Managing Finances

Credit Card Payment Option For Student Loans

Given the challenging times, parents are increasingly looking at all available options to pay for their child’s education. A new alternative is ChargeSmart, a web-based payment service that allows the use of a Mastercard or Discover credit card for student loan payments. ChargeSmart enables payments to 32 student loan providers that do not directly offer credit card payment as an option for their customers.

ChargeSmart, based in San Francisco, has reported that parents are paying student loans with a credit card not only to accumulate credit card rewards, but also for the added convenience of a powerful cash management tool.

To make a student loan payment with a credit card, customers submit payments directly to ChargeSmart and indicate the amount they wish to pay and the recipient. Then, the system securely accepts, processes and remits payments electronically, ensuring every step from the customer to the payee is accounted for and traceable.

ChargeSmart also powers credit card payments to auto loan, mortgage, and utility companies. For more information, refer to uparent.ChargeSmart.com.

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