Frequently Asked Questions
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FACTS Management Company and its subsidiaries provide a payment program for institutions across the country. Because FACTS is not a loan program, there is no debt incurred and no credit search. There are no interest or finance charges assessed by FACTS on the unpaid balance. East Arkansas Community College has contracted with FACTS Management Company to provide various payment options for you.
Through FACTS e-Cashier you can:
- Arrange for monthly payments
- Make a down payment IMMEDIATELY and arrange for monthly payments
- Make an optional down payment IMMEDIATELY and arrange for monthly payments
- Pay in full IMMEDIATELY
The nonrefundable enrollment fee to budget payment(s) through FACTS is:
- $25.00 per Semester
- $2.00 for Full Payment (PROCESSED IMMEDIATELY)
The nonrefundable enrollment fee for Automatic Payments from your bank account or credit card will be processed within 14 days of your FACTS agreement being posted to the FACTS system.
Commonly Asked Questions About FACTS
- What is the FACTS Management Program?
FACTS Management Company provides a payment program used by institutions across the country. We have been in the tuition management business for 15 years. For more information about FACTS you may review our web site at www.factsmgt.com.
- If payments are made automatically from my bank account or charged to my credit card, does that mean FACTS 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 FACTS, you authorize a specific payment amount to be paid by your bank or credit card company on a specific date.
- Will FACTS Management Company or any of its subsidiaries disclose any personal information to a third party?
- When will monthly payments begin?
Monthly payments will be processed starting on the first payment date you select when you enroll for monthly payments via FACTS e-Cashier. Your payments will be processed on the same date each month.
- Can I make an optional down payment prior to calculating my monthly payment(s)?
Yes. You may elect to make an optional down payment. Enter the down payment amount you want to make on the FACTS e-Cashier budget form. Then click the Re-calculate button. Any optional down payment will be processed immediately according to the payment method you have selected. Any remaining payments will then be processed as per your instructions.
- Can I pay the total contract amount in one payment?
Yes. You may pay the entire contract amount in one payment.
- What happens if the payment date is on a weekend or holiday?
If the payment date falls on a weekend or banking holiday observed by the Federal Reserve, the payment will be attempted on the next business day. Although FACTS specifies the date each payment will occur it is the responsible party's financial institution that determines the time of day the payment is debited to the account (this applies to Automatic Bank Payments only).
- What happens if a payment is returned?
If a payment is returned, you will receive an e-mail or letter from FACTS with instructions on how the returned payment will be handled. A $25 FACTS Returned Payment Fee will be assessed for each returned payment. Your financial institution may also assess a fee. If a returned payment fee is returned, it will be reattempted. FACTS Returned Payment Fees are subject to change in future academic years.
- Can I make changes to my budget plan?
Yes. It is easy to make changes. Simply contact the East Arkansas Community College Business Office at (870) 633-4480, ext. 346. All changes must be made at least 10 calendar days before the next scheduled payment date. If you choose the Pay in Full IMMEDIATELY option, no changes can be made to this agreement after it has been submitted.