Skip Navigation
School Search Form
After Navigation
Home Ask Student Aid FAQ Is Paying Tuition with a Credit Card OK

Is Paying Tuition with a Credit Card OK

There are important considerations to think about before attempting to pay tuition with a credit card.  We outline 4 quick points to think about before you do this.   

  1. If your school participates in the federal student aid program , you can qualify for loans at a much lower interest rate than the APRs associated with credit cards.
  2. Most schools charge a fee to use a credit card, which adds to the cost of tuition you’ll pay.
  3. Unless you’re sure you can pay the balance in full when the bill comes, you’re better off leveraging student loans which have no prepayment penalty.
  4. If you’re in a strong cash position and you want use your credit card to qualify for bonus points, or airline miles, or an introductory 0% credit card offer (and again, you plan to pay the card in full anyway), then it may make sense.

Just make sure the rewards outweigh the risk.