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Which student loan companies take credit card payments?

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Established Member

Which student loan companies take credit card payments?

Hi, I am currently considering student loan applications. I want to apply for those that accept cc payments.


Low interest and no-cosinger.....


Thanks for the info Smiley Happy

Message 1 of 8
Established Contributor

Re: Which student loan companies take credit card payments?

You can pay for federal student loans using an intermediary, Plastiq. Due to the benefit such as subsidies and forbearances, federal loans usually have the lowest applied interest rates. I think you missed the priority deadline for the FAFSA, but you should still be able to get funds. I would caution you against private student loans unless you are going into a guaranteed high-income field because they are not forgiving at all and interest rates may be variable.
Good luck.

Message 2 of 8
Established Member

Re: Which student loan companies take credit card payments?

Thanks for your information. I currently have FAFSA student loans but I am looking for additional private student loans, that's why.

Message 3 of 8
Valued Contributor

Re: Which student loan companies take credit card payments?

FAFSA Student Loans is not the correct term. You must fill out a FAFSA to be eligible for financial aide.

Do you mean FEDERAL Student Loans? Subsidized? Unsubsidized? Parent PLUS? Direct? Indirect? Who is the servicer? Are you in school? Out of School?

Did you sign a MPN (Master Promissory Note?)

Family Member made me an AU on: 2008 Sears MC $2,001, 2016 SEARS Store Card $2,001, 2011 Synchrony Home $5,500 , 2003 FNBO Visa $9,900, 2008 Macys Amex $1900, 2008 Kohls $2,000, 2008 JC Penny $4,500, 2016 TJX Mastercard $1,500, 2019 SDFCU PowerCash Visa $10,000, 2018 AAdvantage Aviator MC $5,600, 2018 HSN $4,500, and 2016 Local Credit Union Visa $5,000. Waiting on them to all report over the next month... Only Kohls is reporting so far... WITH AGE. They use AZEO method.

Member of:
Andrews FCU (Share), PENFED CU (Checking/Share), SDFCU (Share), Alliant CU (Checking/Share), NASA FCU (Share), NWFCU (Checking/Share), Ally Bank (Checking/Savings), BofA (Checking/Share), Navigant CU (Share), Greenwood CU (Share), Elements Financial CU (Share), Ocean State CU (Share), SDFCU (Share), Wells Fargo (Checking), RI Credit Union (Share), CashApp, PayPal Premier (for free direct deposit access with cash card), Paypal Business - Grandfathered 1.5% Cash Back on Biz Debit), Apple Pay Cash, and Venmo.

I WANT to join: Hanscom FCU (For the 2 day early direct deposit).

DCU, NFCU, Comenity, Synchrony, Barclays, Discover, Amex, Webbank (Avant), Santander, Citi (Shell), DSNB (Macys), TDRCS (Target+Nordstrom), Capital One (Personal & Business, Kohls, and GM), CreditFirst(Firestone)
Message 4 of 8
Established Contributor

Re: Which student loan companies take credit card payments?

Navy Federal, PenFed etc. have some of the best rates. I don't know what programs they might have if you run into difficulty though. You'll have to check and of course it will depend on your circumstances (credit check, income, etc).
You might also want to check that you've truly maxed out on your federal loans. If you register as independent you'll get the most money I believe, even if it's mostly unsubsidized loans. There's also on-campus jobs that may have really flexible hours like the tutorial center.
Regardless, I would probably go on an Income-driven repayment plan now (if planning on forgiveness you can do a waiver to "pay" while in school) or when you graduate. This should allow you to throw everything at the private loan and get rid of it, since it doesn't have federal loan protections. Just an idea.

Message 5 of 8
Established Member

Re: Which student loan companies take credit card payments?

Thanks for your reply. I have signed the MPN. I also have the Federal loan,subsidized and unsubsidized. I am currently in school. 

Message 6 of 8
Established Contributor

Re: Which student loan companies take credit card payments?

