8220
Colleges, Universities, Professional Schools, and Junior Colleges
MCC 8220 encompasses institutions such as colleges, universities, professional schools, and junior colleges, facilitating a broad range of educational services and programs.
Interchange Fee
Interchange fees for this MCC typically range from 1.5% to 3.5%, depending on the issuing bank and card type used.
Cashback Rewards
Cashback eligibility for payments in this category varies. Some card programs may offer rewards between 0.5% and 1.5%.
Rules and Restrictions
There are no special rules or restrictions imposed by payment processors for transactions categorized under MCC 8220.
Tax Reporting
Educational expenses under MCC 8220 may be tax-deductible in certain scenarios. Refer to IRS guidelines or consult with a tax professional for accurate filing and deduction information.