Tuition and Fee Assessment and Payment of Charges
The University is on a semester schedule; therefore, students are billed at the beginning of the summer, fall, and spring semesters. Bills are viewable online via Banner Self-Service (http://www.neomed.edu/students). In summer, tuition and fees are due on the start date for returning students and 2 weeks before the start of the semester for new students. For fall and spring, tuition and fees for all students are due 2 weeks before the start of the semester. The fees will be assessed directly to the student’s account 10 days before the due date. Students are notified by way of their NEOMED email when those charges are assessed; paper bills are not mailed. The current academic year’s tuition and fee schedule can be reviewed on NEOMED’s website at https://www.neomed.edu/bursar/fee-register/.
Students may pay by cash, check, or other normally accepted means. Credit card and electronic check payments must be made through the student’s Banner Self Service account by way of Transact and are not accepted in the accounting office. Students are required to either pay their tuition and fees in full, accept federal or private loans, or be enrolled in an installment payment plan, 20 days after the billing date. Failure to do so will result in a non-refundable $50 late fee and an accounts receivable hold placed on the student’s educational record. This hold will prevent the student from registering for classes, viewing grades, etc. Failure to pay the balance in full by the due date, failure to accept federal or private loans, failure to enroll in an installment payment plan, or failure to pay the installment payment plan in accordance with the established due dates will result in non-processing of a student’s registration and the withdrawal of permission to attend classes and/or participate in clerkships. No student will be allowed to graduate unless all outstanding account balances owed to the University are met and the loan exit paperwork has been turned in to accounting. No arrangements will be considered for any student who cannot pay the balance of the fees due before the end of the summer term or a semester.
Payment Plans
Educational expenses are easier to pay when spread over predictable monthly payments. Our Installment Payment Plan, administered by Transact, is an alternative to large term payments and helps limit borrowing. The current academic year’s payment plan schedule can be viewed on NEOMED’s website at https://www.neomed.edu/bursar/installment-payment-plans/.
Key features of the Installment Payment Plans include:
Convenient monthly payments not to exceed 6 months
24-hour account access
Toll-free personal service Monday-Friday at (800) 339-8131
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 payment plan, your monthly payment will be adjusted during the semester based upon your account balance. If your account balance 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.
Details on Installment Payment Plans
To enroll in an installment payment plan you must first access Transact through your Banner Self-Service account (http://www.neomed.edu/students) after your tuition and fees have been added to your student account. All applicable payment plan options that are available to you will be displayed on your home page.
The following specifics are applicable to all 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 27th of each month.
The payment due date will be on the first of the month regardless of 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 2nd 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 do so will result in a $50 non-refundable late fee and a hold on the student’s account.
Payments made via credit or debit card will be charged a 2.95 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 an 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 billing date. Failure to do so will result in a $50 non-refundable late fee and a hold being placed on your educational record.
Tuition, Fees, and Insurance Refund Policy
Registration does not automatically carry with it the right to a refund or reduction of indebtedness in cases of failure or inability to attend class or in cases of withdrawal. The student assumes the risk of all changes in business or personal affairs. NOTE: The term “refund” used in this section refers to the amount of tuition credited to the student account, not the portion of a payment that will be returned to the student.
Please see Tuition, Fees and Insurance Refund Policy | Policy Portal | NEOMED.
