Skip to main content
April 16, 2024
Guides

How to simplify paying tuition fees for international students?

Paying tuition fees is often a challenge for international students. Between currency differences, the complexity of bank transfers and managing stock exchanges, the process can quickly become complex. Fortunately, there are solutions to simplify paying tuition fees and make it easier for international applicants.

Summary :

  1. Integrate a secure online payment solution

  2. Providing students with a smooth and convenient payment experience

  3. Ensure students receive optimal support throughout the payment process

  4. Facilitate the management of scholarships and financial aid

1- Integrate a secure online payment solution

Offer flexible payment options adapted to different currencies

To make paying tuition fees easier for international students, it is essential to offer payment options that adapt to their specific needs. Indeed, these students face additional challenges related to currency differences and the complexities of international bank transfers.

By offering a range of flexible payment options, such as credit cards, bank transfers and e-wallets, higher education institutions can significantly simplify the process for their international applicants. This approach makes it possible to respond to the varied preferences of students in terms of payment methods, while taking into account the specificities of their country of origin.

Let's take the example of a large business school which welcomes students of more than 50 different nationalities each year. By integrating a multi-currency payment solution into its admissions platform, the school allows its prospective students to pay their fees in their local currency, thereby avoiding conversion costs and exchange rate difficulties. This flexibility reassures international candidates and facilitates their registration, making the school even more attractive on a global scale.

Develop partnerships with reputable international payment service providers

Partnering with reputable international payment providers is a key strategy to optimize the tuition settlement process for international students. These specialist partners, like Flywire, have a global network and expertise in managing cross-border transactions.

By integrating their solutions with the admissions platform, schools can offer their international applicants local and convenient payment options in more than 240 countries and territories . This approach eliminates the obstacles associated with traditional remittances, such as unfavorable exchange rates and high bank fees. Thanks to these strategic partnerships, establishments strengthen their attractiveness to international students by offering them a smooth and secure payment experience.

This is the case of Excelia , which deployed and configured an international application management platform integrating online payment solutions thanks to a partnership with Flywire . Foreign students applying to Excelia benefit from a simplified process, from registration to payment of their tuition fees, with the assurance of secure and transparent transactions.

Backed by our global payments network and 24/7 support team, Flywire allows institutions to receive, process and track cross-border and domestic student payments regardless of their location. ” - This quote Flywire 's ability to facilitate international payments for higher education institutions.

2- Provide a smooth and convenient payment experience for students

Offer mobile payment options to accommodate student preferences

In the digital age, students are increasingly accustomed to transacting through their mobile devices. By offering user-friendly mobile payment options, higher education institutions can meet the expectations of this connected generation.

Mobile payment solutions offer unrivaled flexibility and convenience, allowing candidates to pay their tuition fees with just a few clicks, wherever they are. This approach is part of an overall approach aimed at providing a smooth and user-centered admissions experience. By adapting to student mobile payment preferences, schools are demonstrating their willingness to innovate and simplify the process for their future students.

Let's imagine an international student who wishes to confirm his registration in a French engineering school. Thanks to the establishment's mobile application, they can access their application file, check the amount of fees to be paid and make payment securely from their smartphone. This frictionless experience allows them to complete their admission quickly and with ease, no matter where they are in the world.

Provide tuition simulations to help applicants plan their budget

Cost transparency is an important consideration for international students considering continuing their studies abroad. By providing tuition simulation tools, institutions can help candidates better understand the overall financial investment related to their study plan.

These interactive simulators allow future students to estimate the total cost of their training by taking into account tuition fees, additional costs and the cost of living in the host country. With this information, candidates are able to plan their budget realistically and anticipate expected expenses. This proactive approach on the part of schools strengthens students' confidence and helps them make informed decisions about their international academic career.

Let's take the example of a political science institute which offers a tuition fee simulation tool on its website. A Brazilian student interested in a master's degree in international relations can thus enter information relating to his profile and obtain a personalized estimate of the costs linked to his study project in France. By having a clear vision of the expenses to be expected, he can adapt his financing plan, look for grants and take the necessary measures to bring his project to fruition with peace of mind.

3- Ensure that students benefit from optimal support throughout the payment procedure

Create online guides and tutorials to help candidates

To ensure international students are supported in the process of paying tuition fees, it is essential to provide them with comprehensive educational resources. Creating online guides and tutorials is an excellent way to provide candidates with all the information they need to calmly navigate the different stages of paying fees.

