If your family has ever had to pay tuition to a private K-12 school, you know the hassle of transferring money, writing a check or money order, and ensuring the school receives the payment. For schools and parents, Tuition Education Platform is an iOS and Android application making online payments for tuition simpler and safer.
It’s time to start paying tuition online. A 2015 survey showed that 47 percent of cardholders would prefer to pay their student’s tuition by debit or credit card. With TuitionEP, in just a few taps, parents can log into the app and make their pay for tuition or a student’s field trip with several different options — bank account, credit card, Bitcoin, international payments.
Beyond just ease of use for parents, there’s a number of benefits of digitizing tuition payments for schools as well. Below are some of the most notable ways online tuition payments can save your school money.
1. save time
For school staff and families alike, every second counts. A mobile app for iOS and Android means families can easily make on-time stress-free tuition payments. For schools, staff no longer has to keep up with when tuition is paid — it’s all kept digitally. This means less time organizing deposit slips and record-keeping for everyone involved.
Also, tuition and fees can be processed immediately outside of business hours. This way, even last-minute payments can be made and parents can avoid late fees.
2. no more lost payments
Processing tuition payments should be as easy as possible, especially for schools. Rather than collecting paper checks or money orders in physical form that could be lost, all payment records can be collected digitally with TuitionEP.
Not only does TuitionEP allow schools to see when tuition has been paid, it prevents a situation where one party says they have paid and the other hasn’t received the funds. With TuitionEP, there is a clear chain of confirmation that ensures everyone is on the same page.
3. payment records
Online payments are far easier to track and record for later. With tracking payments, parents can plan for tuition payments more conveniently with an online payment system in place. With scheduled autopay, parents can also set when the tuition will come out of their account.
4. transaction fees
With TuitionEP, schools have the option to decide who pays online transaction fees — the school or the parents. We work with schools to help them save thousands of dollars each year in fees and find a solution that works best for all involved. Savings can vary depending on the size of the school.
5. secure payments
TEP uses the Stripe payment platform to guarantee safe and secure digital payments. All transactions are audited by a PCI Quality Security Assessor. Stripe has the most stringent level of certification available in the payments industry.
6. payments are a few swipes away
Once students and parents are set up with their custom school in TuitionEP, they are only a few swipes away from paying online tuition. It’s as simple as getting on a phone or tablet, opening the app, adding a payment method, and completing the payment.
7. several methods of payment
Stress-free payments from TuitionEP mean no more figuring out how to get money to the school. TuitionEP accepts checking and savings account payments, Visa, Discover, MasterCard, American Express, Bitcoin, and several other international payments. Once the payment information is entered, it’s securely stored in the app for easy future payments.
8. cash and check can still be accepted
If the school prefers, cash and check can still be used by parents and recorded in the TEP system. If a student or parent uses a check, TEP can apply a credit to their account. However, most schools using TEP no longer allow cash or check to save time, avoid lost payments, and make it easier for all involved.
9. no more excuses: “check is in the mail” or “we already paid”
With an online tuition payment system, fewer parents are late on payments and less accounts go delinquent. Paper checks often reduce a school’s ability to get paid on time. However, automatic payments and notifications ensure that parents are up-to-date on tuition and fees.
10. paying as a family
Rather than just one person paying for a student’s tuition, the payment can be split between multiple accounts. This way, one student’s tuition is able to be split and loaded onto a grandparent’s or another guardian’s account.
transition to online tuition payments
There are several benefits to transitioning your school to an online payment platform for tuition and fees. Ultimately, TuitionEP has set out to save schools time and money, and give parents peace of mind when paying tuition for their children.