prospects or Students. These plans help standardize payments, making it easier to assign structured installments based on fixed amounts or percentages of an invoice total.
To configure payment plans, navigate to User Name / Institution Config / Students / Plans. Here, you can create and manage predefined payment plans for Prospects and Students.
On this page, you'll see a New Payment Plan button, which allows you to create a new plan from scratch.
If you click on the (+) expansion symbol next to any existing payment plan, you will see its details, including the breakdown of individual payment plan items. This provides a clear view of how payments are structured within the plan.
An Absolute Plan uses fixed monetary amounts for each payment. This ensures that the specified amounts represent the actual amounts owed. If the invoice total is lower than the payment plan total, the system automatically adjusts the plan to match.
- Click New Payment Plan and enter a name for the plan.
- Select Amount Type: Absolute and click Add to continue.
- Locate the new Absolute Plan in the list and click the Add Item icon next to it.
- Enter a description, specify the amount, and set the due date based on the time interval after the previous payment.
- Click Add to save the item.
- Repeat the process until all necessary payment items are added.
Once completed, this Absolute Plan will be available when selecting an existing payment plan for a Prospect or Student.
A Percentage Plan calculates each payment as a percentage of the total invoice amount. This allows payments to scale automatically based on the total amount due.
- Click New Payment Plan and enter a name for the plan.
- Select Amount Type: Percentage of Total, then click Add to continue.
- Locate the new Percentage Plan in the list and click the Add Item icon next to it.
- Instead of specifying a fixed amount, enter a percentage for the payment item.
- Complete the required fields and click Add to save.
- Continue adding items until the total percentage equals 100%. If the plan is incomplete, a yellow notification will appear as a reminder.
Once all items total 100%, the Percentage Plan will be complete and available for use.