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Tuition With A Credit Card

July 25th, 2015 at 03:06 pm

I found out that we can pay tuition with a credit card, BUT there is a 2.75% convenience fee charged to the payment. I think I'll avoid this and just use our checking account when it comes time to make payments.

I need my daughter to grant me access to pay her tuition as a first step, otherwise it will all be on her. I'm guessing she will have no problem with granting the access. Smile

I'm not sure exactly what the amounts billed will be yet or when the are due. I should have enough cash on hand at any time to make payments. I will likely reimburse us from her college savings after I know the amounts and they have been paid.

8 Responses to “Tuition With A Credit Card”

  1. snafu Says:

    Why not have DD write the cheque for college tuition from her college savings account so that she feels the experience of writing out a big payment and seeing his account balance drop dramatically. It has potential to be a life lesson.

  2. creditcardfree Says:

    Not a bad idea snafu! I'd need to figure out how to get her access to that(not currently in a checking account), but at a minimum I could transfer it into her checking account.

  3. MonkeyMama Says:

    It's a bummer that they penalize you with the credit card payments. But sounds like a good plan.

  4. scottish girl Says:

    I like Snafu's idea Smile

  5. VS_ozgirl Says:

    I like Snafu's idea too, because let's face it, a college education is up there with one of life's more expensive purchases! I'm sure also by doing this DD's appreciation for what you're providing will increase and be an incentive for her to do the best she can.

  6. FrugalTexan75 Says:

    I like Snafu's idea too. Smile

  7. Jenn Says:

    My son's college also charges a convenience fee to use a CC, so we don't do it either. Make sure you consider tax implications when determining which account to pull from if you plan to take the American Opportunity credit on your taxes.

  8. rommelverain Says:

    it's much better to use her credit card for emergency. have her pay her tuition in cash so there's no 2.75% charge.

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