Yet another University has refused to take credit card payments for tuition because the cost is too high, and they can redirect those costs towards education:
By my count, there are least 15 Canadian Universities that have done this (TWU included). This is worth many millions of dollars. When are the credit card companies going to notice and respond? This is already lost revenue for them. I think they could get some good buzz by responding and making a deal to cut the costs or make donations towards academics if these universities reversed their business decisions. Clearly, students aren’t making attendance choices based on these university decisions, so the money is getting spent regardless. The only change is the credit card companies are out their percentage.
On the positive side, students have been able to find ways to pay that have lower interest rates, albeit without the same convenience or rewards (e.g., Airmiles or some other points plan). That’s the good story.