tuition

ACH Tuition Payments
for school year 2008-2098

Questions & Answers

 

How does the ACH process work?

On the 5th of each month from August to April, (your previously paid tuition deposit covers the tuition for June, 2009) CMS will transmit a computer file to its own bank California Bank and Trust (CABT) that contains the bank account numbers and tuition amounts for families who choose this option.  CABT will then debit the monthly tuition from each family’s bank account and credit it to CMS’s bank account (one transaction per family). Your tuition payment will show up on your bank statement similarly to a cancelled check.

What’s in it for me? 

One less monthly check to write; no more having to remember to pay tuition, or what the amount is; no more requirement to pay on the 1st of the month (rather, your account is debited on the 5th); no more late fees.

I have a Flexible Spending Account, how does this affect that? 

There is no change. You still need to provide your FSA people with proof that you used your pre-tax funds to pay tuition.  This can come either in the form of the debit on your bank statement or just ask for a receipt from the office.

What if there are insufficient funds in my account when the debit is made? 

Just as if your check bounced, you will be assessed a fee to cover the bank’s costs and CMS’s costs.  Then, you will have to provide a manual check for that month’s tuition since the bank was unable to get the money from your account.

Is this safe?  This is personal information I’d be providing. 

Yes, it is perfectly safe.  Your account information will be held in the strictest confidence, under lock and key.  Remember: you already provide the school with your bank account number—it’s printed on the checks you use—and your confidential information has never been, and will never be, compromised.

                                                                                               
Can I include other money I pay to the school (field trips, childcare, etc)? 

No, only the monthly tuition payments.

What if I change banks?  Can I change which bank account the money comes from once it is set up? 

Yes.  But it will be incumbent on you to provide these types of changes, in writing, to the office before the 15th of the month (in time for the next file transmission on the 5th).

I did this last year.  Do I have to sign up again? 

Yes.  The tuition amounts have changed and you have to re-authorize the school to debit your account with the new amount by providing your cancelled check (not deposit slip, please) and signing the form.

When would this start and end? 

If you turn in the Authorization form (attached) to the CMS Office before June 1, your automatic debit will begin on August 5th.   The last payment will be debited April 5, 2009.