Currently says the following: "Your payment due on 11/5/2023 has not been received in full. As a result, a $50.00 late fee has been assessed to your account. The past due balance on your account as of 11/15/2023 is $858.50, which includes all amounts outstanding from prior months." It can come off confusing like the late fee applied on the due date instead of later explaining is is being charged on the end of the grace period.
I would suggest something like the following:
"Your payment was not received by your due date, a late fee has been applied to your account on 11/15/2023." Something to that effect. Parents are reading the 11/5/2023 due date and thinking the late fee is applying on that day at first glance. It is the best to have the most valuable information on the first sentence to clear up any confusion.