Re: 3rd party monthly payment plans

Hi Linda and everyone,

we have used FACTS for 5 years. We are extremely happy with their
service and with the payments we receive through them.

The scheduled payments are received twice a month via direct deposit
to our bank account. The student payments are on either the 5th or
20th of the month. We receive funds on the 15th and last day of the
month. Any one time payments (payments in full) and down payments
are deposited on a daily basis in our account. We download the details
from the secure website and upload in our student system, Colleague.

We are very pleased with with all aspects of their program. If you have
any additional questions, please let me know.

Good luck in your search,
Melissa
Melissa Rauch
Aquinas College
Student Accounts
voice 616.632.2918; fax 616.732.4482
www.aquinas.edu

On 20 Oct 2005 at 12:15, Linda Anderson wrote:

All

For those of you who have contracted with a third party to provide
your students with monthly payment plans, how long does the 3rd party
retain the funds before sending them to your institution? Typically I
have seen 28 days as the normal float. Please respond if you have
these types of arrangements with external companies. Thanks very
much

Linda Anderson
Director of Enrollment Services
Carnegie Mellon University
Received on Thu Oct 20 16:03:10 2005