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Private & Independent Schools
Reply to "Payment schedule/plan for private school"
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[quote=Anonymous]Are there different payment terms for your plans? I was just running the numbers on this too. Our school offers a 1% discount for the 1x pay option. The 2x and 10x options a) don't have the 1% discount and b) include a $150 "tuition management fee" for administering autopay I suppose. So that's something like $560 more to not do the 1x pay option. If tuition is $40K the average balance over the course of a year would be half that and $20K earning 3.25% = $650. Pay income tax on that and you're netting like $470. Long story short, paying once for us is less expensive and simpler. If your tuition setup doesn't include a discount or fees then paying monthly makes sense.[/quote]
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