Lumion for Payments

Empowering Education through Financial Access

Fill your classrooms with Lumion’s invoicing, custom payment plans & loan marketplace. Centralized in one payment flow while Lumion’s servicing professional handles collections.

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Payment Solutions That Fit Every Student

Payment Options

  • Invoicing: Simplify one-time payments with low rates

  • Custom Payment Plans: Solutions tailored to your institution’s goals and your students’ financial capacities.

  • Interest-Bearing Plans: Offer extended repayment with capped, competitive rates

Single-Application

  • Introduce more lenders to your students.

  • Simplify loan comparisons to help students choose

  • Customize offerings and flow.

Student Servicing

  • Eliminate all in-house servicing and collections efforts

  • Provide students with 24/7 human support

  • Visibility into servicing team activity

  • Amazing student payment portal

benefits

The Impact of Better Payment Options

Enrollment
Payments
Reporting

Enrollment

Enrollment

  • Eliminate financial rejection from the enrollment journey.

  • Reduce decision paralysis by removing barriers.

  • Streamline the application and approval flow reducing applicant burnout.

  • Automate follow-up and provide alternatives in the case of lender rejection.

70%
of trade and tech school applicants cite affordability and financing as their top concerns.
650,000+
Application burnout and disjointed processes for result in 650,000+ missed trade and technical enrollments each year.
140,000+
student payments handled

Retention

Retention

  • Boost retention by lowering recurring costs, making it easier for students to stay enrolled and their payments on track.

  • Keep students focused on their education by offering manageable, predictable payment schedules, paired with a modern payment experience.

  • Minimize late payments and defaults with proactive tracking and communication.

20%
reduction in student dropouts due to relief of financial stress.
38%
of students fail to pay if the process is too long or complicated.

Save Time and Increase Repayment Rates

Save Time and Increase Repayment Rates

  • Free your team to focus on nurturing student relationships and delivering education rather than chasing payments.

  • Remove the discomfort of financial conversations with students.

  • Increase repayments because of Lumion’s repayment technology and human team.

90%
Avg 90%+ repayment rates across our payment plans.
30%
Cut administrative tasks by 30% or more.
How it works

A Simplified Process for Schools and Students

01
Set Up Your Tuition Flyer

Use your Lumion dashboard to create a list of customized payment options tailored to your school’s and students’ needs.

02
Students Pay Instantly or Apply with Ease

Students interact with your Lumion portal, explore their options, pay right then and there or submit applications.

03
Sign and Secure the Agreement

Both the school and student review and sign a digital contract, ensuring transparency and mutual understanding.

04
Lumion Initiates Repayment

From the start, students are informed about their payment plans and the collections process, ensuring transparency and setting clear expectations. Students also have access to their Lumion payment portal at all times.

05
Custom Notifications

Lumion sends custom text and email reminders about upcoming payments, helping students stay on top of their payment obligations and reducing late payments.

06
Human Touch

Lumion’s dedicated servicers provide personalized outreach to students through phone calls, texts and other necessary methods.

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