Paying for college with plastic costs more than you think

<p>I would never recommend paying with a credit card if there is a fee. The two schools I pay do not have a fee, so I do use a credit card to get the mileage points and for the convenience. Someone suggested that the schools should give a cash discount, as much as 10%, and I pointed out that many schools have an agreement with a bank so that the schools aren’t charged a 3-4% merchant charge, and therefore the cash discount would be more appropriately 1%. Many schools, like many merchants, would rather have the payment by credit card because they get paid very quickly and don’t have to deal with the cash.</p>

<p>It’s insane to think that thousands of kids and parents are paying in cash as in post #18. I’m sure most pay with a check, but to think the school would prefer people to walk into the accounting office with $15000 in cash is insane. They would have to work with a bank to accept the $15000 x however many students paid that day. Someone would have to count it, give a receipt, somehow get it safely to a bank. Paperwork for deposits of over $10,000 in cash. Nuts. Most schools and businesses would think a 1% fee is worth it to have it all paperwork handled for them.</p>