Making student loan payments with a credit card? Forum
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Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.
Failure to follow these rules will get you outed, warned, or banned.
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Dcorbust
- Posts: 6
- Joined: Sun Nov 25, 2012 10:46 pm
Making student loan payments with a credit card?
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
- Posts: 6028
- Joined: Sat Jun 05, 2010 3:53 pm
Re: Making student loan payments with a credit card?
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
- Posts: 949
- Joined: Wed Jun 08, 2016 11:54 am
Re: Making student loan payments with a credit card?
Sadly, Great Lakes just stopped accepting credit card payments starting this year.
