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How to Set Up Stripe for Schools

Andrea S
Updated

This article is intended to help Louisiana schools understand how to connect their Stripe Accounts to the Odyssey admin. 

If you're on step 6 of the Bank Account Set Up in How to Set Up your School Account and you're setting up a brand new Stripe Account, follow these steps: 

Basics


1. Select your business location, the type of business, and the business structure.

2. Click [Continue]. 

Business Information

  1. Fill out the required information about your school:
    1. Legal business name-School Name
    2. DBA, if needed
    3. Employer identifcation Number (EIN) of the person who manages the finances of the school and will be managing the Stripe account. 
    4. Business address- School Address
    5. Business phone number-School Phone Number
    6. Type of industry
    7. Business website- School Website
    8. Product description- Description of the school

  2. Click [Continue].

Business Manager 

  1. Fill out the required information for the business or financial administrator of the school as they will be managing the Stripe account:
    1. Legal name
    2. Email address
    3. Job title
    4. Date of Birth
    5. Home address
    6. Phone number
    7. Last 4 digits of Social Security Number
  2. Click the checkbox if you own 25% of more of the business. If not, leave the checkbox blank.
  3. Click [Continue].

Business Owners

  1. Provide information on the business owners. Alternatively, you can opt to continue without providing this information by clicking [Continue with no owners].
     

Bank Account

  1. Search for and connect to your bank institution.
  2. Once you select the bank institution, you'll get an option to automatically and quickly connect your account. Nonetheless, you can choose to do it manually.
  3. If you do the automatic option, you'll be prompted to select the bank account.
  4. Once done, click [Connect account]. 
  5. You can save your information with Link, but you can also opt to skip this step by clicking [Not now].
  6. After this step, you'll see a Success message. You can then click [Done].

Payout

  1. If you have multiple bank accounts set up, you can select the primary one you want to receive the tuition payments at.
    1. You can always link another bank account or enter bank account details manually. 
  2. Click [Continue]. 

Public Details

  1. Add public details to your account. These will be visible to Odyssey-not the parents.
    1. Statement descriptor
    2. Shortened description (optional)
    3. Customer support phone number
    4. Customer support address
  2. If you don't want the customer support phone number to be visible in receipts or invoices, click the button next to "Show phone number on receipts and invoices".
  3. Click [Continue]. 

Climate Change Donations

  1.  Choose if you want to donate any part of your revenue to combat climate change.
  2.  If you choose not to do so, click [No thanks].

Taxes

  1. Decide if you want Stripe to monitor when and where you need to collect tax.
  2. If you choose not to partake, click [Not right now].

Review and Submit

  1. Take a moment to review the information provided.
  2. If everything is correct, click [Agree and submit].

  3. Once that's done, you'll get an information submitted message, and you'll be transferred back to the Odyssey homepage.


    You'll be seeing a checkmark next to Bank Account Setup, and your status will be changed to Enrollment to mean that you've successfully set up your account and you're enrolled as a school in the Louisiana Gator ESA program.
     

Video Tutorial: 

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