Why Payment Plans?
If your electric bill, fuel costs, or grocery bills were suddenly due for the next year, how would you feel? Overwhelmed? Worried? Stressed?
Many of our customers feel this way when they first transition to homeschooling. They simply hadn't planned on investing so much money in their child's education right now. If this is you, it may be helpful to know that we do offer a couple of options for payment plans:
- Paypal's Pay Later: no payments and no interest for up to 6 months
- Klarna Credit: short-term loans with rates tailored to you and your credit.
Some Real Numbers
What are we looking at for a typical curriculum? Let's say a First-Grade Classic Complete Kit currently costs $860. You're on a budget, so how are you going to afford $860? Let's presume you are comfortable with paying later and qualify for either program.
PayPal has a six-month, no-interest loan. So if you take the $860 curriculum, and finance it through PayPal you’ve got six months to pay. It would be about $145 a month, which is a lot more reasonable than the $860 all at once.
Klarna (not Timberdoodle)
Just so you know, you won't find a "Timberdoodle finances it" option. That's not our expertise. But we’ve partnered with a finance company, Klarna, who does the financing. And they can finance it for whatever you decide. So, for example, you can choose to pay it off in a year rather than six months.
You will pay interest* with Klarna, vs. PayPal with no interest. But with Klarna, you can set it up to pay in a year, or you could set it up to pay in eight months, or whatever works for your family. Their interest rate varies with your credit score.
*Rate ranges from 0%-29.99% APR based on creditworthiness and subject to credit approval, resulting in, for example, 6 equal monthly payments of $16.67 to $18.15 per $100 borrowed. 0% APR financing only available to qualified customers with excellent credit history. A down payment may be required. Estimation of monthly payment excludes potential tax and shipping costs. Monthly financing through Klarna issued by WebBank, member FDIC.
So You Want Debt?
While we are not fans of debt in general, if paying an extra $5 a month or less lets you make your year work, we want to be sure you have the freedom to do that.
If you'd like details on using a payment plan for Timberdoodle curriculum, check out Does Timberdoodle Take Payment Plans article + video
with all of the nitty-gritty details.