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Payment Plan Maintenance

Payment Plans are assigned to individual students through Payment Plan Maintenance. A student can have one or more payment plan types applied. In some cases, a particular payment plan type may be assigned to the student based on the student's credit worthiness. For example, your institution may have one payment plan type created with an interest rate of 10 percent, and another with an interest rate of 5 percent. You may wish to reward the student with better credit worthiness with the lower interest percent plan. Payment Plan Type setup is very flexible and allows for many other types of plans and situations which are defined by each institution's business rules.

To assign a payment plan to a student:

1. From the CAMS Enterprise Home page, click Billing >Payment Plans >Maintenance. If a student has not been selected, the Select Student window opens. Select the appropriate student. The Payment Plan Maintenance window for the selected student displays. Any payment plans applied to the student display in the top grid. If Alter Plan has been used to change the student’s payment plan, previous plans will display in the History grid.
2. Right-click in the data grid or click the Add button to open a blank Payment Plan form, or double-click an existing payment plan to modify.
3. Enter the Term, required, for which the payment plan will apply.
4. Select the Payment Plan Type, required, from the list. Upon selection, the Start Date and End Date will automatically populate based on the current date and the setup of the frequency of payments. These dates may be changed if desired.
5. Enter a Description, required, (maximum 50 alphanumeric characters) for the Payment Plan Type as it pertains to this particular student.   
6. Click the Search button immediately to the right of the field. The dollar amount found in the Registration batch, or student's billing ledger, or both (when some transactions have been distributed to the student's ledger and others remain in the batch) will display in the Amount fields. The amount can be changed if necessary.   

• Note: There are times when clicking the Search button will not result in population of the Amount fields. These are as follows:
• If the student does not have a balance in the Registration batch or their billing ledger for the term supplied in the Term field. This could be due to financial aid that covers the amount of charges, payments made, charges removed, etc.
• If the charges have TransDocs which do not match TransDocs applied in the Payment Plan Type Setup. For example, if you have a payment plan created for semester courses, and another created for a weekend course, the weekend course payment plan type could not be applied to a student registered for semester courses, because the TransDoc for semester courses has not been set up for the weekend course payment.

7. Click Display to generate the Student's Scheduled Payments. A list of payments including payment number, due date, date of grace period of each payment, and minimum amount due based on the value in the Amount field divided by the number of payments displays in the data grid.
8. Click Add. If the Payment Plan requires approval, a prompt displays asking whether approval has been granted. If so, click Yes. The Payment Plan Type will then be assigned to the student and future payment transactions can be identified as satisfying the Payment Plan.