Take Control of Your Tuition Payment
Future Scholar offers multiple withdrawal options, the best and most reliable of which is electronically withdrawing funds from your Future Scholar account to your personal bank account.
We have recently received reports of significant postal service delays for account owners who requested a paper check be mailed to the school. While all checks requested are mailed within two business days, customers have reported postal service delivery times of as much as 21 days.
To eliminate undue stress, here are a couple of steps you can take now to expedite delivery for your upcoming payments:
1) Log in to your Future Scholar account and add a bank account to your profile.
This will allow you to withdraw funds from your Future Scholar account directly to your bank account. A withdrawal to your personal bank account is still considered a qualified withdrawal as long as the funds withdrawn are used to pay for qualified expenses.
Please note, a bank account must be on file for at least 30 days before funds can be withdrawn to it, so it’s important to do this early.
2) Log in to your school’s payment portal to add your banking information.
This will allow you to electronically transfer funds from your bank account directly to the school. This is the fastest and most secure way to deliver payment to the school, and also eliminates manual processing times at the school so your payment should be posted quicker.
Most schools require a few days to validate your bank account information, so be sure to add your bank account to your student’s payment portal 3-5 business days before you plan to submit your payment.
We hope you find these tips helpful. If you have any questions about adding a bank account to your Future Scholar account, please call us at 1-888-244-5674.
