Installment Payment Plan

A $50 non-refundable enrollment fee will be assessed by CashNet each term a student enrolls in the payment plan.

The payment plan balance will be divided into three equal payments each term excluding summer with payment of the first installment due at time of enrollment in the plan.

There is a $500 minimum balance requirement to qualify for the payment plan. If the payment plan is not displayed as a payment option, your balance does not meet this minimum requirement.

Students can enroll in the payment plan by clicking the "Make a Payment" link on SOAR. Available plans will be listed under Installment Payment Plans.

Payment plans are term specific therefore, students must enroll each term if they wish to participate.

Prior term balances must be paid in order to be eligible for the payment plan.

The total budget amount for the payment plan includes current charges less anticipated aid for the plan term.

If a student incurs additional charges after signing up for the payment plan, the extra amount will be added to the payment plan balance and divided evenly between the remaining payments. Students must agree to the new amount before payments can be processed.

Students will have the following payment options: Debit/Credit Card (will be charged a 2.75% processing fee), e-Check (no fee) and Auto Pay (applicable fees still apply).

Students enrolled in the payment plan will not receive monthly bills from USM.

The plan is managed by a third party, CashNet.

CashNet will send monthly payment reminders to students enrolled in the payment plan.

Payment plan payments must be made online through the student's SOAR account. Students will not be able to pay installment payments in the office or by mail.

Students enrolled in the payment plan will not be charged monthly late fees by USM if payments are made to CashNet on time.

A $10 late fee will be assessed by CashNet when a payment becomes 15 days late.

Students will be removed from the payment plan and charged any applicable late fees when two consecutive payments are missed.