FACTS Management
Facts About Facts Management
Facts Management, the company strong-arming for Catholic school tuition charges an exorbitant monthly “convenience” fee if you choose to pay the tuition on your credit card which they deduct as an auto pay. Even if you want to pay the whole amount up front they still charge the same fee, no breaks given for paying early. The “convenience” fee is for whose convenience?
To avoid that fee, you can choose to have them deduct it from your checking account, which is risky in any auto pay process. It’s like big brother. And then on top of it they charge a fee when you enroll in the program. I wonder if the archdiocese is aware of FACTS Management nickel and dimming the customer. And I am insulted by the insinuation that I’m a deadbeat and can’t pay my child’s tuition on a monthly basis OR immediately up front directly to the school. I wonder how much they are charging the school to provide this service. Believe me they ARE becoming a monopoly and that’s never good for business because there is no competition.
SCAMS, Complaints, Reviews 
The “convenience fee” is the cost that credit card companies pass on to FACTS to process their payments. You pay this with every credit card transaction, although in this case it makes no business sense for the school or FACTS to absorb the cost. Just use your checking account info. I don’t see how this run of the mill financial transaction is “like big brother”.
The interchange rate for credit cards is 1.95%, not 2.50%. This organization makes 0.55% on every credit card transaction. This is pure profit for them.
I agree that the convenience fee is crazy. The company should pay the own merchant fees and they make plenty of money from the diocese. They will loose alot of students, when parents decide it is not okay to pay a fee to use your credit card, when there is no way to pay in person.
Facts is horrible and not student friendly by any means. I will never ever use their services again and plan to make sure all are aware of the potential ripoff.
The reason FACTS doesn’t pay the convenience fee is because they are processing the payments for the school. The school can either absorb the fee for their payers or if that’s not feasible, then they can choose to have the payers pay it. The money FACTS makes is from the enrollment fee, not the convenience fee. They could just not offer credit cards all together to avoid the issue, but at least they are giving us the option. Also, I don’t see the problem with using a bank account for autopay.
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be prepared to get pay additional costs! the schools may like this because they dont have to chase people for money but as parents this program cost money to start and god forbid you dont have enough to cover the bill when they try to take it out..OVERDRAFT FEES!! if you have big bucks and pay all your bills automatically then its a good program but if your the type who has to check your account to see and make sure you have enough than…FEES!
an absolute nightmare.horrible company.lots of aggravation.DONT DO IT!
FACTS is a cold heartless fee machine that god forbid you run behind. They arbitrarily pull fees out of your account messing up your balance and bouncing your checks. They aren’t people they are machines. Don’t deal with them if possible