Installment Payment Plan

CashNet Installment Payment Plan 

•  A $50 non-refundable enrollment fee will be assessed by CashNet each term a student enrolls in the installment payment plan.
• Payment plan enrollment opens once the first invoice is available for each semester. The first invoice is usually available around the 15th of the following months:
  • Fall - July
  • Spring - December
  • Summer - April
• The student's Total Due found on the What I Owe page in SOAR is divided into four equal payments for fall and spring terms and three equal payments for summer with payment of the first installment due at time of enrollment in the plan.
• There is a $500 current term "total due" minimum balance requirement to qualify for the payment plan. If the payment plan is not displayed as a payment option, your balance most likely does not meet this minimum requirement.
• Students can enroll in the payment plan by clicking Make a Payment in SOAR. Available plans will be listed under Installment Payment Plans.
• Payment plans are term specific therefore, students must enroll each term they wish to participate.
• Prior term balances must be paid prior to being eligible for the payment plan.
• The total payment plan budget amount for each semester 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 consolidated and added to the payment plan balance then divided between the remaining payments. Students must agree to this consolidation before payments can be processed.
• Students have the following payment options:
  • Debit/Credit Card (2.85% convenience fee), 
  • e-Check ($0.50 Convenience Fee per eCheck)
  • 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 by clicking Make a Payment. 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 10 days late.
• Students will be withdrawn from the payment plan and charged any applicable late fees when two consecutive payment due dates are missed.
• Once a student has been withdrawn from the payment plan by CashNet they will no longer qualify for enrollment in the payment plan.
• Transcripts will not be released for a student who owes a balance and is enrolled in the payment plan for the current term.