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Paying tuition with cash-back credit card?

Portmanteau55Portmanteau55 Posts: 19Registered User New Member
edited August 2009 in Prep School Parents
We're thinking it'd be great if we could pay our tuition with a cash-back credit card -- maybe get 1% (or more?) back -- but I'm wondering if a big charge like that is somehow disqualified from a rebate (for example, we couldn't put our car purchase on our rebate credit card.) Does anyone here have any experience doing this? Any cards that might be better than others?
Post edited by Portmanteau55 on

Replies to: Paying tuition with cash-back credit card?

  • DebateMomDebateMom Posts: 83Registered User Junior Member
    I'm not sure about your question but I do know that some schools are charging a fee if you pay your bill with a credit card. My son's college does the same thing.
  • rodneyrodney Posts: 9,406Registered User Senior Member
    Most schools do charge a fee when paying with a credit card; you need to assess what the break-even is: Is the charge higher or lower than the cash back? My guess would be "yes" since the charge is usually a % of the bill (not a flat fee).....
  • Portmanteau55Portmanteau55 Posts: 19Registered User New Member
    I just looked into this further -- the service is provided through Sallie Mae, and they assess a "convenience charge" for credit card payments that is between 2% and 3.5% of the total payment -- so I guess that would negate any cash back rebates (which tend to be 1%).

    Does anyone have any other tips and tricks for extracting the most value out of tuition payments?
  • toadstooltoadstool Posts: 1,145Registered User Senior Member
    Nmh does allow full payment via credit card. Two years tuition has equaled two frequent flier college visits.
  • veasy0veasy0 Posts: 1Registered User New Member
    I am a journalist. Are there any students on this thread that are finding themselves relying more heavily on credit cards to pay tuition? If so, please respond with your email address, I would like to interview for my job. Thanks!
  • baseballmombaseballmom Posts: 1,429Registered User Senior Member
    These students are in high school. This is a thread for parents. Try the college thread...or not...I don't think you should be asking for anyone's email address! Just ask your questions and see what you get for answers.
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