Study: Paying Tuition With Credit Cards Is Costly

August 25, 2016 7:17 AM

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Many colleges allow students or families to pay tuition bills with credit cards, but the fees associated with those payments may be costly enough that any rewards from the credit card company are wiped out.

That is the bottom line of a new survey from, a division of the finance research site Bankrate. The survey of the 300 largest public and private colleges found that 85 percent accept payments with credit cards, but the average "convenience fee" is 2.62 percent, generally more than th...

Also read: Prepaid Cards Play Bigger Role for ‘Unbanked’ Households, Survey Finds

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