Second, remarks:
1, first of all, you need to confirm whether the school has a POS machine. If the school's POS machine is a transfer POS machine, you can't swipe your credit card, but if it is a consumer POS machine, you can.
2. Secondly, if I need credit card installment, I need to confirm the merchant type of POS machine. If it is a public utility, it cannot be staged. Generally, POS machines that can swipe credit cards belong to general merchants and can be staged.
Paying by credit card involves many risks, so what are the risks? Here are three points to pay attention to before paying tuition by credit card.
1. Is there a handling fee for paying tuition by credit card?
According to the survey in Creditcards.com, the average cost of paying tuition by credit card is 2.62%. Although this figure seems small, there is a handling fee of 263 for spending $65,438+00,000, which immediately offsets 65,438+0% cash return or travel reward.
Not every school charges student fees. However, among the schools surveyed, only 23 four-year universities accept credit cards to pay tuition fees without charging any fees. Community colleges tend not to charge extra fees.
2. Can I pay in monthly installments?
When you need to pay tuition due to financial difficulties, you will think of paying by credit card instead of student loan.
According to the regulations on student loans, the interest of 20 14-20 15 federal student loans is 4.66%-7.25438+0%.
According to bankrate. com, the average interest of credit cards is between 13%- 16%, which is the conclusion of bankrate. com's statistics on financial products.
If you ignore the monthly loan, the extra interest will soon increase. The biggest risk of paying tuition by credit card is not interest, but the income generated by each transaction will be offset.
In order to avoid excessive interest, students applying for student loans can use other payment schemes, such as income repayment, preferential loan policies, interest reduction and exemption of student loans, etc., if they meet the conditions. Credit card tuition fees do not enjoy these welfare policies.
3. Can I handle it?
If parents have enough cash to pay their credit card bills immediately, some credit card companies will provide them with preferential policies to send their children to school without paying handling fees. It makes sense to pay tuition by credit card. But there are still risks in this method. What kind of strategies students should avoid, and it is reasonable to choose student loans. Because students know little about credit cards, and they are likely to make mistakes or miss the repayment date.