Setting up payment plans with CourseStorm
Set Up Your Course To Accept Payment Plans
Offering payment plans can help boost enrollment in your big-ticket courses while freeing up your staff's time and resources.
When you add a course that costs $100+ to your catalog, you will automatically have the option to offer a payment plan for the class. The option to fill out payment plan information will appear as the third prompt during class creation.
Select the second option allowing students to pay in installments.
Choose your deposit amount. We recommend enough of a deposit to cover the cost of materials if you allow your payment plans to go beyond the date the class begins.
Choose to either Auto-schedule payments or Custom payment schedule.
Auto-Scheduling Payments:
When you choose this option, the system will determine the number, frequency, and dollar amount of installments based on how much time is left between when the student registers and the date you set for the full payment to be due by.
For example, we have a $100 class with a $25 deposit. If the full payment was due by November 1st and someone registered 12 weeks prior, they would pay the deposit and then three installments of $25 every four weeks, meaning they pay $100 in total.
Custom Payment Schedule:
If you select the option for a custom payment schedule, you will need to enter the amount of each installment, the frequency of installments, and the date that you would like the payment plan to start on.
For example, if we have a $100 class, there is a $25 deposit and three monthly installments of $25. The first installment is charged exactly a week after the first day of class, in this example. This gives more freedom to set up your payment plans.
Registering For Courses With Payment Plans
Once you've set up the payment plan, students will see the option to pay in installments while registering. Once the student registers, they will be given an option to pay in full or accept the payment plan option. The payment plan is only available for credit/debit cards, and the student agrees to have their card automatically charged based on the payment schedule.
Once a registration has been placed on a payment plan, the payment plan cannot be canceled without canceling the registration. If you need to stop a student’s payment plan, you can use the Suspend action to pause the plan indefinitely. Suspended plans can only be resumed by Admin Users, by selecting the “Resume” option on the student’s plan in the Admin Menu.
Currently, once a registration is completed on a payment plan, the payment amounts or balance due for that plan cannot be edited. If a change is needed to the payment amounts or balance for that student’s plan, Admin Users may use Refunds, Plan Suspension, Payment Date Rescheduling, or a combination of these to accomplish the desired adjustment. At this time, the system is not able to add additional amounts to be charged to a payment plan after the registration has been placed.
For more information on payment plans, try these articles:
Suspending a student's payment plan...
Changing the credit card on a payment plan...