Adding fees to your payment plan templates is straightforward and allows you to customize payment structures for your students. You can set up various fee types, including initial deposits, installment payments, or full payments by specific dates. Follow the steps below to add fees effectively to your payment plan template.
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How to Add Fees to a Payment Plan Template
Access the Payment Template: Navigate to the payment plan template you wish to modify (as described in previous articles).
Click on “Add Fee”: This will open a form where you can specify the details of the fee.
Fee Details
Description
Provide a concise name or description of the fee.
Type
Choose from the following fee types:
Amount
Amount
A fixed amount (e.g., €500).
Percentage of Product Price
Percentage of Product Price
This calculates a percentage based on the product price minus any fixed fees. Use the formula:
P% fee = (product price – sum of fixed amount fees) * percentage split
Example: If the product price is €1600 and there is a fixed fee of €300, applying a 50% split results in: (1600−300)×0.5=€650(1600−300)×0.5=€650
Percentage of Sum of Selected Course Prices
Percentage of Sum of Selected Course Prices
This option calculates fees based on the total prices of courses selected by an applicant.
The formula is similar:
P% = (sum of the selected study plan course prices – sum of fixed amount fees) * percentage split
Note that this option requires that the application template has the Subjects tab enabled. If courses are added or dropped after this calculation, fees will not automatically update.
Fee for each selected course
Fee for each selected course
This generates individual fees for each course selected by the applicant. Each fee corresponds to the course price. If no courses are selected or if there is no study plan, no fees will be generated.
Percentage/Amount
Specify the value for your selected fee type.
Currency
Choose the currency for the fee.
Due Date Type
Select either a fixed or distance-based due date:
Fixed: Set a specific date for payment, applicable to all applicants.
Distance: Define a time frame in days from either the payment plan creation date or class start date. The default is 30 days, but you can adjust this as needed.
Example: If you set 45 days after payment plan creation, students must pay their fee 45 days after their plan is activated.
Checkbox: Profiles are required to pay this fee to complete their enrolment/registration process
Enabling a fee as mandatory means that applicants must pay this fee during the enrollment process in order to submit their application or enrollment form. This is particularly useful for deposit fees or full payment fees, which are commonly used in Executive Education programs.
Finalizing Your Fee
Once you've filled out all necessary fields, click “Create Payment” to finalize your fee addition. If you need to add more installments, simply click “Add Payment” again and repeat the process.
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