Year Plan
Under Year Plan, Fee Plan enables the parent to plan for a full year’s fees. Under Year Plan, a parent can apply for the full year’s fees for Fee Plan to settle on their behalf as the fees fall due every term. Fee Plan will commit to pay the fees as they fall due and the parent does not have to apply every term. The parent will enter a payment plan with fixed monthly installments that cover the full year school fees. The cost of the plan is determined at the time of application either 9 or 12 monthly instalment payment plans with applicable service fees currently of 7% on a monthly reducing balance.
Application
Once your Fee Plan application is approved, we calculate your monthly instalments based on the school fees to be funded and the applicable Fee Plan service fee. Our school fees payment calculator will give you an indication of your likely instalment amounts. We send you a letter of confirmation, detailing the instalment amounts for your Fee Plan repayments for you to set up a direct debit with your Bank for the Year Plan and or submit standing order instructions for Term Plan subject to Fee Plan’s acceptance.
Renewal
Both Plans can be renewed at the beginning of every school term or year subject to your repayment consistency.
*Note: Fee Plan pays your child’s fees directly to the school but any payments for costs that you have not asked Fee Plan to cover must be made directly to the school by you. Terms and conditions apply.
How much does Year Plan Cost?
With Fee Plan you pay a low administration fee of 1.5%, subject to a minimum of Kshs.1,500 of the value of fees to be funded and a nominal insurance cost.
Indicative service fees are as follows on a monthly reducing balance:
| # | Administration Fee | Service Fee |
|---|---|---|
| 9 Monthly Installments** | 1.50% | 7.0% |
| 12 Monthly Installments** | 1.50% | 7.5% | ****** | ****** |
| *Fees are payable per semester subject to consistency in repayments |
SERVICE FEES ARE SUBJECT TO REVISION. CONTACT US FOR CURRENTLY APPLICABLE PERCENTAGES.
For further information contact us on: admin@feeplanlimited.com