Monday, November 01, 2010
Marshall University Begins 2.5% Fee On Credit Cards
WEST VIRGINIA...
Marshall University will tack on a 2.5 percent fee to every payment a student makes with a credit card.
When a college student or a student's parent uses their credit card to pay for tuition or services, the university has to, in turn, pay credit card companies a fee. Since 2006, Marshall University has paid at least $285,000 in fees each year to credit card companies. Last year that number hit an all-time high of $380,000 and this year's cost was expected to be even more.
But instead, Marshall predicts the amount owed will drop by $325,000 thanks to the 2.5 percent fee the school began charging yesterday.
Marshall University has notified students and parents through letters and e-mails.
Marshall University will tack on a 2.5 percent fee to every payment a student makes with a credit card.
When a college student or a student's parent uses their credit card to pay for tuition or services, the university has to, in turn, pay credit card companies a fee. Since 2006, Marshall University has paid at least $285,000 in fees each year to credit card companies. Last year that number hit an all-time high of $380,000 and this year's cost was expected to be even more.
But instead, Marshall predicts the amount owed will drop by $325,000 thanks to the 2.5 percent fee the school began charging yesterday.
Marshall University has notified students and parents through letters and e-mails.
# posted by Homer Owens @ 11:19 AM 
