Should you pay for college textbooks with a credit card?

It’s no secret that textbooks are expensive — but how much will you spend? The average cost of college textbooks and materials at four-year schools was $1,212 in the 2022-23 school year, according to the . For students at two-year institutions, that cost rose to $1,467.

Fortunately, there are several ways to pay for your course materials. Credit cards are one option, but is using a credit card to pay for textbooks the best choice? Here’s when paying with a card might make sense.

Can textbooks be paid for with student loans?

Before we discuss other payment options, you should know that you can also use yours to pay for textbooks. Books are considered an eligible expense at schools that participate in the federal student aid program.

There is one important caveat, however: Your federal student loan may not be enough to cover additional costs other than tuition and fees. But if it is, this is likely your first and best option for paying for books and other school supplies. Participating schools must allow you to purchase your textbooks and materials with remaining federal aid by the seventh day of your semester.

4 more ways to pay for college textbooks

1. Grants and scholarships

If you have time before you start college, you can look into scholarships and grants that will help you cover the cost of your books. This is an excellent option because you usually don’t have to pay the money back.

Check with your school’s financial aid office for textbook-specific help, or search for possible opportunities on websites such as or . You can also research organizations that offer grants specifically for textbooks, such as the and .

2. 529 plan or other savings

If you are the beneficiary of one or more savings for school, consider using that money to pay for books. This could be better than taking on additional debt or using a credit card, as there is no interest risk. Just make sure you have enough savings to cover the cost of books without overextending yourself financially.

3. Private student loans

can help fill the gap when federal student aid isn’t enough to cover your living expenses. Many private lenders will provide loans up to the total cost of tuition, which typically includes books, materials, and other educational expenses.

These loans have flexible terms and relatively low interest rates, but usually not lower than those of federal student loans. Borrowers often receive the most attractive interest rates.

If you already have private student loans, consider using some of the money for textbooks. If not, consider exploring other payment options before taking on new debt. This is especially true if you don’t have anyone to co-sign your loan.

4. Credit cards

Generally speaking, paying for your books with a credit card should only be a last resort when you’ve exhausted all other options. Credit cards tend to have very high interest rates, so you may end up paying a lot of interest if you can’t pay off your entire balance right away.

That said, paying by card could be a stopgap measure if you’re waiting for an upcoming government relief payment. Alternatively, some credit cards offer terms of a year or more. With these cards, you won’t pay interest on your balance as long as it’s paid off in full by the end of the introductory period. However, most of these cards require good or excellent credit to be approved.

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Should you buy textbooks with a credit card?

There’s no one right answer when it comes to using a credit card to pay for college textbooks. Instead, it depends on your situation. Ideally, you should start by using your student loans, college savings, or cash. But here’s when paying with a credit card might make sense and when it might not.

When to use a credit card to purchase textbooks

• You can afford to pay off your entire balance at the end of your billing period

• Your federal aid has not yet been paid out and you need to temporarily cover the costs

• You have or can qualify for a 0% APR credit card and have a plan to pay off your balance before the introductory period ends.

When you should avoid paying for textbooks with a credit card

If possible, avoid using a credit card to pay for things you can’t afford. It’s easy to quickly rack up debt and high interest rates. Instead, rely on government financial aid, 529 savings plans, or cash to start with. Even private student loans have lower interest rates than a credit card in most cases.

If you have no other choice and must pay for textbooks with your credit card, do what you can to reduce the cost. Consider borrowing or renting your books, looking online for free digital versions, buying used copies, or even sharing an expensive book with a friend. Then make it a priority that you have something fast.

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This article was edited by Alicia Hahn

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