The way that must Income-driven repayment plans work is that you make 240 monthly (20 years, 25 for graduate) on-time payments. Payments on IBR or REPAYE are often $0 when your income is low, such as when you're in school. After the required number of payments, any remaining balance is forgiven. On PSLF, they are forgiven after only 120 payments (10 years).
What must students don't know is that just because you're in school, it doesn't mean that you can't start the countdown.
You request an in-school deferment waiver. This means interest will accrue on your subsidized loans but if you'll have something to forgive then it doesn't matter. Then go on a low/ no payment IDR plan. Then when you graduate, you'll have way less time until forgiveness. You fill in the dates for the deferment waiver so if you change your mind you can resume in-school deferment.

Message 7 of 8
New Visitor

Re: Which student loan companies take credit card payments?

I don’t think there are any student loan service providers left that offer credit card payment, but I have been using an awesome workaround to allow me to still make payments toward my student loans with a credit card.  So far I have racked up almost $600 in cc rewards by doing this, and I still have plenty to go!


I tried many different strategies before reaching this one.  First Platiq, but their fees did not make the exchange worthwhile.  Then American Express preloaded debit cards, but Great Lakes only accepts Visa and Mastercard for debit payments.  Finally I reached this solution and have been using it successfully for months.  This has been working great with my provider (Great Lakes), but I would love to hear some feedback from you guys about how it has worked with your own providers.


The overview:
Use your credit card to purchase online Visa preloaded debit cards in $500 increments and use TopCashBack to get your purchase fees basically refunded.  Then make payments with the Visa debit cards over the phone.


The step-by-step:
1.  Go to TopCashback and log in or sign up (it's a free cash back service).  Search for "" on their website, find the option for Visa, and click the big pink button that says "Get Cashback."  You'll be redirected to the giftcards website.
2.  In the giftcards Visa page, click "Virtual Gift Accounts."  Change the value to $500 (their max).  Enter your own name, email address, etc.  Click "Next Step."  (Don't get scared away by the fact that it says "internet use only."  This just means that you can't use this digital card with in-person stores.  If you read the fine print, you will see that they work over the internet AND over the phone.)
3.  In the Review Your Order page, duplicate that card until you have as many multiples of $505.95 as your credit card can handle (up to a daily max of $1500 in virtual gifts).  Click "Add to Cart."  (Don't worry about the $5.95 fee - TopCashBack will pay you back $5.00 in rewards, which turns it into a $0.95 fee, so as long as the rewards on your credit card are greater than 00.19%, you'll be making money in the end.)
4.  Check out using your credit card information.  Your new $500 cards will be sent to your email.
5.  Using the links in the emails, open up the cards online and associate your name to activate them.
6.  Call your student loan service provider and tell the representative that you are calling to make a payment with a DEBIT card.  It's also polite to warn them that you will be making multiple payments using multiple debit cards during that call.  The Great Lakes reps are always so great about this.  Just this morning I made nine of these payments during one call and the lady was super chill about it.
7.  Pay off the charge on your credit card ASAP.

And there you have it - you just earned credit card rewards on your student loan payment!  For each $500 payment you earn full rewards from your credit card, minus the 95¢ in net fees. This process might seem like a lot at first, but the steps become second nature once you're used to it.


Now, is this strategy a good match for you?  That depends on a couple things.  Let's look:


This should WORK if...
- You use Great Lakes or another provider that accepts debit payments using Visa debit cards (the giftcards site has a mastercard option too).
- Your credit card earns greater than 00.19% rewards on online purchases (most earn at least 1%, so you should be fine).
- You can (and will remember to) pay off the full credit card balance immediately.


This should NOT work if...
- Your student loan service provider that does not accept debit payments via Visa or Mastercard.
- Your credit card that doesn't earn rewards on online purchases.
- You will end up paying credit card interest.


(Mod cut / edit - sorry, referral codes or links are not permitted on the myFICO forums) 


I hope this strategy helps many people earn more rewards while paying off their student loans!  I would love to hear how this strategy is helping you.


Message 8 of 8
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