Frequent Flyer Miles and Paying Tuition???

Discussion in 'Medical Students - MD' started by medname, Jun 10, 2002.

  1. medname

    medname Member
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    Hey-

    I am wondering if it is possible to pay tuition bills with a credit card?? One could then deposit all of the student loans in a checking account and then write out a big check for each month that the tuition bill comes. Not a bad way to get frequent flyer miles.
     
  2. Lisa Simpson

    Lisa Simpson New Member

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    Student loans are generally paid directly to the school, which deducts the amount for tuition and fees and gives you the remainder in a check.
    Great idea though...
     
  3. Dodge This

    Dodge This Senior Member
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    People CAN and DO at my school. The Financial Aid office even recommends it if we have the credit limit for it. We can pay off tuition by credit card before loans come in. When the loan comes, there's no balance on the account, and it all gets disbursed as a check. I personally can't get the credit limit to do it, but a few of my friends use their parents' cards and get cashback rewards, frequent flyer miles, etc. Another little tip: open some kind of savings account linked to your checking account to deposit the remainder of your dispersment so that it can earn interest. A few dollars a month doesn't hurt.
     
  4. doughboy

    doughboy Senior Member
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    Some schools will let you pay by credit card but then they tack on an extra charge for that. I think its like 2.5% of the amount being charged. So it depends on whether or not those extra miles are worth the extra amount of money paid. Credit card companies usually take a percentage fee from the "company" accepting them so I don't understand why schools would accept them without any conditions.
     
  5. The Fly

    The Fly Senior Member
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    Penn doesn't take credit cards. :(

    Some schools DO allow for such payments without a percentage being added on -- Temple, when my brother went to Law School there, allowed CC payments with no extra fees. It's a lot of miles if you can pay with a credit card.
     
  6. UF and IU undergrad allow it with no fees, too, so i'm betting the med schools will also allow it, since i think everything goes through the same financial aid office.
     
  7. FU....CMS

    FU....CMS Senior Member
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    Dodge This: nice avatar. you must work out...
    hey, what school do you go to, that allows you to use credit cards to pay for tuition? i called my school, Finch/CMS, and they said they do NOT accept credit cards.

    but since i just got my FreqFlyer cc, i want to pay for my tuition with it. and i want to get official information from other schools, and maybe start a petition to change that policy at my school. thanks.

    doughboy: where do you go to school?

    thanks.
     
  8. FU....CMS

    FU....CMS Senior Member
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    well, my school sucks. they say, no go on cc payments.

    and the Fly is right. Temple U DOES accept cc's, at NO extra cost.

    i'm bout to rock the boat and get some policies changed at CMS. i wonder if other univ's will tell me how they get around the "retailer/vendor" credit card service charge? or if they'll be like, "annnd you arree? andddd this is regardddinggg??"
     
  9. lake show

    lake show Senior Member
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    my question is, who the hell here has a $15000 credit limit or greater (for the private school peps)?
     
  10. FU....CMS

    FU....CMS Senior Member
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    i do. but even if you only had a few thousand dollars as your limit....each $1 you spent is 1mile. and since you HAVE to pay tuition...might as well earn some miles with it since you can pay off your bills right away with student loans...
     
  11. Olanzapine

    Olanzapine Membership Revoked
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    My school prohibits the using your credit card to pay off any amount that is already covered by your loans (ie you can't get your loan money and cash it and pay off your tuition with your credit card). You can however pay off any amount of tuition that is not covered by your loans. A better idea then getting frequent flyer miles is using credit cards with a cash rebate. I used my parents choice visa card one year that I was didn't max out my borrowing and they got a rebate of 2%. Discover card gives you 1%.
     
  12. FU....CMS

    FU....CMS Senior Member
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    most schools don't allow cc's b/c of that service charge that retailers/vendors have to pay.

    and of course you can't just get all your loan check and cash it, b/c the FA gets it first, and they take out ALL the money until your balance is settled, and then you get the remainder of it disbursed as cash. but if you preempt it, by paying for your tuition FIRST, then your balance is $0, and ALL of it is disbursed to you. then you can take it to pay off yrou cc bill.

    freq flyer, cash-back...it's all gravy, long as you're gettin something back from outrageous tuition fees.
     
  13. Hero

    Hero Senior Member
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    I paid $6,000 for a part of my brother's tuition with may nextcard/amazon card. It's earned me $120 in amazon gift certificates. Great way of buying medical books IMO :D
     
  14. reesie0726

    reesie0726 Senior Member
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    At pitt, they will let you charge your tuition. So if you charge it and then pay the bill with your loan check you can get alot of frequent flyer miles.
     

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