Family Welcome - FAQs

If you don't find the answer to your question here, please give us a call.

ABOUT THE PROGRAM

  • Are interest rates fixed or variable?

    Unlike many banks and other financial institutions, interest rates for extended plans are fixed and are as low as 3.99% APR. No Finance Charges apply to promotional plans (no-interest if paid in full within 6, 12, 18 or 24 months). Retroactive interest will be assessed if a family misses two consecutive monthly payments or if the balance is not paid in full during the promotional period. All payment plans may not be available in all centers. Please consult your center for availability.

  • Why do you offer a fixed rate on your extended plans?

    Interest rates have reached historic lows over the past few years. Many financial experts believe that rates can only go up. Fixed rates on extended plans mean predictable monthly payments that won't rise unexpectedly due to interest rate fluctuations.

  • How is my interest rate determined?

    The interest rate on extended payment plans is determined by the length of the term, number of months and your credit information. Promotional plans are no-interest if paid in full within 6, 12, 18 or 24 months. Retroactive interest will be assessed if an account holder misses three consecutive monthly payments or if the balance is not paid in full during the promotional period. All payment plans may not be available in all centers. Please consult your center for availability.

  • Can I finance tutoring through a bank?

    There are personal loans available from most banks and credit unions. However, Your Tuition Solution’s extended plans offer fixed rates that are generally much lower and with more flexible terms. Your Tuition Solution also offers promotional plans which are no-interest if paid in full within 6, 12, 18 or 24 months. Promotional plans may not be available through your local bank or credit union. All payment plans may not be available in all centers. Please consult your center for availability.

  • My learning center accepts credit card payment. Why would I want to choose your payment plan instead?

    Credit card interest rates are often variable. Rates are generally higher, meaning that you will likely pay more in interest. With a payment plan from Your Tuition Solution you keep your credit card purchasing power available for other purchases. In addition, extended payment plans offer the security of a fixed rate with a fixed payment. Our promotional plans are no-interest if paid in full within 6, 12, 18 or 24 months. All payment plans may not be available in all centers. Please consult your center for availability.

  • How much will my monthly payments be?

    For extended plans, you can get an estimate of your monthly payments by using the on-line rate calculator. For promotional plans, which are no-interest if paid in full within 6, 12, 18 or 24 months, the minimum payment due will be the greater of: (a) $25.00; or (b) 4% (rounded up to the nearest dollar) of the New Balance shown on your Statement. However, in order to pay the balance off within the promotional period and avoid retroactive interest charges, we recommend dividing the amount of your loan by the term you have selected and paying this amount each month. All payment plans may not be available in all centers. Please consult your center for availability.

  • Is there a down payment?

    There is no down payment. You simply make your monthly payments.

  • How much can I finance?

    For extended payment plans, you can finance qualified tutoring expenses that range from $2,000 to $40,000. For promotional plans, which are no-interest if paid in full within 6, 12, 18 or 24 months, you can finance qualified tutoring expenses that range from $499 to $25,000. Subject to credit approval. All payment plans may not be available in all centers. Please consult your center for availability.

  • How do I know if my learning center uses Your Tuition Solution?

    You can use Your Tuition Solution to pay for tutoring at most Learning Centers. Give us a call for more information.

  • What can I use the plan to pay for?

    For extended plans, you may borrow up to the full tutoring bill ranging from $2,000 to $40,000. (You can also use the plan to pay for tuition at virtually any accredited K-12 private school. Give us a call to learn more.) For promotional plans, which are no-interest if paid in full within 6, 12, 18 or 24 months, you may borrow for full or partial tutoring expenses ranging from $499 to $25,000. Subject to credit approval. All payment plans may not be available at all centers. Please consult your center for availability.

  • Can I pay part of the tutoring and finance the rest?

    Yes, as long as the portion you are financing is at least $2,000 for extended plans and $499 for promotional plans (no-interest if paid in full within 6, 12, 18 or 24 months). All payment plans may not be available at all centers. Please consult your center for availability.

  • What if I need to finance tutoring bills for my other children?

    You can finance more than one tutoring bill at a time, combining them so you have one convenient monthly payment.

  • Do I need to put my house up for collateral?

    No. Extended plans are unsecured loans, meaning that no collateral is required. This leaves you the freedom to tap into the equity of your home for other purposes. Promotional plans (no-interest if paid in full within 6, 12, 18 or 24 months) are lines of credit and do not require collateral.

Back to Top

ABOUT APPLYING

  • Will I qualify?

    Most families with a reasonable credit history should qualify. The basic requirements are $17,500/year income, not currently delinquent on a major trade line (mortgage, auto loan, credit card), no bankruptcy in the past three years, and a debt-to-income ratio below 50%.

  • How do I apply?

    There are two quick and easy ways to apply: online or by calling 800-920-9777.

  • Is there a fee to apply?

    There is no application or supplemental fee.

  • How long does it take to fill out the on-line application?

    It only takes about five minutes. The short application includes basic questions such as name, address, household income, and employment information.

  • How long does it take to receive a response to my application?

    Credit decisions are typically made instantly. When a little more time is needed, applicants typically receive a decision within hours or the next business day. On rare occasions, you will be contacted for clarification or for additional information.

