Frequently Asked Questions (FAQ)
How much does it cost to enroll in the payment plan?
There is a $25.00 non-refundable enrollment fee each semester a student signs up for the payment plan.
What is the User ID and Password required to set-up a payment plan?
The user ID is the student’s ID number and the password is the student’s date of birth. The format must include the “/” between the month/day/year.
My financial aid has been awarded, how do I cancel my payment plan?
You must notify the Business Office to deactivate your agreement if your financial aid is awarded. Financial aid is not considered earned until the financial aid office verifies attendance and requests for awards to be applied to the student account. Students with financial aid should understand that aid will not be applied to their account until the disbursement date published by the financial aid office and therefore any payments they have contracted with Nelnet to draft from their account will be posted on schedule. Once financial aid is actually applied to their account, then the balance that Nelnet reflects will be adjusted.
What is the payment plan access code?
To help protect your privacy, the tuition payment plan asks the person responsible for the payments to create an access code. If you should call into Nelnet Business Solutions inquiring about your agreement or inquire online through “My Tuition Payment Plan Account” you will be required to verify your access code. If you do not create an access code on your tuition payment, one will be randomly assigned to you. Your access code will be identified on your tuition payment plan confirmation notification. Please remember to keep a copy of your confirmation notification.
How can I make my payments?
Once you sign up on the payment plan, your payments will be processed electronically on the dates specified in your agreement. The payment plan does not accept payments by phone or WebAdvisor.
If payments are made automatically from my bank account or charged to my credit card, does that mean NBS or the institution on this contract has direct access to my account?
No. This is a common misconception about automatic payments. No one other than you and your financial institution has access to your account. When you arrange to make an automatic payment through NBS, you authorize a specific payment amount to be paid by your bank or credit card on a specific date.
When and what time will the funds be withdrawn from my bank account?
The tuition payment plan specifies the date each payment will occur, but it is your financial institution that determines the time of day the payment is debited. The tuition payment plan recommends you check with your financial institution to determine how far in advance funds should be deposited into your account to ensure the automatic payment clears. If the payment date falls on a weekend or banking holiday, the payment will be attempted the following business day.
How will I be notified of my payment information?
Once your agreement is posted to the tuition payment plan system, you will receive a confirmation notification of your payment amount by e-mail or letter. Payments will be processed until the total balance is paid in full. The notification has important information you must have to log on to My Tuition Payment Plan Account. The notification also serves as a reminder that a $25.00 per semester nonrefundable FACTS Account Enrollment Fee will be processed from the account indicated on the agreement.
What happens if I miss a payment?
There is a $30.00 “returned items” fee for any payment that is returned due to insufficient funds or any other reason. The College is in no way responsible for these fees since it is the student’s and/or responsible party’s responsibility to be sure that the appropriate payment amount is available for withdrawal on the designated payment date.
How do I change my address, phone or banking information?
Call FACTS at (800) 609-8056 to make any changes to your address, phone or banking information. If you have questions regarding your FACTS agreement, please contact FACTS directly or view your agreement online through My FACTS Account. To access your FACTS Account, follow the instructions located on the FACTS Confirmation Notification or e-mail.
