The TuitionFlex Program helps you create a customized tuition credit plan program for students and families to help bridge the financial gap. The program assists schools with enrollment and retention management, as it is designed to allow you to offer a payment plan to all students regardless of financial needs.
In addition, TuitionFlex offers numerous options that are tailored by your school to best meet the needs of specific programs and student populations. This includes minimum and maximum loan amounts, interest-free and-interest bearing options, flexible repayment terms (up to 120 months) and graduated or fully-amortized payment schedules.
All plans offer a 100% online application process; e-signature capabilities; the ability to include a credit check and co-signer options; and a school portal for submitting applications, managing certifications and monitoring application status. Additionally, the built-in credit check can include underwriting criteria set forth by your school, should you decide to provide risk based pricing for your students.
Our user-friendly platform provides a streamlined and custom application flow for both you and your students, and the entire process can be completed in just one easy session!
The TuitionFlex Program provides schools with financing solutions that are in accordance with all applicable federal Truth-In-Lending regulations. Education Loan Source monitors the regulatory environment to ensure any required changes are adopted accurately and on time – so you’re always up to date, and always compliant. All application forms, retail installment contracts, and required disclosures are generated within the online experience and are in full compliance with all applicable federal regulations. Applicable federal regulations include the Fair Credit Reporting Act, the Truth-In-Lending Act, and the Dodd-Frank Wall Street Reform and Consumer Protection Act.
In addition, the web-based application and electronic signature process adheres to all requirements set forth in the Electronic Signatures and Records Act. All documents are in PDF form and can be downloaded, saved and printed for easy record keeping. The platform also offers a full audit trail of every transaction including date/time stamped document generation, email logs and electronic signatures.
TuitionFlexPLUS offers schools the option to sell their payment plans on a forward purchase commitment basis to a third party servicer. The purchase criteria is established up front so schools can forecast their cash flows in advance.
Click here to view the TuitionFlex information sheet.