Installment Payment Plans

Installment Payment Plans, administered by Transact (FKA Cashnet), are available to NEOMED students. These payment plans are an alternative to large term payments and help limit student borrowing. Plans are available for the Fall and Spring semesters only.

Key Features

• Convenient monthly payments not to exceed six (6) months
• 24-hour account access
• Toll-free personal service Monday-Friday at 877.821.0625
• Online enrollment via electronic signature
• FERPA compliant pins for parents
• Automatic recurring payment options
• Offers different payment options including: credit card, ACH, 529, and debit cards
• Auto generated emails or texts for bills, reminders, and receipts
• Payments will be updated to your student account immediately after making a payment

In addition, if you are expecting loans, grants or financial aid there is no need to wait to enroll after your tuition is billed.  Once you enroll in the installment payment plan, your monthly payment will be adjusted during the semester based upon your account balance. If your account balances decreases your monthly payment amount will be adjusted automatically. However, if your account balance increases you must first approve the payment increase through Transact.  Once approved, your monthly payment amounts will be adjusted accordingly. If you do not approve the adjustment, the additional charges will be your responsibility to pay in full by the due date.

Enroll in an Installment Payment Plan

To enroll in an installment payment plan you must first access Transact through your Student Self-Service account after your tuition and fees have been added to your student account. All applicable installment payment plan options that are available to you will be displayed on your home page.
Download enrollment instructions [pdf]

Installment Payment Plans available for 2022-23

Enrollment in a payment plan is on a term basis. You must re-enroll in a new payment plan each term.

* Last Enroll date is the last day to enroll in a plan to include that month as a valid payment month.

** Invoice Date is the date Cashnet will send an electronic invoice about the upcoming due date. This date will be 5 days before the due date and can vary depending on the number of days in any given month. This date is used as a reference point, but you will receive your invoice about the 27th of the month.

*** Due Date is the date the payment is due to Cashnet for your payment plan.

**** Late Fee date is the date Cashnet will charge a late fee if payment has not been received.

***** Due to the short length of the term, there are no payment plans for the M1/M2 summer term.

Installment Plan Specifics

The following specifics are applicable for all installment payment plans:

• A $35 per semester per plan enrollment fee must be paid at the time of enrollment.
• Bills will be sent via email or text on the 27^th of each month.
• The payment due date will be on the first of the month regardless if the 1st falls on a weekend.
• One reminder will be sent the day following the due date if payment is not made on time.
• A $10 late fee will be assessed 15 days after the due date if payment is not made.
• Payment plans will be cancelled automatically 10 days after the 2^nd missed monthly payment and/or 10 days after the final payment is due and not paid.
• Payment will be due in full immediately following the cancellation of a payment plan. Failure to due so will result in a hold on the student account.
• Payments made via credit or debit card will be charged a 2.75 percent convenience fee for domestic cards or 4.25 percent for international cards by Transact.  This convenience fee is not charged when paying the enrollment fee with a credit card.
• If an autopayment gets declined, Transact will attempt to process the payment for three days.  After the third day, the monthly payments will be suspended, and payment must be made via a different method immediately.
• Once enrolled in a installment payment plan, all payments must be made through Transact.  The Accounting Office cannot accept payment(s) from the student for any account balance that is included in the payment plan.
• Students are required to either pay tuition and fees in full or be enrolled in a payment plan 20 days after the start date of the semester. Failure to do so will result in a $50 non-refundable late fee and a hold being placed on your educational record.