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Tuition & Payment Plans

As a school community, we are committed to making an education at DePaul Prep possible for families from diverse backgrounds. DePaul Prep understands that Catholic high school education is an investment in your future. Tuition is the backbone of our budget. There is a gap between tuition charged and the true cost of educating each student. Our Board of Directors, generous donors, and outside charitable organizations compensate the difference between the actual cost and the tuition charged.


 


Tuition, Payment Plans, Scholarship, & Financial Aid: How does it work?


Tuition Payment Plan Information
Tuition collection begins in July. DePaul College Prep will finalize the terms of your tuition payment plans in FACTS between May 1 and mid-June. Please watch for a “Notice of Payment Plan Finalization” from FACTS in your email. Check the balances for accuracy and the payment plan type (monthly, quarterly, semiannual, annual) to ensure it meets your needs. As a reminder, if you select payment in full, the entire amount of tuition will be withdrawn from your account in July. Payments in full made by July 15 receive a 2% discount.

If you selected any payment plan other than pay in full, a one-time per school year payment plan fee (enrollment fee) is assessed by FACTS upon finalization of your tuition agreement. Fee amounts vary based on your payment plan frequency and do not exceed $50 at this time.

FACTS
You are the owner of your tuition payment plan and are able to self-manage, view balances, change payment methods, and view the payment history of the account on your own. If you need assistance, the number for FACTS Customer Service is 866-441-4637. Many customer requests can be handled by you and FACTS and do not require DePaul Prep’s assistance. FACTS will direct you to the tuition office when necessary. Please allow a minimum of 72 hours to make any and all changes.

Families can choose from preferred payment dates in FACTS to adjust a payment date up to 72 hours before the scheduled payment event. The ability to make a timely courtesy adjustment to your payment date through the tuition office is not guaranteed.  You should carefully review your payment plan to ensure it meets your pay-day schedule at the beginning of the school year. 

Payment Dates If the payment date falls on a weekend or banking holiday observed by the Federal Reserve, the payment will be attempted on the following business day.  Although FACTS specifies the date each payment will occur, your financial institution determines the date and time of day the payment is debited to the accountBe aware that payments due on a Monday may be put on a bank hold by your bank on Friday. Payments due on a Holiday will be placed on hold the day before or the Friday before a long holiday weekend.

When are funds withheld from my account? The payment date FACTS displays is the date FACTS will request your bank to withdraw the funds from your account. FACTS must submit the payment information to the Federal Reserve one-business day before the payment date in order to ensure the payment is withdrawn on the date disclosed.

Why does my bank account show the payment withheld sooner than the date you display? Depending on your bank’s policies, the payment may show as a pending payment on your account before the payment date. This may impact your available balance and limit the funds you are able to withdraw. Please refer to your bank’s specific policies on what events impact your available balance.

I need to change the account being used for payments; how do I do that? You can change your financial account online. You will need to change your financial account at least two (2) business days before the payment date.

Can I change the date of my payment? Yes, but there are some customer requests that only the school can approve. In those cases, FACTS will direct you to contact our Tuition and Financial Aid Manager, Anne Marie Piazza, for account adjustments. We will do our best to accommodate requests but cannot guarantee that a courtesy adjustment can be made before your scheduled payment date.

What is a returned payment fee? A returned payment fee is incurred by the plan owner when a payment fails due to insufficient funds in the consumer’s bank account or when a credit card is used for a scheduled payment, and the credit card is either invalid or the credit limit is exceeded.

Our policy As described in your payment plan terms and conditions, if a payment is returned, FACTS will assess and automatically process a $30.00 returned payment fee.

Will I know if a returned payment fee is going to be charged to my account? Yes, if you have a payment that fails, you will be notified of the failure. The notice will tell you the date on which a $30.00 returned payment fee will be processed and the date on which the failed payment will be rescheduled (unless you take some action in the meantime to make the payment). If the $30.00 returned payment fee fails, it will be reprocessed immediately. If FACTS detects a pattern of failed returned payment fees, FACTS may prohibit you from enrolling in payment plans administered by them in future years until the fees are paid.

Can I make up a failed payment before the rescheduled payment date? Yes. You are always able to bring your account current by making a payment online or over the phone. 

Will I be charged an overdraft fee by my bank if my payment fails? That depends on your financial institution. We understand that fees can be burdensome, which is why we strongly encourage all payers to pay careful attention to their payment schedule and do everything they can to avoid failed payments.

Merit Scholarship
If your student earned a merit scholarship based on their entrance exam score, that information will be communicated to you in your acceptance letter.  Merit scholarships show as a credit in your tuition payment plan.

Financial Aid
The financial aid application for the 2024-2025 school year will open on October 1, 2023. Returning families must apply for financial aid every year. The application closes for incoming freshmen on December 31, 2023, and on February 8, 2024, for returning families. Financial aid decisions are made only on complete and verified applications. Please carefully review our financial aid FAQs on the financial aid page of this website. Financial aid awards show as a credit in your tuition payment plan.

Outside Scholarships and Grammar School Awards
If you have earned an outside scholarship such as a renewable Big Shoulders Fund Scholarship, HighSight, LINK, HFS, HFY, or a scholarship awarded by your grammar school, please send proof of scholarship to apiazza@depaulprep.org as soon as possible so that the adjustment can be made to your payment plan. These scholarship awards show as a credit in your tuition payment plan upon verification. If we do not receive proof of scholarship from you, we will not know that your account should be credited.

Incidental Billing & FACTS
There are two features to your FACTS account: Tuition Payment Plans and Incidental Billing.  Tuition Payment plans are for your annual tuition and the IB Program. Incidental Billing is for bus fees, AP Exams, Summer School, Kairos Retreats, annual registration, and other incidental charges.  Families are required to attach a valid and active payment method to both accounts.  You will never be charged in either account without prior notice via email from FACTS.  To dispute charges, please email apiazza@depaulprep.org.

Withdrawals From DePaul College Prep
Tuition payment plans begin in July for every family that paid a registration fee. Incoming freshmen families must email admissions@depaulprep.org  to withdraw their acceptance and close their FACTS account. Returning families, please refer to the Parent Student Handbook, which explains that you must notify the registrar mhubbard@depaulprep.org to initiate a transfer. The Registrar will notify the Tuition Office to close your FACTS account, after you have submitted your authorized signature to the Registrar. All balances must be paid in full to complete the student transfer.  Please carefully review the Tuition Refund Policy below.

Tuition Refund Policy 
Tuition payments support faculty salaries and operating expenses for the entire academic year. Tuition payments are collected from July through April. If a student withdraws or is dismissed for any reason during the period from July through May, monthly tuition payments which have been made will not be refunded. If tuition payments are paid in full, paid semi-annually, or paid quarterly, a prorated tuition payment may be refunded at the school’s discretion.