  • If I apply and am accepted, am I committed to your payment plan?

    Absolutely not. There is no obligation associated with filling out an application. Once approved, you decide whether Your Tuition Solution is right for you. For extended plans, there is no obligation until your loan documents are signed and faxed back to Springstone. For promotional plans (no-interest if paid in full within 6, 12, 18 or 24 months), when you are approved a line of credit will be extended immediately. There is no obligation until the approval notification form is signed and returned and a purchase is made on the account. You may cancel your line of credit at any time by written request. All payment plans may not be available in all centers. Please consult your center for availability.

  • Who is eligible to apply? Who can be a co-signer?

    Anyone may apply or co-sign on an application that is a U.S citizen or resident alien currently residing in the U.S. with a minimum income of $17,500 per year.

Back to Top

ABOUT MY PLAN

  • When is my first payment due?

    First payment is due in approximately 3 to 7 weeks after receiving the signed loan agreement.

  • What are my payment options?

    You can pay by check or opt for convenient automatic deductions from your checking or savings account. For extended plans, you will receive a coupon book. For promotional plans (no-interest if paid in full within 6, 12, 18 or 24 months), you will receive a monthly statement. All payment plans may not be available in all centers. Please consult your center for availability.

  • Does the money go to me or the learning center?

    The payment goes directly to your Center.

  • Can I pay back the loan earlier?

    Absolutely. You have maximum flexibility, because there are no prepayment penalties and you'll save on interest charges.

  • How can I find out the balance on my loan?

    For extended plans, please call 800-336-1330 to speak to a customer service representative. For promotional plans (no-interest if paid in full within 6, 12, 18 or 24 months), please call 866-954-9258 (or TDD/TTY 1-888-819-1918).

  • What if my child needs additional tutoring?

    If you have an existing extended payment plan, please contact us at 800-630-1663 to determine if you can be approved for additional financing. An existing balance with Your Tuition Solution can be rolled into a request to finance additional tutoring, but an amount for new tutoring must be part of the request.

    For promotional plans (no-interest if paid in full within 6, 12, 18 or 24 months), you were initially approved for a line of credit. Please contact us at 800-630-1663 to determine what portion of your line of credit is available. The initial and subsequent minimum amounts for promotional plans are: $499 for 6 months, $999 for 12 months, $1,499 for 18 months and $2,499 for 24 months. This information is also available on your most recent monthly statement under the heading "Statement Summary / Available Credit."

  • How is a request for additional funds processed for promotional plans (no-interest if paid in full within 6, 12, 18 or 24 months)?

    You can contact us at 800-630-1663 to determine what portion of your line of credit is available. If you have available credit we will process the additional transaction over the phone at that time - all we need is the amount of the additional transaction and the term selection. The approval notification form will be available within seconds at your center or we can fax or mail it to you. Simply print, sign and fax it to us and you’re done!

    If you do not have a sufficient line of credit, you may call Comenity Capital Bank at 866-954-9258 (or TDD/TTY 888-819-1918) to see if your credit line can be increased. Your account must be at least 6 months old and you must be in good standing.

  • What happens if my child leaves before the end of the tutoring period?

    Please check with your Center about their refund policies. Regardless of any refunds you may be entitled to, you are still responsible for your loan obligation. For your convenience, any refunds due from the Center are sent directly to Your Tuition Solution and applied to your account to reduce the remaining balance.

Back to Top

ABOUT MY CREDIT

  • What is a debt-to-income ratio?

    Also known as a "D-to-I" ratio, it measures how much of your monthly income goes toward paying your mortgage or rent, credit cards, car loans and other obligations. Your total monthly payments divided by your monthly income equals your debt ratio. The lower the ratio, the better.

  • What is a co-signer? Who can co-sign for a loan?

    If we are unable to qualify you for our program due to limited credit history or income, you may be able to use a co-signer to qualify. Any other person that is a U.S. citizen or resident alien currently residing in the U.S. with a minimum income of $17,500 per year is eligible to be considered as a co-signer.

  • What is a FICO score?

    A FICO score is the dominant method lenders use to assess a borrower's risk. Named after Fair Isaac Corp., the firm that developed the scoring model used by the three major credit bureaus (Experian, Trans Union, and Equifax), your FICO score is calculated using a computer model that compares the information in your credit report to what's on the credit reports of thousands of other customers. FICO scores range from about 300 to 850 and generally the higher the score, the better your credit rating.

  • How can I find out my FICO score?

    You can order a copy of your credit report, including your FICO score at www.annualcreditreport.com

  • Can I still qualify if I've filed bankruptcy in the past?

    If you filed for bankruptcy within the past 3 years, we would not be able to make you eligible for the program. However, if the bankruptcy was filed at least 3 years ago and you have a minimum of 2 years of reestablished credit in good standing (major credit card, car loan, mortgage), the likelihood for approval would be relatively high.

  • Should I apply if I know I have poor credit?

    While it doesn't cost anything to apply, we would strongly urge poor credit applicants to avoid placing an application so as not to further lower their credit rating. Each time a credit inquiry is placed on your credit report, your credit score can potentially be negatively impacted.

Back to Top