These supports can take the form of explanatory videos, interactive infographics or even detailed FAQs. By covering topics such as different payment options, deadlines and documents to provide, these resources reassure students and guide them step by step through the process. The goal is to make the payment experience as simple and seamless as possible, eliminating any confusion or uncertainty. Quality educational support demonstrates the commitment of establishments to the success of their future international students.

Let's illustrate this with the case of a business school which has developed a series of video tutorials dedicated to paying tuition fees. These short sequences, available in several languages, detail step by step the process to follow to pay fees online, based on the different payment methods offered. Students can thus concretely visualize the actions to be carried out and obtain answers to their possible questions. This proactive approach by the school helps to reassure international candidates and offer them tailor-made support throughout their admissions process.

Offer installment payment options to help students manage their finances

Tuition fees often represent a significant investment for international students and their families. To ease this financial burden, higher education institutions can offer installment payment options. This flexible approach allows students to spread the total cost of their training over a longer period, depending on their financial capabilities.

By offering the possibility of paying tuition fees in installments, schools demonstrate their desire to support students in managing their budget. This solution has many benefits, such as reduced financial stress, better planning of expenses and greater accessibility to higher education. By demonstrating understanding and flexibility towards students' needs, institutions strengthen their attractiveness and promote diversity within their international student community.

Let's take the case of an Indian student admitted to a major French engineering school. Thanks to the installment payment options offered by the establishment, they can pay their tuition fees in three installments spread over the academic year. This flexibility allows him to better manage his budget, taking into account the scholarships he has obtained and the income generated by his internship. By thus alleviating financial pressure, the school allows them to calmly concentrate on their academic career and carry out their international study project.

Option

Benefits for the student

Benefits for the school

One-time payment

- Simplicity and speed
- Possible reduction in costs

- Immediate cash receipts
- Lightened administrative management

Payment in 2 installments

- Distribution of the financial burden
- Better budget management

- Reduced risk of payment default
- Flexibility for students

Payment in 3 or more installments

- Spreading of expenses over the year
- Reinforced accessibility

- Attractiveness to students
- Cash flow management

4- Facilitate the management of scholarships and financial aid

Develop partnerships with financial institutions for adapted financing solutions

To facilitate access to higher education for international students, it is important to develop strategic partnerships with financial institutions. The objective of these partnerships is to offer personalized financing solutions, adapted to the specific needs of international candidates.

By working hand in hand with banks, lending agencies or foundations, institutions can set up attractive student loan programs, with competitive interest rates and flexible repayment terms. These partnerships can also give rise to excellence scholarships or targeted financial aid, intended to support the most deserving students or those from disadvantaged backgrounds.

By expanding available funding options, schools are providing new opportunities for international applicants and strengthening their commitment to equal opportunities. This proactive approach helps attract talent from around the world and creates a diverse and inclusive student community.

Let's say a business school collaborates with an international bank to offer student loans specifically designed for foreign applicants. Thanks to this partnership, a Moroccan student can benefit from a loan covering their entire tuition fees, with a preferential interest rate and a repayment period adapted to their professional project. This tailor-made solution allows him to realize his dream of studying in a prestigious French school, while benefiting from advantageous financing conditions.

Integrate scholarship management with centralized admissions platform for an overview

To optimize the management of scholarships and financial aid intended for international students, it is wise to integrate these functionalities into the centralized admissions platform. This approach brings together all relevant information within a single tool, thus providing a clear and comprehensive overview.

Thanks to this integration, admissions managers can easily follow the different stages of the scholarship award process, from receiving applications to selecting beneficiaries. They have access to a complete dashboard, which allows them to view in real time the status of each request, the amounts allocated and the eligibility criteria.

This centralization of data greatly facilitates decision-making and guarantees transparent and equitable management of available funds. Students, for their part, benefit from personalized monitoring of their scholarship file and can receive automatic notifications on the progress of their application. By streamlining scholarship management in this way, establishments become more efficient and offer financial support to future international students. This is the case of Sciences Po Paris , which deployed and configured a centralized admissions platform to manage applications to its summer schools and associated financial aid requests.

In conclusion, this process offers managers the opportunity to process applications from international students in a consistent manner, providing them with a comprehensive overview of their profile, funding needs and available scholarship opportunities. This integrated approach allows for efficient and transparent management of applications, promoting informed decision-making and an optimal experience for students and officials involved in the admissions process.

last articles

May 23, 2024

How to optimize the reception of candidates using an online application management tool?

April 30, 2024

How to optimize the management of applications and admissions to major schools?

April 24, 2024

5 Tips for More Efficient Admissions Processes with an Applicant Tracker

Categories