It’s no secret that textbooks are expensive — but just how much will you spend? The average cost of college textbooks and supplies at four-year schools was $1,212 for the 2022-23 school year, according to the National Center for Education Statistics. That cost jumped to $1,467 for students at two-year institutions.

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 may make sense.

Can you pay for textbooks with student loans?

Before we discuss other payment options, it’s worth noting that you can use your federal student loans to pay for textbooks. Books are considered a qualifying expense at schools participating in the federal student aid program.

There’s an important caveat, though: Your federal student loan might not be enough to cover additional costs outside of tuition and fees. But if it is, this is probably your first and best option to pay for books and other school supplies. Participating schools must let you buy your textbooks and supplies using any leftover federal aid by the seventh day of your term.

4 other ways to pay for college textbooks

1. Grants and scholarships

If you’ve got time before school starts, research grants and scholarships to help cover the cost of your books. This is an excellent option because you generally aren’t required to pay that money back.

Ask your school’s financial aid office about textbook-focused aid, or search on sites like FastWeb or Bold.org for potential opportunities. You can also research organizations offering awards specifically for textbooks, such as the Council on Social Work Education and the Wilhelmina Foundation.

2. 529 plan or other savings

If you’re the beneficiary of a 529 college savings plan or have other savings set aside for school, consider using that money to pay for books. Doing so could be better than taking on additional debt or using a credit card, as there’s no risk of accruing interest. Just be sure you have sufficient savings to cover book costs without stretching yourself too far financially.

3. Private student loans

Private student loans may help fill the gap if federal student aid isn’t enough to pay for your necessities. Many private lenders let you borrow up to the full cost of attendance, which usually includes books, supplies, and other education costs.

These loans have flexible terms and relatively low rates, though typically not lower than federal student loans. Borrowers who apply with a cosigner often get the most attractive rates.

If you have existing private student loans, consider using some of that money to pay for textbooks. If you don’t, it’s worth exploring other payment options before taking on new debt; this is especially true if you don’t have someone to cosign your loan.

4. Credit cards

In general, paying for your books with a credit card should be a last resort when you’ve exhausted other options. Credit cards typically have very high interest rates, so you could end up paying expensive interest charges if you can’t repay your full balance right away.

That said, paying by card could be a stop-gap if you’re awaiting an upcoming federal aid payout. Alternatively, some credit cards also offer 0% introductory APRs for a year or more. With these cards, you won’t pay interest on your balance as long as it’s fully repaid by the end of the introductory period. However, most of these cards require good or excellent credit to get approved.

Learn more: Best student credit cards

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 consider using your student loans, college savings, or cash first. But here’s when paying by credit card could make sense versus when it probably doesn’t.

When to use a credit card to buy textbooks

• You can afford to repay your full balance at the end of your statement cycle

• Your federal aid hasn’t been disbursed yet, and you need to temporarily cover the cost

• You have an existing 0% introductory APR credit card or can qualify for one, and have a plan to repay your balance before the introductory period expires

When to avoid paying for textbooks by credit card

• You can pay for your books using federal aid or savings

• You can’t afford to pay your credit card in full and will accrue interest on the purchase

Whenever possible, avoid charging things you can’t afford to a credit card. It’s easy to quickly accrue debt and high interest fees. Instead, turn to federal financial aid, 529 savings, or cash first. Even private student loans will have lower interest rates than a credit card in most cases.

If you have no other options and must charge textbooks to your credit card, do what you can to lower costs. Consider borrowing or renting your books, searching for free digital versions online, buying used copies, or even sharing an expensive book with a friend. Then, make it a priority to pay off any credit card balance you have quickly to minimize interest costs.

Learn more: 5 smart ways to save money on back-to-school supplies

This article was edited by Alicia Hahn

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