confused w/ the installment plan... PLEASE HELP

<p>okay, so i signed up for the installment plan thru cornell, or sallie mae yesterday, typed in my checking account number, amount owed for the fall etc. >>> simply following all the directions and everything.
but i don't get it:
1. what is the diff between the intallment plan and epay?
2. so, does the installment plan automatically draws money from my checking account to the cornell bursar? if it does, does that happen on the due date, like Aug 7? because the amount in my account is still the same... meaning no one has moved any money yet.</p>

<p>sry if the answers seem fairly obvious... i'm getting so frustrated w/ all these college papers, money deal etc. </p>

<p>p.s. aside from the questions, please tell me anything you know about the installment plan... i'd really appreciate all the help : )</p>