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Don’t use your credit card to pay college tuition

Moderator

Don’t use your credit card to pay college tuition

"Colleges are making it even easier for students to load up on debt.

 

Parents and students are able to use their credit cards to pay tuition at many of the largest colleges and universities, according to a recent survey from CreditCards.com. "

 

http://www.cnbc.com/2016/08/24/dont-use-your-credit-card-to-pay-college-tuition.html

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 1 of 4
3 REPLIES
Super Contributor

Re: Don’t use your credit card to pay college tuition

Great article! Thought about responding by saying you have to pay the college professors $120K a year so don't hamper student payments (rant) until I actually read the article. Yeah ... passing the processing fee to the credit card user could add real dollars to the budget.
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Message 2 of 4
Community Leader
Valued Contributor

Re: Don’t use your credit card to pay college tuition


gdale6 wrote:

"Colleges are making it even easier for students to load up on debt.

 

Parents and students are able to use their credit cards to pay tuition at many of the largest colleges and universities, according to a recent survey from CreditCards.com. "

 

http://www.cnbc.com/2016/08/24/dont-use-your-credit-card-to-pay-college-tuition.html


Great article, but too late.

 

I paid my tuition for my last semester for grad school on my Amex Platinum so that I could get my 40K MR points.  The fee was $75, but I turned around and got $250 in statement credit, so I came out $175 in my favor, but otherwise I wouldn't have done it. 


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Message 3 of 4
Moderator

Re: Don’t use your credit card to pay college tuition

If I could pay my tuition with a credit card I absolutely would as I can beat the processing fee on most universities that I've seen on it.

 

Then again I'm not going to let it hang out on said rewards credit card, but why not take the arbitrage play?  No different than any other rewards chasing frankly.

 

I would agree for the average consumer that doesn't know better, charging it likely no bueno, but for those who understand how various financial products work why not leverage it?




        
Message 4 of 4