FACTS Tuition Management Company is a third party that processes tuition payments through direct debit. Direct debit is one method of payment for monthly or semi-annual payments. The ten monthly payments are drawn automatically from April through January and the semi-annual payments July 5th and January 5th after completing the necessary paperwork. We need a separate contract for each student in the family. FACTS Tuition Management charges a minimal fee for this service but no interest expense is charged to the family.

FAQs on FACTS

Q. Why was the FACTS Tuition Management System instituted at Stone Ridge?  
A. Stone Ridge’s decision to establish a tuition payment plan was deemed necessary to ensure the timely payment and collection of tuition monies. 

Q. I'm a new parent to Stone Ridge. How do I sign up with FACTS direct debit? 
A. FACTS E-CASHIER

Q. I'm a current Stone Ridge parent. How do I sign up with FACTS direct debit? 
A. FACTS E-CASHIER

Q. How will I know the amount withdrawn from my account and when it is withdrawn?  
A. As soon as FACTS receives the Automated Tuition Payment Agreement, you will receive confirmation within a week from their offices. That confirmation notice will indicate the total tuition to be withdrawn, a schedule of withdrawal dates (semi-annual/monthly), and the amount of each withdrawal. In addition, you will be able to monitor your own account online. 

Q. Can I pay my tuition through FACTS with my VISA or MasterCard credit card? 
A. No. We no longer accept a payment via credit card because of the lack of participation.

Q. Does FACTS charge a fee for their service? 
A. Yes. They charge $15 per student for the semi-annual plan, and, for the monthly plan, $41 for the first member of the family. The fee is direct debited when FACTS receives your agreement. If multiple children and assuming the monthly payment plan is selected, the first fee will be $41 and the second $20.50 with the third free ONLY if the same banking information is used for all children. If different bank accounts are established for each of the children, the family will be charged $41 per child.

Q. I am using the semi-annual. My first payment is for 60% of the amount due. On the payment line of the form, it says the "amount of each payment," but I am not paying this amount twice. Won’t I be overpaying?  
A. No. FACTS will direct debit the total tuition minus the first payment. They cannot direct debit more than the total tuition. 

Q. When is the second direct debit for the semi-annual payment plan?  
A. January 5. 

Q. Can I do a monthly payment plan? When does the monthly payment plan start?  
A. Yes, you can set up a monthly payment plan through FACTS direct debiting. The monthly payment plan begins in April and ends in January. 
 
Q. How can I make my monthly payments more convenient for budgeting purposes?  
A. At no cost, you can set up a separate custodial savings account in your daughter’s name or a regular savings account at your bank which FACTS can direct debit. This may make it easier for some, rather than commingling tuition monies with a checking account. 

Q. What if something happens during the year and I need to make a change in my payment schedule or method?  
A. Call the Business Office at 301-657-4322, ext. 308.

Q. What do I do if I need to make a change in my bank account information during the year?
A. Call FACTS directly at 1-800-624-7092 to report the change.

Updated on Jan. 8, 2007