The Best Ways to Pay Your Overseas Tuition Fees
With relatively high tuition fees compared to the rest of the world, it’s no wonder that the UK isn’t always the first choice for British students wanting to gain valuable experience to help them build their career. In fact, research shows that it costs just £100 more per year to study in Canada than it does in England - and that includes return flights. However, around 27 percent of those thinking of studying abroad are concerned about the financial implications, especially overseas tuition fees, so what are the best ways to pay these fees to ensure you’re not spending above and beyond what you really need to?
Finding Competitive Foreign Exchange Rates
If you’re going to be studying abroad for more than one term or semester, keep in mind that, as an international student, you may be required to pay your overseas tuition fees on a term-by-term basis. This is beneficial to you, as it means your money stays in your own pocket, rather than in someone else's, but it also means that you do need to be a little more vigilant in making sure you receive a competitive currency exchange rate each time you send money abroad. At The Money Cloud, we make this simple.
Some students opt to send money abroad via their bank, which is a familiar option to them. While this can sometimes be advantageous, if you’re making regular payments each term to your university, you need to consider that you’ll be paying bank fees each time you make international money transfers, and this can really add up. At The Money Cloud, we’ll put you in touch with FX experts who may be able to offer you lower fees and more favourable foreign exchange rates, to help keep your payments affordable.
Timing is Everything
We understand that as an international student living and studying abroad, the last thing you want is for things to go wrong, and that’s why The Money Cloud is dedicated to finding you effective and efficient ways to send money abroad. It takes longer to make international money transfers to some countries than others, so we’ll always provide you with a clear overview of how long you can expect your transfer to take, making sure you never miss a payment, or the opportunity to register for your favourite classes.
It’s worth keeping in mind that, because of timing issues, some universities in the United States will often state that they will accept international money transfers from a list of approved providers only. At The Money Cloud, we work with a large network of currency exchange experts, so it’s well worth taking a look at the professional agencies we work with to see if our providers are approved by your university.
Enjoying Your Adventure
Studying abroad can not only provide you with an excellent adventure, but it can also give you some unique experience that could help you to launch your career. So don’t be deterred by financial worries. At The Money Cloud, we do all the hard work so you don’t have to. So what are you waiting for?
By Emmanuel Addy – Emmanuel has over 12 years’ experience of developing partnerships in the FX/digital payments sector. He has also worked alongside Huw Jenkins, in money transfer comparison since the sector began before consolidating his experience to co-found The Money Cloud.
