The FACTS Payment Plan

Easier by the Dozen: UNL Offers Year Round Student Payment Plan

It's no secret that the cost of a college education can stress family finances. Traditional lump-sum payments concentrate the costs of a full year at school into one or two months, making the family budget difficult to manage.

The University of Nebraska-Lincoln is pleased to announce a payment plan option that will allow students and families to spread those payments evenly throughout the year. Through an agreement with FACTS Tuition Management Co., for the first time student payments may now be automatically handled monthly by electronic funds transfer.

What It Is

To help you meet your educational expenses, the University of Nebraska -Lincoln is pleased to offer FACTS as a convenient budget plan. FACTS is a tuition management plan that provides you with a low cost option for budgeting tuition and other educational expenses. It is not a loan program. You have no debt, there are no interest or finance charges assessed, and there is no credit check. The only cost to budget monthly payments through FACTS is a $20 per semester nonrefundable FACTS Enrollment Fee. The FACTS Enrollment fee is automatically deducted within 14 days of the agreement being posted to the FACTS system.

The FACTS payment plan is offered through FACTS Management Company. FACTS Management Company serves colleges and universities across the United States with a monthly tuition payment program and online payment processing system. They have served educational institutions with tuition management services for nearly 20 years.

How FACTS Works

Students and parents can set up a payment plan to begin making monthly payments toward a future fall or spring semester. We offer a 12-month plan (6 months/term). Payments for the fall term are made from March - August. Payments for the spring term are made from September - February.

Using FACTS is simple. To enroll, log in to WAM/WAMS and in the “My Bill” area, click on “Payment Plan.” Additional information regarding online registration is provided in Completing the FACTS Agreement. You may budget your costs one of two ways:

1. Automatic Bank Payment (ACH) -ACH payments are those payments you have authorized FACTS to process directly with your financial institution. It is simply a bank-to-bank transfer of funds that you have preapproved for your expenses at UNL. Payments may be made from either your checking or savings account. Payments are processed on the 5th of each month and will continue until the balance is paid in full.
2. Credit Card Option -Many payers have requested the option of charging their monthly tuition payment to their credit card. If you elect to use this option, your monthly payment will be automatically charged to the credit card you designate (Mastercard, Discover, and American Express are accepted). Payments will be charged on the 5th of each month until the balance is paid in full.

Completing the FACTS Agreement

When you enroll with FACTS, be sure to have the following information:

1. Student's identification number and pin number/password to access WAM/WAMS.
2. The name, address, and e-mail address of the person responsible for making the payments.
3. Information to create your FACTS Access Code.
4. Information regarding the expected charges (tuition and fees, housing, parking permits, etc.) you are wanting to include in the payment plan and any scholarships and financial aid which you want to take into consideration when calculating the amount to budget.
5. Account information for the person responsible for payment.
   • If paying by automatic bank payments you will need the bank name, telephone number, account number, and the bank routing number. Most of this information is located on your check.
   • If paying by credit card, you will need the credit card number and expiration date.

Frequently Asked Questions

1. When and what time will the funds be withdrawn from my bank account?

   FACTS specifies the date each payment will occur but it is your financial institution that determines the time of day the payment is debited. FACTS recommends you check with your financial institution to determine how far in advance funds should be deposited into your account to insure the automatic payment clears. If a payment date falls on a weekend or holiday, the payment will be attempted the following business day.

2. How will I be notified of my payment information?

   Once your agreement is posted to the FACTS 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 FACTS Account. The notification also serves as a reminder that a $20 per semester nonrefundable FACTS Enrollment Fee will be processed from the account indicated on the agreement.

3. Can I pay by phone with FACTS?

   In accordance with the Terms & Conditions of your FACTS agreement, payments are processed electronically. FACTS does not accept payment by phone.

4. What is the FACTS Access Code?

   To help protect your privacy, FACTS asks the person responsible for the payments create an access code. If you should call into FACTS inquiring about your FACTS agreement or inquire online through My FACTS Account, you will be required to verify your FACTS Access Code. If you do not create an access code on your FACTS agreement, one will be randomly assigned to you. Your FACTS Access Code will be identified on your FACTS Confirmation Letter. Please remember to keep a copy of your confirmation letter.