Jenzabar Partner Spotlight: How Nelnet Enables Institutions to Improve Retention With Tuition Payment Plans

This article was written for the Jenzabar blog by our partners at Nelnet.

When students struggle to keep up with tuition payments or can’t pay a semester’s cost all at once, it poses challenges for them and their institutions. Many students who fall behind face the difficult decision of dropping out, disrupting their educational goals. For institutions, these scenarios can lead to lower retention rates and a decrease in overall revenue.

Nelnet Campus Commerce offers a proactive solution to these challenges. Nelnet Payment Plans provide students with options to manage their educational costs, making expenses more manageable and college more accessible. All while giving administrators automated, flexible payment solutions to support their operational needs.

Advantages for Institutions

Payment Plans bring multiple benefits to higher education institutions by easing administrative processes, offering students financial flexibility, and boosting institutional revenue.  

• Automated Processes: Simplify payment collection for staff and streamline the process for students, which increases the number of completed payments and positively impacts your institution’s bottom line.  

• Full-Service, U.S.-Based Customer Support: Reduce the time institutions spend troubleshooting and responding to inquiries with dedicated support for administrators, staff, and students.  

• Flexible Payment Options: Provide flexible payment options to help attract and retain students who are unable to pay tuition as one lump sum at the start of the semester. This helps students stay financially on track and makes it less likely that they'll have to pause or abandon their education.  

Wanda Brown, Bursar at Mott Community College noted, “Moving to Nelnet’s Payment Plan product has reduced manual work for my team and allowed all our students the ability to set up a plan.”

Benefits for Students

For students, Payment Plans offer greater financial flexibility. Paying tuition in smaller installments allows more students to pursue their degrees with less financial stress.  

• Flexible Payment Terms: Reduce financial strain and make higher education more accessible and affordable by expanding students’ options.  

• Live Phone and Chat Support: Give students quick access to answers within the student portal and make payment management easier. 
   
• Automated Payment Setup: Allow students to focus more on their studies by reducing the stress of remembering payment due dates.

Payment Options, Unlimited

Nelnet Campus Commerce offers several types of tuition payment plans to meet the diverse needs of institutions and their students, including Nelnet’s Actively Managed, International, and Past Due Payment Plans.

Actively Managed Payment Plans

This standard plan helps students budget tuition and fees over a semester. Nelnet Campus Commerce manages all the details, from promoting the plans to following up on delinquent payments and providing full-service support for both students and staff.

International Payment Plans

Make your campus accessible to students around the world by accepting payments in international currencies. Just like with Actively Managed Payment Plans, students can budget payments over time and access Nelnet’s U.S. based customer support team to help them stay on track.

Nelnet International Payment Plans, offered in partnership with Convera, support over 140 currencies across more than 200 countries and territories. This makes it easier for international students to make payments without unexpected fees, reducing financial barriers, and enhancing access to your institution for a global student body.

Past Due Payment Plans

When students fall behind on tuition payments, getting them back on track can be challenging. With Nelnet Past Due Payment Plans, your institution can offer flexible payment options to current and former students, reducing outstanding receivables and helping students return to their studies.

Nelnet Payment Plans simplify administration, lighten workloads, and support students with increased payment options. This improves retention and helps institutions achieve financial stability. Discover how Nelnet Payment Plans can make a difference for your institution and students. Connect with Nelnet Campus Commerce today.

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