From: Sandi Barnes (sabarnes@gwu.edu)
Date: Wed Jan 29 2003 - 14:19:46 EST
Hello Everyone!
Are there any Universities, Colleges or Collection Agencies that charge an
additional fee to cover the fee's charged for processing credit cards?
Just curious!
Sandi Aylor Barnes
Coordinator of Collections
George Washington University
2100 M. Street, N.W, Suite 409
Washington, D.C. 20052
202-994-9244
Karen Reddick wrote:
> I have inquired with Department of Education regarding this matter. It is
> common practice for third party collection agencies to accept credit cards
> to pay off student loan debt and most of our College and University clients
> follow the same practice.
>
> Karen Reddick
> National Credit Management
>
> -----Original Message-----
> From: oa.kderouen {Karen DeRouen} [mailto:oa.kderouen@forum.utexas.edu]
> Sent: Wednesday, January 29, 2003 8:46 AM
> To: bursar-l@virginia.edu
> Subject: RE:
>
> Our collection agencies as well as the University accept credit card
> payments for loans at a collection agency.
>
> Karen
> *******************************************
> Karen DeRouen
> Loan Collections Supervisor
> Student Accounts Receivable
> The University of Texas at Austin
> (512) 232-4063
> (512) 471-0212 fax
> *******************************************
>
> -----Original Message-----
> From: Keith Fitzsimmons [<mailto:kfitzsim@kumc.edu>mailto:kfitzsim@kumc.edu]
> Sent: Tuesday, January 28, 2003 4:24 PM
> To: bursar-l@virginia.edu
> Subject: Re:
>
> >>> Linda Winslow <lwinslow@clarku.edu> 01/27/03 11:08 AM writes in
> part>>>
> It was my understanding that it was a Federal Law that Collection
> Companies could not allow a borrower to pay off their student loans using a
> credit card... this is illegal?
>
> Linda:
> Below is a response from one of our third party collection agencies, Credit
> World Services of Mission, Kansas. Hope is it helpful. Keith Fitzsimmons
> Univ of Kansas Medical Center
>
> <schappel@creditworldservices.com> 01/28/03 12:48 PM >>>
> Keith,
> I haven't ever heard of this rule before. Could someone let us know where
> it came from? We, like all other agencies that I know of, accept credit
> card payments. If you have a source, please send it to me and I'll check
> it out for you. Shirley
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