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11 Comments

  • Reply Tracy |

    I still think the school is being ridiculous. What kind of school is this?

    At least you have a way of dealing with the problem, and it won’t cause you to owe more interest. My partner’s transmission failed 6 months ago. I tried to talk him into waiting until we had the money saved up, and he agreed, but unfortunately not before the shop had started work. I got a 6 months same as cash loan from the shop. We paid it off this month. No interest. Do I feel good about it? No, probably no more than you feel about having to put the tuition on the card, BUT, at least it was short-term and interest-free.

    Don’t let anyone make you feel guilty about this. You do what you have to do to improve your eventual earning ability as a family, and further education is well worth the money spent.

  • Reply MyMoneyMess |

    Well, handle the payment with the credit card and pay it off with the fin aid. Then put the credit card away. Keep the account open in case similar situations crop up again.

  • Reply Budget Confidential |

    I think you solved this problem to the best of your abilities. It won’t cost you anything and you have a plan for paying off the debt. That’s great.

    Why not take this new card and freeze it in a cup of water in your freezer. Then, if you need it for an emergency you can still get it but it will not be readily available to tempt you.

  • Reply Dylan |

    I agree with B.C. that you solved the problem as best you could, under the circumstances. I would’ve done the same.

    Also? Wow is the school being completely unreasonable. Sheesh.

  • Reply emmi |

    You gotta do what ya gotta do. Back to rebuilding the emergency fund rather than making extra payments on the tuition loans looks like.

    >Apparently we’re both a little desperate.

    In relationship slang there is a term for when two angry parties jump back in bed together. But this is a G rated blog… 😉

  • Reply tiffany |

    I know dave ramsey no-no’s even 0% credit, i think if you know you’ll pay it within the time constraints and it is something that cannot wait, you gotta do it. While I get my finances in order we rolled over my hubbies very high percentage cc to a 0% so we can pay it off without interest breaking the bank.

    Glad you all got the mess cleared up ?

  • Reply Andy |

    “Apparently we’re both a little desperate.” This is one of the funniest things I have read in a awhile. LOL!

  • Reply RB |

    Things have sure changed since I was in college. Or perhaps I simply went to a school where the finance staff had a brain (or a heart).

    The very first day of each semester was spent in the Gym going from station to station filling out paperwork, meal plan, validation of your student ID, etc. Once I got to the finance desk they already had my financial aid check, I just had to sign it over. The remainder of the bill was due right there, but they would negotiate a monthly payment plan as long as the balance was below a certain percent of total tuition. I was a traditional student living on campus, so my campus job made the payments and left me a little left over to have a little fun.

    I went to a school that was 17K per year (20 years ago, and thankfully 3/4 of that was covered by scholarship) so perhaps they knew they had to be reasonable with their payment expectations when the cost was so high.

  • Reply Paul |

    I dread to think what paying any amount for college with a credit card must feel like, but at least you have a plan for getting rid of it. Student debt is burden that no one should have to face without a plan and considerable resources.

So, what do you think ?