# Payment plan

Also called: installments, installment plan, EMI

> Letting a student pay for a course in several scheduled charges instead of one. The headline price does not change; the timing does.

Source: https://prolaud.com/glossary/payment-plan

Installments answer "too expensive right now" rather than "too expensive", which is why they convert on higher-priced courses where a discount would only devalue the course.

The operational question is who chases the later payments. Collected automatically from a saved card or a bank mandate, nobody chases; collected by reminder, someone does, and the drop-off between installment one and installment three is the cost of that choice.

## On Prolaud

A course can be published on a plan of 2 to 12 installments at a chosen interval, collected automatically or on reminders.

## Related

- [UPI Autopay](https://prolaud.com/glossary/upi-autopay)
- [Payment gateway](https://prolaud.com/glossary/payment-gateway)