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Charging college tuition on credit cards comes with high fees

Convenience fees hit students paying tuition with credit cards

Many of these cards are devaluing their rewards programs by requiring cardholders to spend more to get the same "free award" they could have gotten with fewer points previously. Many also come with annual fees. Consider a card with a "cash-back"
Many of these cards are devaluing their rewards programs by requiring cardholders to spend more to get the same "free award" they could have gotten with fewer points previously. Many also come with annual fees. Consider a card with a "cash-back"

The majority of public universities and private institutions have been charging students paying tuition with credit cards convenience fees, according to a recent survey

About 90 percent of public universities charge  convenience fees. With a 3 percent fee, Roger Williams University in Rhode Island charges the highest convenience fee in the nation, according to a survey of 300 of the largest U.S. colleges. 

CreditCards.com senior industry analyst, Matt Schulz recommends that students abstain from paying tuition with credit cards. 

"Especially if you have outstanding student loan debt, it’s unnecessary to dig yourself more deeply into debt just to pay with plastic," Schulz said. 

The survey found community colleges are the most "fee-friendly" since only about 8 percent of the colleges in the nation charge fees. 

Students who pay their tuition bills with a credit card incur an average of 2.62 percent in fees. That can amount to $262 for every $10,000 of tuition. 


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