Lump Sum Discount Program
Purpose
The 1417Power Lump Sum Discount Program is for individuals with a prospective Student Employee(s) (“SE”) they desire to pre-enroll and pay the entire sum of the fees prior to the SE’s active participation to achieve a discount. The Lump Sum Discount Program option provides a lower cost because the total fee is discounted.
Monthly Lump Sum Prepayment Program
Sponsors may enroll in the lump sum prepayment plan for SE participation at any level and for any duration starting at a future date. The Lump Sum Prepayment program offers a discount on the total price at the rate of 3% for each full year of prepayment. The monthly payment is determined by multiplying the monthly participation level rate times the sum of participation months then applying any discount to determine the Lump Sum Prepayment Total Fee. Sponsors can achieve a maximum of 20% discount in the Prepayment Program.
Example
Sponsor desires to make lump sum prepayment 36 months prior to prospective Student Employee’s (“SE”) 14th birthday and elects to have the SE participate in the 1417Power program for 36 months at the $500 per month level.
The Math
Total standard fee: $500 x 36 = $18,000.00
Discount: 36 months prepayment is 3 years: 3 x .03 = .09
Prepayment total fee: $18,000.00 x (1 - .09) = $16,380.00
Saving: $1,620.00