Measures
- Identification
First, it is essential to identify which students pay their fees on time and which ones don’t. Just for start, you need to have an updated database. In this list, which you can create through any digital platform or specialized management software for school (like Kydemy), you should clearly mark which students are up-to-date with their payments and which are not. And, most important thing, note the exact amount due to see if it’s an unusual delay or a frequent occurrence.
- Classification
Among students who have not paid one or more fees, you should classify them into those who have occasionally delayed their payment, those who systematically delay, and those who have not paid one or more fees after several weeks or even months of reminders. You should focus on the last ones, and strive to ensure they pay and do not delay their payments again.
- Information
One of the aspects you must keep in mind if you want your students to pay their fees is to provide them with the necessary and essential information about the exact amount they need to pay. This information must be clear and accessible to all students, either through paper supports located in school or through digital platforms, such as your website.
Students should always know the amount they need to pay but also when they need to do so. Is it paid on the last day of each month or the first day of the following month? Is there a deadline for making the payment? What happens if it is not paid within the stipulated period?
With this information, you avoid students giving excuses for not paying, and if this information is kept updated and visible, it will generate trust and a certainty and tranquility environment.
- Communication
Maintaining good communication with students is crucial. This communication should be constant and transparent. You must understand that if most students have doubts or problems making their payments, you might need to review your payment methods and adapt them to your students' needs. For example, if a considerable number of students have told you they prefer to pay by card and you only accept cash payments, you should implement these improvements to ensure this cannot be an excuse for not making the corresponding payments each month.
Strategies
It's clear that students who don't pay harm to your studio in various ways. Firstly, and most importantly, this issue affects your income. It also creates an uncomfortable situation for both you, reminding them to make their payments, and for the student, who is a debtor. Furthermore, this can lead to an atmosphere of distrust and resentment among those students who do pay on time.
To avoid all this, we want to show you some strategies related to communication (in addition to the previously mentioned measures) that will help ensure your students pay.
- You can use management software for schools that allows students to be aware of the amount they owe and if it is pending payment. Each student, with their username and password, can access a personalized environment with their data always updated.
- Let the uncomfortable task of chasing your students for payment be done by neither you nor any colleague. Ensure you have the posibility to send notifications to each student if they have not made the corresponding payment. With these notices, the student will know the deadlines for paying their fees and will have no excuse for delaying.
- Develop a plan of terms and conditions that clearly states what happens when a student stops paying their fees. Clearly determine the penalties and/or sanctions depending on the amount due and the length of the delay.
If you can review and implement these strategies, we assure you will notice a significant change regarding fee payments. You will see your income increase at the end of each month and that they arrive on time and in the manner you have clearly and transparently stipulated. You will have control over the payments made in your school and be able to anticipate uncomfortable situations, preventing them from occurring in your school.
If you want to know more about how to improve your payment system, we can help you! Through Kydemy’s PAYMENT ACTIVATION SYSTEM, you will discover the advantages of implementing management software for schools that will improve fee collection processes and help you grow steadily.