How does School Plan work?

School Plan is a simple yet effective school fee management service. We pay each student's school fees on a term or semester basis - directly into the school’s account by the due date - at no cost or contractual obligation to the school. The family's commitment to School Plan is then divided into easy-to-manage monthly instalments.

School Plan allows parents to automatically pay their monthly instalments by direct debit from their nominated bank account on the first working day of each month. By selecting School Plan Plus, parents have the additional option of paying by credit card.

School Plan pays school fees in full to the school by the due date, entitling families to any term or semester discount your school may offer for paying on time.

School Plan can be used to assist with managing the payments of private school fees and independent and public school fees: which exceed $1000 per annum.
How does School Plan work?

• School Plan receives and assesses an application from a family at your school.
• If approved, School Plan liaises with your school to acquire a copy of the school’s fee schedule, due dates for payments and the school’s banking details.
• Instalments to School Plan are then deducted by direct debit from the family’s nominated bank account or credit card (School Plan Plus).
• School Plan pays the family’s school fees directly to your school by the dates specified on the school’s fee schedule.
• Towards the end of the school year a renewal form is sent to existing members inviting them to re-apply for the following year.
Which fees are covered by School Plan?

School Plan can cover any fixed school fees, provided they amount to $1000 p.a. or more per family, including:

• School tuition fees
• Boarding fees
• Camp fees
• Building fund donations

The service cannot be used to cover any arrears that a family may have accumulated at the school, or sundry items that may be incurred by the family.
What are the costs involved?

There is no cost to schools for offering parents the School Plan service. For each family, a small service fee is charged according to the value of the school fees to be covered, and whether they choose between the standard School Plan service, or the additional benefits provided by School Plan Plus. Service Fees
Fees to be covered* School Plan School Plan Plus
$1,000 – $15,000 3.95% 5.45%
$15,001 - $25,000 4.25% 5.75%
$25,001 and above 4.45% 5.95%


* Does not include fees in arrears or variable expenses.
Example: Annual tuition and/or fees paid by School Plan to your school $ 6,000.00
Add service fee 3.95% - Refer table above $ 237.00
Total fees to be funded $ 6,237.00
Divided by 12 monthly instalments $ 519.75




Please note: Once membership is approved, the families’ instalments to School Plan are spread over the remaining months of the school year to be funded. Parents are required to pay two monthly instalments before School Plan is obliged to make payment to the school. School Plan is not liable to pay any amounts outstanding on a parents account other than the fees for which we have accepted responsibility.
Membership – how long does it last?

Each School Plan membership is for a 12-month period. Parents need to complete and return an Application Form in order to take advantage of the School Plan service for that school year. Renewal forms are sent out to parents inviting them to re-apply for the following year.
School fee accounts

The school should continue to send fully itemized accounts to parents who are taking advantage of the School Plan service, as this provides them with information on the status of their account and confirms that School Plan is paying their school fees.
Missed payments

If a parent fails to pay the agreed instalment, School Plan will temporarily suspend payment of their school fees until their instalments are brought up to date. We do not require the school to refund any fees already paid for a student, unless the student has left the school and their account is in credit.
How can your school take advantage of the School Plan service?

The most effective way to promote School Plan to parents is by simply including our Parent Information Flyer or Membership Guide with your school fee accounts, enrolment packs or newsletters. Both documents highlight the benefits School Plan can offer to the parents of your school, and clearly inform readers of the fees involved with the service. The Membership Guide also includes a convenient FAQ section, and a copy of the School Plan Application Form.

Click here to request a free supply of Information Flyers or Membership Guides to be sent to your school.

Your school may also like to consider including details of our service on your school's fee schedule or website.

Source :http://www.schoolplan.com.au