Just the FACTS, Ma'am - Letters

University Business, April, 2002 by Randall Bretz

FACTS Tuition Management was pleased to be mentioned in Alfred Branch's article about e-Payment solutions in your February 2002 issue. Our e-Cashier service [is], however, very different from the payment solutions being offered by TouchNet, infiNET, and Sallie Mae.

First, FACTS does not charge the institutions to establish an online tuition payment solution; we operate as an application service provider and our costs are met through the modest fee we charge each individual person making payments. Second, we are the only (or at least one of very few) services to offer ACH payments through bank accounts as well as credit cards. ACH payments are a financially efficient and economical way for institutions to handle money at a much reduced cost, when compared to credit card transactions. We also find that people prefer to make payments directly from their bank accounts when given the choice. Third, FACTS offers full payment plans, as well as down payments and monthly payments, to help students and families meet their tuition obligation. Many others offer only a single payment. I'd like to make Mr. Branch aware of our distinctions. Thank you, and I look forward to the next issue of the magazine.

RANDALL BRETZ
Vice President for Customer Service
FACTS Management Company

www.factsmgt.com