On June 5th, Emerson was notified by RenWeb that they had been acquired by FACTS, a tuition payment processing company. As part of this acquisition, Emerson is now required to use FACTS to process its tuition payments. Originally, the deadline was to have all the payments transferred to FACTS from Tadley, our former tuition payment processing company by July 1st. However, Emerson requested that the first withdrawal from FACTS be delayed until September 1st.
What This Means for You
Unfortunately, each family will have to re-enroll online at http://online.factsmgt.com for their EFT bank withdrawals for tuition. This is a requirement of FACTS, not Emerson. We were told that we could not enter the bank information we had on file on behalf of our families. Apparently, federal compliance issues require parents to enter the information themselves and accept FACTS’ terms and conditions.
We truly apologize for this inconvenience. However, our hope is that in the long run, it will improve your tuition payment experience.
Some Details on FACTS
FACTS Management Company has worked with independent schools for over 25 years and currently serves over 6,500 schools nationwide, including many in our area. This payment program does not involve a loan. There is no debt, interest, finance charges, or credit checks.
Along with online access to your account, the following are just a few of the features also available:
- Mobile-friendly payment site
- Online and telephone payments
- Switch among financial accounts
- 24/7 customer service
Plan Options with FACTS
Tuition is handled conveniently and securely through a preauthorized payment on the 5th or 20th of the month, from a checking /savings account or credit card. If paying via credit card, there is an additional fee of 3.75%.
What You Need to Do
Please enroll with FACTS as soon as you can at http://online.factsmgt.com.
To Enroll With FACTS
Visit http://online.factsmgt.com to get started. You must select the payment plan that matches the plan you already have created through Renweb. Please have the following information available when enrolling:
- Account information for the person responsible for payment: bank name, account number, and the bank routing number. Most of this information is located on your check.
- To protect your privacy, you will be asked to create your own unique FACTS username and password. Please be sure it is something you can easily remember.
Before clicking the Submit button, please carefully read through the Final Review and the Terms and Conditions. Once Emerson School has finalized your agreement, you will receive a confirmation notice from FACTS.
We Look Forward to Serving You Better
Emerson School looks forward to our partnership with FACTS and the efficiency and technology it brings both to the school and to our families. Should you have any questions regarding this plan, please contact the business office at 734-665-9005 ext. 116 or 118 or FACTS at 866-441-4637.
Frequently Asked Questions
How will I be notified of my payment information?
Once your agreement is posted to the FACTS system and the Emerson Business Office enters amounts owed, you will receive a confirmation notification of your payment amount by e-mail or letter in approximately 10 days. Payments will be processed until the total balance is paid in full. The notification may have important information needed to log on to your Consumer Portal Account. You will receive a reminder email 4 days prior to the upcoming payment and have the option to change payment method or pay ahead online at any time.
What about enrollment in the FACTS payment plan in future years?
The FACTS payment plan enables Emerson School to automatically reenroll families in payment plans over successive years, saving time for both the school office and your family. Should your tuition payments be made through FACTS the following year, you would be notified in advance by Emerson School.
When and what time will the funds be withdrawn from my bank account?
While FACTS transacts each payment on the date you have specified, it is your financial institution that determines the time of day the payment is debited. FACTS recommends checking with your financial institution to determine how far in advance funds should be deposited into your account to ensure the automatic payment clears. If a payment date falls on a weekend or banking holiday, the payment will be transacted the following business day
How do I view my information online once I’ve set up my payment plan?
You can view your Consumer Portal Account by visiting FACTS’ website at online.factsmgt.com to ‘Sign In’ with your username and password. If you have forgotten your username or password, you can click on the Forgot Username/Password? link for further instruction.