@CreditCuriousity wrote:err post removed cause i missed period on 25%..
You better get a Lowes Card and buy some lumber. You'll need it for the dog house! 
I worked at SallieMae/Navient until last year. At that time we serviced both private student loans and Dept of Education/Federal loans. We could take credit card payment for any amount on private loans for a $15 fee. We could only accept CC payment on Dept of Ed/Federal loans for the minimum payment amount. It was explained that the rule was because credit cards are dischargable in bankruptcy and student loans are not. They don't want a lot of people paying off the loans then filing BK and avoiding the debt. I'm not sure why the automated phone payment thing isn't consistent.
@iheartwings wrote:
@jsucool76 wrote:
student loans suuuuuccckkkkkkYes...yes, they do.
While the idea of getting $$$ back for paying my student loan on my CC sounds great, I prefer the savings I get from the 0.25% interest rate deduction for having my loans on AutoPay. YMMV, but the savings from that reduction in interest is greater by the day than what I would make back in rewards on my CC from a loan payment.
I guess it would depend on 1) whether your eligible for the 0.25% interest rate reduction for autopay (not all loans are, but I think many of the federal ones do have this benefit), 2) the amount you owe, and 3) the number of rewards you get from your credit card versus the amount of savings based on the interest rate reduction.
I will have to do the math on this. .25% may be a significant chunk of change, but by the same token by not doing autopay I am able to use these student loans to help top off my rewards accounts and when I need to make initial spend for the signup bonus (which can be very valuable).
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@wineman wrote:I worked at SallieMae/Navient until last year. At that time we serviced both private student loans and Dept of Education/Federal loans. We could take credit card payment for any amount on private loans for a $15 fee. We could only accept CC payment on Dept of Ed/Federal loans for the minimum payment amount. It was explained that the rule was because credit cards are dischargable in bankruptcy and student loans are not. They don't want a lot of people paying off the loans then filing BK and avoiding the debt. I'm not sure why the automated phone payment thing isn't consistent.
They don't charge a fee when you call in, but that is using the automated system. If it was a live person that may very well be different.
@red259 wrote:
@wineman wrote:I worked at SallieMae/Navient until last year. At that time we serviced both private student loans and Dept of Education/Federal loans. We could take credit card payment for any amount on private loans for a $15 fee. We could only accept CC payment on Dept of Ed/Federal loans for the minimum payment amount. It was explained that the rule was because credit cards are dischargable in bankruptcy and student loans are not. They don't want a lot of people paying off the loans then filing BK and avoiding the debt. I'm not sure why the automated phone payment thing isn't consistent.
They don't charge a fee when you call in, but that is using the automated system. If it was a live person that may very well be different.
I don't have the automated option and when I call in there isn't a fee. However mine are DOE loans, so maybe that's why!
Personal:
