Making student loan payments with a credit card?

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Dcorbust

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Making student loan payments with a credit card?

Postby Dcorbust » Mon Jan 02, 2017 12:56 pm

Sorry if this has been addressed before, but does anyone have any thoughts on making federal student loan payments with a credit card (and paying that off each month) for the purpose of redeeming reward points? Assuming you have a stable job/income. Is there any downside to this?

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2014

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Re: Making student loan payments with a credit card?

Postby 2014 » Mon Jan 02, 2017 1:04 pm

The service charge often/usually eclipses the value of the points earned. If your loan servicer lets you make payments on a credit card with no (or <1%) fee, then absolutely go for it.

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LaLiLuLeLo

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Re: Making student loan payments with a credit card?

Postby LaLiLuLeLo » Mon Jan 02, 2017 1:27 pm

Sadly, Great Lakes just stopped accepting credit card payments starting this year.



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