This is effective July 1, 2020. Any thoughts? I took advantage of this with my credit card giving me a 2% cash rebate when I paid for S’s tuition. It is too bad I cannot prepay tuition prior to 7-1-2020.
In 2014, both my kids’ schools encouraged paying by cc and I took advantage. One school made a big deal of it at orientation, but that school changed without notice and I was lucky to have enough money in my checking account to do an ACH transfer. After that, better planning on my part. The other was a private school and allowed us to pay by cc without a fee for all 4 years - except that my daughter was on scholarship and after the first year I didn’t have to pay anything and she got a ‘refund’ of her loan.
I wonder if it’s because the CC make it easy to dispute, which they may have experienced with covid. They have put up with the fees up to now, but it could be that.
It is because the CC companies have raised their fees. It therefore costs USC extra money to let tuition and fees be paid via CC. It’s an easy fix though for those that were paying that way, as you can simply enter checking account info and have it come directly out of a bank account.
Ya, those 3%+ credit card processing fees on top of the bank’s processing fees can be brutal on any business.