Categories
Antiwork

Student loans and processing fees

If you find yourself at the short end of the court ruling and have to start paying on loans, know that the loan processors have to pay a payment processor to clear ACH and credit card payments. Quick search has about 21 to 40 cents per ACH and maybe $1.50 for credit card processing. If you have time, and funds, and are inclined for some (let's be honest, petty) protest you can log into your processor website and make as small a payment as possible. It will cut into their margins just a little bit. I also wouldn't put it past these leaches to have the processing vertically integrated. So, they might be paying funny money to a payment processor they already own. But, it make me feel good to give them their inescapable debt in the most annoying way possible.


If you find yourself at the short end of the court ruling and have to start paying on loans, know that the loan processors have to pay a payment processor to clear ACH and credit card payments.
Quick search has about 21 to 40 cents per ACH and maybe $1.50 for credit card processing.
If you have time, and funds, and are inclined for some (let's be honest, petty) protest you can log into your processor website and make as small a payment as possible. It will cut into their margins just a little bit.
I also wouldn't put it past these leaches to have the processing vertically integrated. So, they might be paying funny money to a payment processor they already own. But, it make me feel good to give them their inescapable debt in the most annoying way possible.

Leave a Reply

Your email address will not be published. Required fields are marked *