If payments are made automatically from my bank account, does that mean the college has direct access to my account?
No. This is a common misconception about automatic payments. No one other than your own financial institution has access to your bank account. When you arrange automatic payments through NBS, you have authorized a specific amount to be paid on a predetermined date each month.
When will payments begin?
After your agreement is received by NBS, you will receive a letter or e-mail confirming the monthly payment amount and when the payment is to begin. Payments will be processed on the same date each month until the total balance is paid in full. The letter will also serve as a reminder that a $30.00 nonrefundable enrollment fee, along with your down payment, will be processed immediately from the account indicated on the agreement.
What if I miss a payment?
If you miss a payment, you will receive a letter from NBS with instructions on how the missed payment will be handled. A $30.00 missed payment fee will be assessed for the missed payment attempt. This fee is charged by NBS to offset the fees assessed by the bank when your payment is missed. Schoolcraft College may assess a $25.00 fee for agreements not paid in full by October 5th for Fall, February 5th for Winter or June 5th for Spring & Summer.
Can I make a payment directly to Schoolcraft College?
Please allow NBS to complete your term contract by processing scheduled payments. If you make a payment directly to Schoolcraft College, NBS may not receive notification of payment in time to stop or adjust your next scheduled payment. Also see below.
How are my payments affected if my tuition balance changes?
Increases made to your account balance 10 business days prior to the 5th of the month will be reflected in your next monthly payment. If your account balance increases less then 10 business days prior to the 5th of the month, your next monthly payment will not be increased.
Decreases made to your account balance 5 business days prior to the 5th of the month will be reflected in your next monthly payment. If your account balance decreases for any reason less than 5 business days prior to the 5th of the month, your next monthly payment will not be reduced.
Subsequent payments will be adjusted accordingly.
Can I make changes to my NBS account information?
Go to: www.mycollegepaymentplan.com/schcraft to review your agreement online.