What is a Tuition Plan?
Tuition Plans are essentially the payment plans you create and charge families against for the center's services. Tuition Plans in HiMama Billing are tied to the age groups in your center and can be setup to accommodate different payment scenarios and tier structures.
Tuition Plan Components
There are quite a few nifty things you can setup in our Tuition Plans to make invoicing easy:
Invoice Timing: Set when you want invoices to be ready to be sent to parents:
- Pre-paid: Invoices are ready to be sent at the start of the billing period
- Post-paid: Invoices are ready to be sent at the end of the billing period
Billing Cycle: Set how often you want to collect payment from parents. There are three preset* options to choose from:
- Every Week/X Week: An invoice is generated every Monday, or every 2nd, 3rd, or 4th Monday
- Twice a Month: An invoice is generated twice a month on the 1st and 15th of that month
- Every Month: An invoice is generated once a month, either on the 1st or the 15th of that month
*Unfortunately, at this time we do not offer flexible billing cycle dates
Payment Due Date: Set how many days after an invoice is sent that payment is due from parents.
Tax Percentage: Set the tax percentage you want to include on the invoice.
Fee Structures: Set tuition pricing to meet your needs. We offer three options to choose from:
- Fixed Rate (Enrollment Based): The fee is determined based on the child's scheduled enrollment (but is the same every billing period)
- Fixed Rate (Single Cost): There is one fee per billing period for all children, regardless of schedule.
- Variable Rate: The fee for a child may vary each billing period based on the number of days they attend.
Here is an example to help clarify!
- Sally attends 2 days a week (M & T). Ben attends 4 days a week (M T W Th).
- Fixed Rate (Enrollment Based): Sally pays the 2 day rate, and Ben pays the 4 day rate.
- Fixed Rate (Single Cost): Both Sally & Ben pay the exact same fee every billing cycle.
- Variable Rate: For Sally the fee will be calculated based on the number of Mondays and Tuesdays in the billing period. For Ben the fee will be calculated based on the number of Mondays, Tuesday, Wednesdays and Thursdays in the billing period.
Setting up Tuition Plans
Now that you know about the components of tuition plans, let's start creating them! Click HERE
for a step-by-step guide on selecting and creating the right tuition plan for you!