About Payment Plans

When a guarantor signs up for a payment plan in Flywire, the guarantor agrees to pay off specific visits over a specified duration of time. Payment plans can only be monthly and each monthly payment is called an installment. Each payment plan is attributed to a visit or visit(s) and the plan will either complete, default (for missed payments), or be stopped (by a staff member).

Other Benefits Offered by Payment Plans

✅ Finance-friendly Prepayment: Guarantors that pay ahead of schedule will have any prepayment taken off the back of the payment plan. The next installment will still be owed, for manual and auto-debit plans.

✅ Smart extension for missed last payments: Guarantors that miss the last installment will have the plan automatically extended in order to attempt to collect the last installment. The plan will close once the plan defaults, so if the last installment results in the plan defaulting, the plan will not extend.

✅ Payment plans accessible to all: Guarantors can create payment plans “offline” by making a payment equal to the personalized payment plan recommendation sent on their statement. The “offline activation threshold” configuration determines how much the guarantor can pay above the recommendation and still trigger plan creation.

To watch a short video on Payment Plans for Beginners, visit our Training Center!