Student Financials

Bridge the gap between students and their financial accounts by setting up your fee management framework in Education Cloud. Load tuition and fees for each academic interval and apply fees to learning programs and courses. Additionally, you can incorporate the Students Financials agent to help students view their account balances, get a detailed breakdown of their fees, and obtain more information about a given fee.

Important Student Financials requires the Education Cloud, Revenue Cloud Advanced, and Revenue Cloud Billing licenses. To increase the number of billing events, add the Revenue Cloud Billing Events add-on license.

For more information, see Student Financials Agent for Education Cloud.

• Prepare Your Org for Student Financials
  Enable student financial account management options and configure the necessary permissions for students and staff.
• Define Fee Structure
  Model student fees, such as tuition and meal plans, by using products grouped into price books. Associate these price books with specific academic terms or years to manage fees that change over time or vary by student.
• Compute Fees
  Create academic orders for learners by using the Create Learner Order invocable action. Incorporate pricing resources into your workflows to set up customized academic order pricing.
• Refund Management
  Automate the end-to-end refund process for student financial accounts. When your students drop courses or reduce orders, Student Financials automatically identifies original invoices, settles credit memos against outstanding balances, and initiates payment refunds. Your students receive timely, accurate disbursements, and you maintain a complete audit trail for compliance.
• Set Up Payment Plans
  To help students meet their payment commitments, offer flexible payment options that spread tuition across multiple installments and match their financial accounts and debt situations. Configure monthly, quarterly, or custom schedules that match your billing cycles and automate payment collection through integrated gateways. Your students track their plan status and upcoming auto-debits in real time from the learner portal.
• Reconcile Student Accounts
  Save staff time with automated account reconciliation that offers granular control and visibility. Provide students with a view of their financial obligations through a unified dashboard on the learner portal. To reduce administrative inquiries, students can access invoices, running balances, and full payment histories in one place. Students can also initiate payments and track their financials.