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May I Spend a Credit Card to my Federal Student Loan?

May I Spend a Credit Card to my Federal Student Loan?

Laws say no, therefore an intermediary solution is the sole option

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Lenders servicing student that is federal cannot accept bank card re re payments because of U.S. Department associated with the Treasury regulations. Nevertheless, you can easily still make payments on the account with a charge card in the event that you are late on your payments if you use an intermediary or.

Probably the larger concern to ask is when you should do this, in the place of asking if you’re able to. While making re re payments with a charge card holds some advantages along with it, considerable dangers include those deals also.


Organizations like Plastiq will accept bank card re re payments so that you can compose checks to creditors in your stead. Plastiq makes cash by recharging a 2.5 % charge per deal, at the time of 2018. This solution or other people want it may be useful if composing your check that is own is a choice for reasons uknown.

For instance, may very well not have a bank checking account or perhaps you might not have enough money in your bank account to pay for a check. In this way, you nevertheless may use credit to pay for a creditor that doesn’t accept charge cards.

The worth of one’s bank card’s benefits system has to surpass 2.5 per cent regarding the quantity of your repayments for here to be good results if an intermediary is being used by you that is asking a deal charge that high. At the time of 2018, it is not likely you will find a card with this type of good benefits system.

Most cards make someplace in the area of just one % to 1.5 per cent money back—or the same in points—on many acquisitions. […]