Iowa’s Drake University Discouraging Credit Card Use With High Fees

DES MOINES, Iowa – Want to use a credit card to pay for your tuition at Drake in Des Moines? Get ready to pay more. If  you’re using a credit card, you can expect to pay an additional 2.75%. The University has said that thanks to budget cutbacks, they can no longer absorb the $250,000 cost of students using credit cards to pay tuition fees. They have also said this surcharge will allow only those using credit cards to pay for the additional costs.

While university officials are happy with the new plan, students find it to be completely ridiculous. The surcharge forces many to change how they’re paying. One study has said that 28.7% of payments to universities and colleges across the country are made with a credit card. Drake has 24.3% of students paying with a credit card, which makes the university suggest this change is absolutely necessary.

Source: http://www.cr80news.com/2012/04/24/payments-by-credit-cards-discouraged-at-one-iowa-university

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