Consumer Payment Card News

Tuition Card Fees

The days of racking up free air miles and other points for using a credit card to charge college tuition may be limited. Colorado State University is now requiring students to pay a 2.9% convenience fee for using credit cards to pay tuition. The university indicated in April it was planning to cease accepting credit cards due to high merchant fees. The Collegian newspaper this month reported the university was paying approximately $600,000 annually. A bill that was passed in the Colorado Congress in May now permits agencies to add a convenience fee on the customer for credit card payments and bank fees. CSU has since partnered with Informed Decisions Corp. to use its “CASHNet SmartPay” system. Other “SmartPay” clients include San Francisco State University, Syracuse University, and Lee College in Texas.

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