Family Welcome - FAQs
ABOUT THE PROGRAM
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 Plans is determined by the requested amount, term requested and credit history. No-Interest Plans are 0% APR for 6,12,18 or 24 months, after that 22.98% variable APR accrues on any remaining balance at the end of the promotional period. There is no retroactive interest. 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, Extended Plans offered through Your Tuition Solution provide fixed rates that are generally much lower and with flexible terms. No-Interest Plans offered through Your Tuition Solution are 0% APR for 6,12,18 or 24 months, after that 22.98% variable APR are also offered through Your Tuition Solution. No-Interest 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.
How much will my monthly payments be?
You can get an estimate of your monthly payments by using the online payment calculator.
Is there a down payment?
There is no down payment. You simply make your monthly payments.
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 No-Interest Plans, you may borrow for full or partial tutoring expenses ranging from $499 to $32,000. 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 No-Interest Plans. 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.
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 a plan offered through Your Tuition Solution is right for you. For Extended Plans, there is no obligation until your loan documents are signed and returned to Your Tuition Solution. For No-Interest Plans, when you are approved, a credit limit 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 credit account at any time by calling Comenity Capital Bank at 866-954-9258 (TDD/TTY 888-819-1918). All payment plans may not be available in all centers. Please consult your center for availability.
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.
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 or credit account?
For Extended Plans, please call 800-628-2265 to speak to a customer service representative. For No-Interest Plans, 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 Plan, please contact us at 800-630-1663 to determine if you can be approved for additional financing.
For No-Interest Plans, you were initially approved for a credit limit. Please contact us at 800-630-1663 to determine what portion of your credit account is available. The initial and subsequent minimum amounts for No-Interest 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." All payment plans may not be available in all centers. Please consult your center for availability.
How is a request for additional funds processed for No-Interest Plans?
You can contact us at 800-630-1663 to determine what portion of your credit account 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 sufficient available credit, you may call Comenity Capital Bank at 866-308-0678 (or TDD/TTY 888-819-1918) to see if your credit limit can be increased. Your account must be at least 6 months old and you must be in good standing. All payment plans may not be available in all centers. Please consult your center for availability.
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.
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 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.