As the name suggests, it's possible to create payment plan templates in the portal, the point being that whatever plans or scholarships your school provides will be readily applicable to every profile. Time spent curating these templates will be amply rewarded by the sheer easiness with which you can multiply them across several student profiles and how much time this will save you, not to mention that creating a template is also a breeze!

By the way — do some of your students have unique scholarships? Fear not, a standard template can be tailored to fit a specific student!

How to create a payment plan template

Essentially, a payment plan template works like a collection of payment instalments. Firstly, you create the plan and give it a unique name, but it's gonna be empty by default. Hence, you need to add the phased payments that make up your instalment agreement and establish a fulfilment timeframe.

To get started:

     a) On the top right-hand corner click the gear and choose General settings
     b) Click the tab Institution
     c) Click the tab Payment Plan Templates

This takes you to the list of payment plans made available by your school (if any already exist). To create a new one:

     a) Click Add plan template
     b) Name your plan
     c) Click Create plan

Now it's time to setup the actual payment instalments. You can be as flexible as you want: establish an initial deposit and follow up with timely instalments, divide in several instalments from the get-go, or request that the balance be paid in full by a certain date in the future. To do any of these, click Add payment and fill in the fields:

DESCRIPTION — Succinctly describe or name the payment.
— Set the value for that payment.
— Choose a currency from the list (main currencies available).
— Choose whether it should be fixed or distance-based:

  • Fixed — Determine a fixed date for payment, regardless of when the payment plan was generated for that applicant (e.g., all applicants must pay by a given date). This being your choice, you'll also have to schedule a DUE DATE in the calendar.
  • Distance — From when the payment plan was created, set a number of days after which payment is due (e.g., applicant must pay 30 days after their payment plan came into force). This being your choice, you'll also have to write the DISTANCE FROM PAYMENT PLAN CREATION DATE.

Once the form is filled out, click Create payment and your template is done. Need more instalments? Click Add payment again and repeat the form! This is all there is to creating a payment plan template! 😃

If instead of creating a new plan you want to view or edit an existing one and also view or edit its' payments, just click the gear at the end of each line. Clicking the cross will result in deletion.


PUBLISHED: August 21, 2018
LAST UPDATED: August 21, 2018 at 2:14 p.m.

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