Rami
05-15-2008, 04:40 PM
Asalaam Aleikum Warahmatullah Wabarakatu,
I have a suggestion:
Almaghrib can raise scholarships by giving an incentive to have the attendees to pay by check and have the 3% credit card vendor charge go to scholarships. Even though it is probably easier for attendees to pay by credit card -- and also get a 1% return in cash or frequent flyer miles -- I think a lot of people wouldn't mind paying by check if the money goes to scholarships
The calculation I made comes out to around $9,600 that can potentially be generated.
$2,297 <---- Tuition
x 3% <---- Rate charged by credit card to Almaghrib
------
$68.91
x 140 <---- # of Attendees
-------
$9,647.40 <---- Total potential for scholarships
Insha Allah, this is a win-win situation. Three percent fees are not lost to the credit card companies and the attendees get to participate in scholarships through their tuition.
I have a suggestion:
Almaghrib can raise scholarships by giving an incentive to have the attendees to pay by check and have the 3% credit card vendor charge go to scholarships. Even though it is probably easier for attendees to pay by credit card -- and also get a 1% return in cash or frequent flyer miles -- I think a lot of people wouldn't mind paying by check if the money goes to scholarships
The calculation I made comes out to around $9,600 that can potentially be generated.
$2,297 <---- Tuition
x 3% <---- Rate charged by credit card to Almaghrib
------
$68.91
x 140 <---- # of Attendees
-------
$9,647.40 <---- Total potential for scholarships
Insha Allah, this is a win-win situation. Three percent fees are not lost to the credit card companies and the attendees get to participate in scholarships through their tuition.