For teachers, Learn It Live operates on a commission basis similar to other marketplaces like eBay, Uber, or Airbnb.
Currently, all commissions are reduced and are set at 12% for Learn It Live platform and 2.9% for the payment processor.
The payment processing fee is built into all of the commissions, so if the Learn It Live commission is 12% and the payment processing fee is 2.9%, it means your take from every sale is 85.1%. There is also a static $.50 transaction fee that is accessed on each transaction. This goes to the payment processor for the static per transaction fee and the static per transaction payout fee. Per a recent policy change at Paypal, Learn It Live also covers fees for refunds that the payment processor does not refund to us (IE: we no longer receive the 2.9% fee back on charges).
So here is how a transaction of $10 and $100 would come out with a 14.9% total commission rate:
$10 = $10 - $0.50 = $9.50 * 85.1% = $8.0845 (instructor's take home)
$100 = $100 - $0.50 = $99.50 * 85.1% = $84.67 (instructor's take home)
- Payments remain in the "Pending" category until after a class ends in case an instructor needs to cancel and the students refunded.
- Payments are then transferred on the 15th of the month or, if the 15th falls on a weekend day, it would generally be the following Monday.
- If it is absolutely critical for an instructor to be paid prior to the 15th of the month send a note to email@example.com with your case.
- Generally, only amounts above $20 are transferred due to the fees associated with the money transfer. If you have less than $20 but still want the fees transferred please send a note to firstname.lastname@example.org