Frequently Asked Questions about FACTS Tuition Management
Will arrangements be made for families that pay their tuition in cash because they cannot or are unable to have a checking account?
Payment arrangements are the exclusive responsibility of the student’s parent or guardian. All parents/guardians who choose to pay tuition in three or more installments are required to open a FACTS account for the remitting of school tuition payments. Parents/Guardians who pay annually or semiannually do not meet the three-payments-or-more criteria for tuition collection, and are therefore not required to open a FACTS tuition account.
Will invoices be issued by FACTS for tuition payments?
No. Tuition payments will be collected electronically on the 1st or 15th of the month; you select the timing when you set up your FACTS account. Invoices will be issued for incidental fees, regardless of your payment option, and these incidental fees invoices can be paid by check, ACH transaction, or credit card.
Does FACTS charge a set-up fee every year?
Yes. The annual fee to establish a FACTS tuition account is $46 and is required for all parents/guardians who utilize the tuition management option of three or more payments per year.
If I choose not to enroll in FACTS, will my child’s attendance be denied?
No, provided the parent/guardian utilizes the annual or semi-annual payment option. Any parent/guardian who chooses to pay tuition in three or more installments—those who choose quarterly, 10- or 11-month plans—must establish a FACTS account. FACTS accounts are required for the school to formally finalize payment agreements with parents/guardians for the upcoming school year. FACTS will begin collecting tuition payments for St. Mike’s on July 1, 2011.
Will FACTS collect book fees, facility fees, lunch vouchers, etc., or just tuition?
Beginning July 1, 2011, fixed annual education-related fees will be combined and collected with tuition so that parents/guardians can spread these fixed cost payments out with their tuition payments. The annual Education Fee ($315/seniors; $145/grades 7–11) is a fixed fee. All other fees are considered incidental and variable and will be invoiced by FACTS on a monthly basis, including the capital improvement fee of $500 per family and the $300 registration that are due in May and June.
How will online and AP courses be billed? What about PE uniforms and the yearbook?
All charges for items other than tuition and the fixed annual education fee are considered “incidental fees” and will be invoiced by FACTS. Beginning in the upcoming school year, PE uniforms will be sold by the Parents’ Club at the same time that school uniforms are sold. Click here for more information about uniform sales.
Is there still time to apply for FACTS Grant and Aid Assessment?
The deadline for financial aid applications was May 1. Families that missed this deadline are unlikely to receive assistance for next school year, given the large number of applicants. But, you are encouraged to fill out the financial aid application anyway, to be used in the event that additional funding becomes available or a financial emergency occurs within your family during the school year.
Can we make payments to FACTS by check instead of giving them our bank-account information?
Only for incidental fees. Parents/guardians who choose to spread their tuition payments over three or more collection periods are required to submit them through FACTS, which requires the use of a bank checking account or a credit card. Rest assured that FACTS uses the highest security technology to protect your account information.
Do you offer a discount for those paying tuition in full for the entire year?
There is no tuition discount for payment in full. However, families that make annual or semi-annual tuition payments are not charged the $20 fee for establishing a FACTS incidental account.
What is the payment date for those who choose to make an annual tuition payment?
July 1, 2010How will the book bill be charged to my account?
It is billed as an incidental fee via an invoice from FACTS.
Can FACTS accommodate a situation where two or more people share a FACTS account in order to pay a student’s tuition?
Each FACTS account must be associated with only one bank account. However, if special arrangements are needed to accommodate shared tuition payments, please contact the St. Mike’s Business Office.
If I am an annual or semi-annual payer, do I have to sign up for FACTS?
Not initially, but an account will be automatically generated for you if and when your child incurs their first incidental billing charge. SMHS has agreed to pay the set-up charges on incidental accounts for annual and semi-annual payers.
If I’m an annual or semi-annual payer, do I need an incidental account?
Yes. All incidental or miscellaneous fees will be invoiced on behalf of St. Mike’s by FACTS, regardless of the plan chosen for tuition payment. However, parents and guardians can choose to pay incidental account fees by check, ACH transaction, or credit card.
Will FACTS combine my incidental fees with my tuition payment on the 1st or 15th of the month, requiring me to have more money in my account than I normally would under my chosen payment option?
No. Incidental fees are invoiced separately. Parents can opt to pay these invoices by check, ACH transaction, or credit card.
I’m expecting to receive a small tuition assistance award. How will that money be credited to my account?
Tuition awards are credited to your account after your payment agreement for the upcoming school year has been finalized and approved by SMHS on the FACTS tuition assistance system. All awards for tuition assistance are expected to be finalized by the end of June 2011 and will be credited to your account before your automatic payments for next school year begin.