Tuition in instalments, large term fees, bursaries out
Fees arrive in two very different shapes: large termly payments from some families and monthly instalment plans from others, with bursaries, refunds and deposits flowing around them. The job is to collect each shape well and reconcile them against the student.
Big termly sums and monthly plans at once
Some families pay a large sum each term, where a card fee on a four or five figure payment is a real cost. Others need an instalment plan to spread the fee, which is a recurring collection.
A single rail serves one of these well and the other poorly, so providers end up with card payments here, standing orders there, and a reconciliation job to tie them to students.
Bursaries, hardship payments and refunds run outward, and each has to reconcile against the right student alongside the fees collected.
The payment mix that fits
Not one rail. The two to four that match how money actually moves here.
Take large termly fees and deposits over a bank link, avoiding card fees on big one-offs.
Collect instalment fee plans on a mandate, timed to the payer's income.
Pay bursaries, hardship awards and refunds the same day, referenced to the student.
Your flow of funds, orchestrated
Families paying termly pay large fees over Pay by Bank, avoiding card fees on big one-offs. Families on a plan collect over Direct Debit, timed to their income. Bursaries, hardship awards and refunds go out over Faster Payments, referenced to the student. Large fees, instalment plans and outbound awards all reconcile against the student on one ledger, so the finance office sees one position per student.
Every book moves money differently. We map your flow of funds and quote one integration across the rails that fit.
Related
Payments for schools and universities: FAQs
Because a card's percentage fee on a four or five figure fee is significant, and a bank payment settles instantly for a fixed, lower cost with no chargeback.
Yes, over Direct Debit, timed to the payer's income, with every instalment reconciled against the student alongside any termly payments.
Over Faster Payments, the same day, referenced to the student so inbound fees and outbound awards reconcile on one ledger.
Tell us how you get paid
Send us the mix of payments you take and make, and we will quote one integration across the rails that fit, priced on your volume.