Do any top 30-40 school / top SLACs accept credit card payments for tuition?

[Anonymous]

I have kids that attend top 25 schools (including 2 at HYPSM) and credit cards are not accepted as a method to pay tuition. Is this typical? What colleges DO accept credit card payments for tuition ?

[Anonymous]

Many (most?) don't allow it. Those that do usually charge 2-3% to use the CC, possibly more.

[Anonymous]

I have a kid at WM and a kid at a SLAC. Both accept credit card payments. I’m assuming most parents take out PLUS loans before they finance an education at 25%. But I thought— hey! Great way to earn frequent flyer miles. Put it on the credit card and pay it off at the end of the month. Nope. I think WM had a 3% “service charge” and the SLAC was even higher.

Oh well, would have been nice to get a ticket somewhere sunny to go with the college tuition payment. But not at 3%+.

[Anonymous]

I was thinking the same way. Would be a great way to earn some credit card points / rewards but I guess it sounds like even the schools that accept CC will pass along the fee to parents.

[Anonymous]

I have a college senior. For the first three years, the school used an outside tuition payment plan company (Tuition Options), which allowed us to pay with a credit card with no added fees. This year, they moved to self-administering the payment plan, and they now charge a fee for using a credit card.

[Anonymous]

Ours uses Nelnet which charges 3 or 3.25%. Since I only get 2% back it's not worth it.

[Anonymous]

My kid’s does but charges a fee.

They do have a payment plan for $45 a semester and we use that to spread the payments out. We earn more interest by keeping the money in the 529 and withdrawing it monthly.

[Anonymous]

Anonymous wrote:My kid’s does but charges a fee.

They do have a payment plan for $45 a semester and we use that to spread the payments out. We earn more interest by keeping the money in the 529 and withdrawing it monthly.

Same at my kid’s college. This is what we do.

[Anonymous]

Payments 101: Every company – gas station, hotels, grocery stores, restaurants, etc.- have to pay a 3-5% charge to the credit card company for the privilege to accept a credit card as payment - this is why your credit cards can give you 1 to 2% back in rewards.

There was a time when a company like Costco would only accept A specific card because they had garnered a deal where they could pay a lower exchange rate.

Walmart today does not accept Apple Pay, because they would end up paying Apple/Goldman Sachs a significant percentage which would eat into their profits.

Even today some small budinesses like gas stations and salons do not take CC for less than five dollars.

Also, recently, I have seen popular chain restaurants charge a credit card fee. I think that’s new though.