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How To Create A Payment Plan For Your Course or Bundle

Applicable plans Starter Essentials Business Advanced

With Thinkific, you have a variety of different pricing options to choose from for selling your courses and bundles.


One of these options is payment plans - using the payment plans feature, the pricing for your product can be split into monthly payments. This is a time-tested way to increase sales as, rather than asking your student to pay $450 upfront, for example, you can simply ask them for 3 monthly payments of $150 each - a much smaller initial commitment, and an amount that they're far more likely to have the available funds to pay!


Payment plans are available as part of our Business plan and above, so upgrade now to take advantage of this and all the other features of the plan!


Below we'll cover how to create payment plans, both for courses and bundles.



Creating a payment plan for your course

1. To create a payment plan for your course, go to the Pricing tab of the course builder for that course and select the Payment Plan option.



2. Enter a Price per Payment (the amount for each monthly payment) and the Number of Monthly Payments.


3. If you choose to, enter the Days to expiry - this is the number of days for which the student will have access to the course content following the first payment.


A couple of things to note here:

- The number of days to expiry must be greater than the number of days that the payment plan lasts for (as specified by the number of monthly payments). So, for example, if the Number of Monthly Payments is set to 4 (which equals 4 months of payments; approximately 120 days), Days to Expiry must be greater than 120 days.

- If this field is left blank, the student will have access to the content indefinitely, unless you manually cancel their enrolment, or one of their payments fails.


4. Choose your Pay Button Text (it's best to keep this fairly short, as it will appear on the course card and buy button for the course).


5. Hit Save Changes and that's it! Your payment plan is created!



Creating a payment plan for your bundle

1. To create a payment plan for your bundle, go to My Courses > Bundles and select to edit your bundle.


2. Under the Pricing section for that bundle, select the Payment Plan option.



2. Enter a Price per Payment (the amount for each monthly payment) and the Number of Monthly Payments.


3. If you choose to, enter the Days to expiry - this is the number of days for which the student will have access to the course content following the first payment.


A couple of things to note here:

 - The number of days to expiry must be greater than the number of days that the payment plan lasts for (as specified by the number of monthly payments). So, for example, if the Number of Monthly Payments is set to 4 (which equals 4 months of payments; approximately 120 days), Days to Expiry must be greater than 120 days.

- If this field is left blank, the student will have access to the content indefinitely, unless you manually cancel their enrolment, or one of their payments fails.

 

4. Choose your Pay Button Text (it's best to keep this fairly short, as it will appear on the bundle card and buy button for the bundle).


5. Save your bundle, and your payment plan is created!



On the Business plan and not seeing payment plans as an option?

You will need to have a Stripe account connected to your Thinkific site for monthly subscriptions and payment plans. If you do, and you're still not seeing this option, please let us know!


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