This article is regarding a la carte (individual) payments for classes over the platform. For compensation regarding the LiL+ Membership & Conscious Expert Collective, see this article.
Currently, all commissions are reduced and are set at 12% for Learn It Live platform and 2.9% for the payment processor. For anyone that joins as an instructor during this period, you will be "grandfathered" in at this rate if it changes in the future.
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 and absorb this cost on our side).
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